Key Takeaways
- Ondo Finance and Pantera Capital have rolled out a $250 million Catalyst fund focused on real-world asset (RWA) tokenization.
- The RWA market has grown nearly five times in the past three years, driven by rising institutional interest.
- Ondo is already active in the space with tokenized Treasury products and is building a dedicated layer-1 blockchain for RWAs.
As financial institutions increasingly look to bring traditional assets onto blockchain rails, Ondo Finance and Pantera Capital are stepping up with a major commitment.
The two firms have launched Catalyst, a $250 million fund aimed at accelerating real-world asset tokenization through equity and token investments.
Ondo and Pantera Bet $250M on RWA Tokenization
The Catalyst initiative targets projects building on-chain versions of familiar instruments, such as stocks, bonds, and ETFs.
It focuses on infrastructure that enables round-the-clock automation, liquidity, and transparency.
According to Ian De Bode , chief strategy officer at Ondo, the market is in the midst of an “arms race” as platforms race to tokenize financial products.
That interest is becoming more tangible. Coinbase, Robinhood, and Kraken have all taken steps to expand tokenized stock offerings for non-U.S. users, while institutions grow more comfortable allocating capital to on-chain alternatives.
Ondo’s RWA Strategy Picks Up Speed
Ondo has already made significant moves in 2025.
The firm launched Ondo Global Markets to connect blockchain infrastructure with traditional capital markets, and formed the Global Markets Alliance alongside other digital asset players.
Its tokenized products—OUSG and USDY—are backed by U.S. Treasuries and have already attracted $1.4 billion in market value.
The company is also building a purpose-built layer-1 blockchain designed specifically for real-world assets.
Backed by major investors like Founders Fund, Ondo is positioning itself as a key player in the next phase of capital market evolution.
Institutional Adoption Fuels RWA Growth
The appeal of tokenized real-world assets is growing quickly.
They offer faster settlement, programmable compliance, and the ability to trade 24/7—all while enhancing transparency.
Banks, fintechs, and asset managers are taking notice.
The RWA market has grown nearly fivefold over the past three years, driven by improved infrastructure and greater regulatory clarity.
As a sign of that maturation, Ondo recently partnered with Hex Trust, a top-tier custodian, to support secure storage of tokenized instruments, crucial for institutional adoption.
With the Catalyst fund, Ondo and Pantera are doubling down on their belief that RWA tokenization will be one of the defining trends of the next financial cycle.
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