Sources familiar with the matter say that tokenized asset platform Ondo Finance is evaluating a potential acquisition deal worth between $250 million and $500 million. The company has not yet hired formal advisors, and the plan is still in the early evaluation stage, with potential targets including niche areas such as wealth technology.
The merger and acquisition plan is still under evaluation.
Sources say the New York-based company is exploring mergers and acquisitions to expand its business, but details about the targets, transaction structure, and timeline have not been disclosed as the matter is not yet public.
Ondo told CoinDesk that as a fast-growing company, the team continuously evaluates market opportunities in its daily operations, but has not yet entered into negotiations with any party.
The product scale has exceeded US$3.5 billion.
Founded in 2021 by a former Goldman Sachs executive, Ondo primarily moves traditional financial assets onto the blockchain, offering tokenized US Treasury bonds and stocks. Reports indicate its product portfolio exceeds $3.5 billion, making it one of the largest RWA providers.
Since its inception, the company has raised approximately $24 million in venture capital and an additional $10 million through a public offering of ONDO tokens. In terms of funding size, Ondo is among the most capital-efficient platforms managing billions of dollars in tokenized assets.
Mergers and acquisitions in the industry continue to heat up
Mergers and acquisitions in the crypto industry remained active in 2026. Architect Partners data shows that 89 deals were recorded in the first quarter, with a disclosed value of approximately $3.2 billion; the disclosed deal value rose to $12.9 billion in the second quarter, marking the second-highest single-quarter level on record.
Current hot M&A sectors include payments, stablecoins, custody, tokenization, and institutional trading infrastructure. Recent examples include Keyrock's acquisition of BlockFills' trading and brokerage assets, Kraken's $550 million acquisition of Bitnomial, and Bullish's $4.2 billion acquisition of investment platform Equiniti.
Following the news, ONDO's stock price rose approximately 6% in the 24 hours following the report's release, reaching about $0.42.
