Ondo Opens In-Kind Minting for Tokenized US Stocks

Ondo Finance has introduced an in-kind minting option for its tokenized US stocks, enabling approved institutional participants to convert existing share holdings directly into Ondo Stocks via Alpaca. Under the new workflow, institutions deliver actual share inventory rather than routing a cash deposit through Ondo’s previous issuance mechanism. The firm describes this as removing the separate cash funding leg that had been part of the platform’s existing issuance flow. The capability is available to institutions that have obtained approval to use Ondo’s issuance process and access Alpaca as the execution or custodian partner for the swap. By accepting stock inventory in lieu of cash, Ondo alters the mechanics of how tokens representing US equities are created on its platform. The announcement frames the change as an operational simplification for institutional users. Ondo’s in-kind minting leverages Alpaca as the conduit for moving underlying shares into the tokenization process; the discussion of Alpaca appears central to enabling share transfers rather than cash settlements. The update was described in the platform materials announcing the feature and aims to streamline the steps institutions take to put shares into tokenized form. No additional details on timing, eligibility criteria beyond ‘approved institutions,’ or technical settlement specifics were provided in the source excerpt. The published information focuses on the single operational change: converting existing share inventory directly into Ondo Stocks and eliminating the prior requirement for a separate cash funding leg.