What Are RWAs? Bring Tokenized Yield and Stocks to Your App
Stablecoins brought the dollar onchain. Real-world assets (RWAs) are bringing traditional financial markets with them.
For users across Latin America and other international markets, the goal isn't necessarily to invest in US financial markets. It's to preserve their savings, earn yield, and build wealth. Access to US Treasuries, bond funds, and equities can help them work toward those goals.
Your users already hold stablecoins. Now imagine they could use those dollars to access US Treasury yield, bond funds, and stocks like Nvidia or Apple, all without leaving your app.
Through Passage, wallets, fintechs, and apps can offer eligible non-US users access to 440+ Ondo tokenized assets, with purchases starting at just $1 in USDC.
Here's what RWAs are, why they matter, and how to bring them to your users.
What are real-world assets (RWAs)?
Real-world assets are traditional financial assets, such as government bonds, stocks, real estate, and investment funds, represented as tokens on a blockchain.
Historically, accessing these investments has required banks, brokerages, and other financial intermediaries. For international investors, that often means additional accounts, cross-border transfers, and geographic restrictions.
Tokenization changes how users access these markets.
Instead of opening a foreign brokerage account, eligible users can purchase tokenized exposure using stablecoins and hold the resulting tokens directly in their crypto wallets.
The underlying financial exposure remains familiar. What's different is how users access, hold, and transfer it.
For wallets and fintechs, that creates an opportunity to offer traditional investment products through existing applications.
What can your users access through Ondo?
Ondo brings hundreds of traditional financial assets onchain, spanning three major categories.
1. Yield-bearing assets
Stablecoins are useful for holding and transferring dollars, but simply holding USDC doesn't generate yield.
Ondo offers 31 tokenized yield-bearing assets, including US Treasury, corporate credit, and bond funds.
Users can access exposure to funds from BlackRock's iShares, including its 20+ Year Treasury Bond ETF (TLT) and Core U.S. Aggregate Bond ETF (AGG), which tracks the broader US investment-grade bond market. Interest is reinvested into the token's value rather than distributed as cash.
For users already holding stablecoins, this opens a new way to access income-generating investments without moving funds to a traditional brokerage.
2. Tokenized stocks and ETFs
Ondo offers 390+ tokenized US stocks and ETFs, including Apple, Nvidia, Tesla, SPY, and QQQ.
These tokens provide economic exposure to the underlying securities, including price movements and reinvested dividends.
Unlike traditional shares, they don't grant shareholder rights such as voting. Instead, users hold structured notes backed by underlying securities held at US-registered broker-dealers.
The result? Exposure to familiar investments, settled in USDC and held alongside crypto in the same wallet.
3. Extended trading hours
Wall Street closes. Crypto doesn't.
Popular Ondo assets, including SPYon, QQQon, NVDAon, and TSLAon, support 24/7 trading, including weekends.
Most other assets trade 24 hours a day, five days a week, subject to US market conventions and trading pauses.
For users accustomed to always-on crypto markets, that's a meaningful improvement in accessibility.
Why offer RWAs through Passage?
The opportunity isn't just giving users more assets to buy. It's expanding what they can do with the money they already hold.
Passage provides the infrastructure to make that possible.
One integration, hundreds of assets. The Passage SDK and REST API connect your app to Ondo's catalog of Treasury funds, corporate bonds, stocks, ETFs, and commodity ETFs through a unified buy and sell experience.
Compliance built in. Offering tokenized securities requires jurisdiction and eligibility checks. Passage provides the compliance layer, allowing eligible non-US users to access Ondo assets without creating a separate Ondo account or completing Ondo-specific onboarding.
Direct issuer pricing. Passage connects directly to Ondo's request-for-quote (RFQ) engine, without an exchange or additional market maker in between. Research from Arrakis Finance found that Ondo's direct quotes offered more consistent spreads than exchange order books, particularly during weekends.
Revenue opportunities. Partners can participate in shared swap fees, turning asset purchases and sales into a potential revenue stream for their applications.
And as Passage expands its catalog, partners can access additional supported issuers and products through the same integration.
See Ondo assets live on CoinList
Want to see how it works?
CoinList already uses Passage to offer tokenized assets to eligible users.
Around 30 Ondo assets are currently available, including popular tokenized stocks and ETFs that support weekend trading.
Users can purchase with USDC and hold their tokens directly in their wallets, without opening a separate brokerage account.
Explore Ondo assets on CoinList →
Bring RWAs to your app
Your users already have wallets. They already hold stablecoins.
Now they can access Treasury yield, bond funds, and hundreds of tokenized US stocks and ETFs without leaving your app.
With Passage, developers get one integration for asset access, compliance, execution, and distribution.
One integration. 440+ Ondo assets. Starting at $1 in USDC.
Browse the full asset catalog →
Disclosures: Figures are based on Ondo information and public reporting as of October 2026 and may change. Ondo tokenized stocks are structured notes issued by Ondo Global Markets (BVI) Limited, governed by Swiss law, and backed by securities held at US-registered broker-dealers, with Ankura Trust Company serving as security and verification agent. Tokens provide economic exposure without shareholder rights. Products are offered under Regulation S to eligible non-US persons in supported jurisdictions only. Investments involve market, issuer, custody, smart contract, and liquidity risks. This content is for informational purposes only and does not constitute investment advice.