Binance Introduces Perpetual Contract for Crypto Venture Led by Ex-Goldman Sachs Executives
The world’s largest cryptocurrency exchange is introducing perpetual contract support for Ondo Finance (ONDO). A new altcoin project spearheaded by former Goldman Sachs executives.
Ondo Finance focuses on tokenizing real-world assets (RWAs), particularly short-term bonds and US Treasuries, accessible on Ethereum, Solana, and Polygon blockchains. Led by President and COO Justin Schmidt and Founder and CEO Nathan Allman. Ondo aims to bridge traditional finance (TradFi) and decentralized finance (DeFi) to capture emerging value. Binance’s announcement includes the launch of perpetual contracts for ONDO, featuring up to 50x leverage.
Ondo Finance emphasizes creating institutional-grade products with a strong commitment to security, transparency, regulatory compliance, and user experience. While a spot market instrument for ONDO is yet to be released, the current trading value stands at $0.256, with a market cap exceeding $371 million.
Clever Robot News Desk 23rd January 2024
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