The transaction helps Ondo become a full-stack tokenized asset platform with multi-blockchain issuance capabilities, following a $250 million investment in RWA.
Ondo Finance has completed the acquisition of Strangelove, a blockchain infrastructure development company, to enhance its capabilities of bringing real-world assets (RWA) onto the blockchain. This transaction is part of Ondo's ambitious expansion strategy in asset Tokenization, after the company and Pantera Capital announced plans to invest $250 million in RWA projects.
"This transaction reinforces our commitment to building platform infrastructure to bring financial markets onchain," said Nathan Allman, founder and CEO of Ondo. This move comes just weeks after Ondo announced the acquisition of Oasis Pro, thereby accessing a brokerage firm licensed by the US Securities and Exchange Commission (SEC).
Tokenizing real-world assets – including securities, real estate, private credit, and many other valuable assets – is attracting strong attention from investors. Particularly, efforts to bring US stocks and private company shares onto the blockchain are receiving significant interest. A joint report by Ripple and Boston Consulting Group predicts that the Tokenized asset market could exceed $18 trillion by 2033.
According to Ondo, acquiring Strangelove will help them become the "only full-stack tokenized asset platform with the ability to issue assets across multiple blockchains." The company emphasizes that Strangelove's extensive technical capabilities and proven deployment skills will help bring large-scale, cross-chain interoperable financial products to global users.
Enhancing Technical and Personnel Capabilities
Strangelove is currently a validator specializing in designing, implementing, and maintaining open-source infrastructure for multiple blockchain ecosystems. Owning this team will provide Ondo with the necessary technical expertise to develop complex and scalable RWA solutions.
As part of the transaction, Jack Zampolin, current CEO of Strangelove, will take on the role of Vice President of Product at Ondo Finance. Retaining senior leadership from Strangelove shows that Ondo values maintaining operational continuity and maximizing existing expertise.
