Bankless · Thursday, July 2, 2026
Ondo Finance's tokenized stock trading volume primarily comes from external platforms, with 80-90% of flow and TVL originating outside their direct interface. Ian DeBode explained that integrations with major crypto wallets and exchanges like Binance, BitGet, and MetaMask drive this volume. He emphasized that while this flow goes through Ondo's system, it bypasses less efficient Automated Market Maker (AMM) pools, directly tapping into market makers for better liquidity.
“Yeah, it's definitely, I'd say 80-20. 80% is outside of our platform, 20% in the platform. We are integrated into a lot of the large crypto wallets and exchanges, Binance, BitGit, Gate, OKEx, MetaMask, Phantom. So there's a lot of users. They have more users than us. So typically 80 to 90% of our flow in TVL right now is coming from outside of our own data.”
“But it's still going through the intense route, correct? Because it would be silly to buy it on an AMM pool because the liquidity is not going to be as good as directly tapping into the market makers because those people are directly tapped into you and you're directly tapped into the actual exchange. You nailed it. Right. Right.”