MetaMask, the most used cryptocurrency wallet on the Ethereum network, on February 3 added access to tokenized stocks and exchange-traded funds (ETFs) to its applications for mobile phones and web browsers.
This integration was done through a partnership with Ondo Finance, a company specializing in the tokenization of real world assets (RWA). Active users have access to over 200 stocks and ETFs from the US market represented in digital format.
Available products include stocks in companies like Tesla, NVIDIA, Apple, Microsoft, and Amazon, as well as ETFs that track the price of specific assets or markets, such as gold, silver, and funds linked to the Nasdaq 100 stock index.
As shown in the image below, CriptoNoticias was able to confirm that the feature is indeed enabled.
These financial instruments are available through Ondo Global Markets, the Ondo platform dedicated to tokenized securities.
This product is not a traditional stock, However, the price of the digital representation published by Ondo Finance replicates the value of the underlying asset. (Holded by the issuer and backing the token). Although it does not provide actual stock rights, it does provide exposure to asset prices. Additionally, you can receive dividends (corresponding shares) that are automatically reinvested in the same shares, as described on the Ondo Finance page.
The acquisition will be made from MetaMask through its exchange functionality using Coinbase’s stablecoin USDC, with a trading scheme running from 01:05 UTC on Monday to 00:59 UTC on Saturday (as long as US markets are open), 24 hours a day, 5 days a week.
Meanwhile, transfers of these tokens can be performed 24 hours a day, 7 days a week.
MetaMask was developed by Consensys, a software company focused on developing tools for Ethereum. With this addition, the wallet adds a new category of financial products to its usual functionality, which has hitherto focused on the management and protection of digital assets, without changing the self-custody scheme that characterizes the application.
Ondo Finance positions itself in the RWA segment. The company’s market capitalization currently stands at nearly $2.74 billion.
Finally, please note that access to these products is limited to “Eligible Users.” This concept does not imply general availability, but compliance with standards defined by the provider, primarily of a geographical and regulatory nature.
According to a document published by Ondo Finance, eligibility depends on the country of residence and excludes a number of jurisdictions, including the United States, the European Union, the United Kingdom, Canada, and several countries in Asia, Africa, and Latin America (Cuba and Venezuela).
