Blockchain.com and Ondo Finance are pushing real‑world asset (RWA) tokenisation deeper into the mainstream—this time in Europe. The two companies announced an expansion of their partnership that allows eligible users across the European Economic Area (EEA) to access regulated, tokenised U.S. stocks and ETFs directly inside the Blockchain.com DeFi wallet.

The move gives European users something that, until recently, sat squarely in the realm of theory: self‑custodied exposure to U.S. equities and ETFs, delivered on‑chain, without relying on a traditional brokerage account. It’s another signal that tokenisation is shifting from pilot projects into practical financial infrastructure.

From emerging markets to Europe

This isn’t Blockchain.com and Ondo’s first attempt at democratising access to U.S. capital markets. In 2024, the companies rolled out more than 200 tokenised stocks and ETFs to users in Africa and South America through the Blockchain.com DeFi wallet. That launch tested demand in regions where access to global equities is often limited by local banking infrastructure or regulatory friction.

The European expansion builds directly on that momentum—but with higher stakes. Europe represents a more mature regulatory environment, a more competitive fintech landscape, and a user base already accustomed to digital finance tools. Bringing tokenised equities into this market suggests growing confidence that the RWA model can scale beyond niche use cases.

Peter Smith, CEO, Founder, and Executive Chairman of Blockchain.com, framed the expansion as a direct challenge to legacy finance. By offering U.S. equities on‑chain through a self‑custody wallet, he argues the platform can deliver speed, efficiency, and user ownership that traditional banks struggle to match.

What European users actually get

For users across 30 EEA states, the update unlocks a broad lineup of more than 200 tokenised U.S. stocks and ETFs. These assets can be bought, sold, and held entirely within the Blockchain.com DeFi wallet—no external brokerage account, no custody transfer, and no traditional settlement delays.

That matters because friction is often the silent killer of cross‑border investing. Opening a brokerage account, navigating tax forms, or dealing with currency conversion can deter even sophisticated investors. Tokenisation collapses much of that complexity into a familiar wallet interface.

The offering also extends beyond equities. Ondo Global Markets includes tokenised precious metals ETFs, such as SLVon (silver) and IAUon (gold), giving users on‑chain exposure to commodities at a time when precious metals markets have shown renewed strength. For portfolio builders, that means equities, ETFs, and commodities living side by side in a single digital wallet.

Ondo’s rise as an RWA heavyweight

The expansion also highlights Ondo Finance’s growing influence in the RWA sector. Since launching Ondo Global Markets in September 2025, the platform has rapidly accumulated scale, reporting more than $556 million in total value locked (TVL) and over $8.7 billion in trading volume.

Those numbers matter because they address one of the biggest criticisms of tokenised assets: liquidity. Institutional‑grade volumes suggest that tokenised RWAs are no longer just conceptual replicas of traditional instruments, but actively traded products with real market depth.

Ian De Bode, President of Ondo Finance, emphasised the significance of reaching EEA users through Blockchain.com’s wallet. For Ondo, the partnership opens access to a segment of the global market that was previously unavailable on the platform—one with strong appetite for both U.S. equities and digital asset innovation.

Why this matters for Europe

Europe has long been a paradox in global finance. It’s home to sophisticated investors and strong consumer protections, yet access to U.S. markets can still feel cumbersome for retail participants. Tokenised equities challenge that status quo by abstracting away many of the legacy constraints.

At the same time, European regulators have been laying groundwork for digital asset clarity through frameworks like MiCA. While compliance details still vary, the region is increasingly seen as fertile ground for regulated, transparent tokenisation models—especially those tied to recognisable assets like stocks and ETFs.

The Blockchain.com‑Ondo expansion lands squarely in that window. It doesn’t ask users to speculate on new tokens or experimental protocols. Instead, it offers familiar assets—Apple, ETFs, gold, silver—wrapped in a new delivery mechanism.

Competing visions of on‑chain investing

This move also intensifies competition in the race to bring traditional finance on‑chain. Coinbase, Robinhood, and several European fintechs have all explored tokenised or fractional equity models. What differentiates this approach is custody and architecture.

By embedding tokenised assets directly into a DeFi wallet, Blockchain.com is betting on self‑custody as a core value proposition. Users hold assets themselves, rather than through an intermediary account. That’s philosophically aligned with crypto’s roots—and increasingly attractive to users wary of counter‑party risk.

For Ondo, the strategy reinforces its role as an institutional bridge. The company isn’t trying to replace traditional markets, but to mirror them on‑chain in a way that preserves regulatory alignment and investor confidence.

The bigger picture for RWAs

Real‑world assets have emerged as one of crypto’s most credible growth narratives. Unlike speculative tokens, RWAs tie blockchain infrastructure to assets investors already trust. The result is a use case that appeals not just to crypto natives, but to institutions and everyday investors alike.

By expanding into Europe, Blockchain.com and Ondo are effectively stress‑testing that thesis in one of the world’s most regulated financial regions. If adoption follows the same trajectory seen in Africa and South America, it could accelerate the normalisation of tokenised equities as a standard investment option.

For now, the takeaway is simple: tokenisation is no longer confined to pilots or emerging markets. With regulated U.S. stocks and ETFs now accessible on‑chain to millions of Europeans, the line between traditional investing and DeFi just got thinner—and harder to ignore.

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