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Ondo Finance has appointed John Hoffman, a former executive at Invesco and Grayscale, as its managing director and head of product portfolios. This strategic hire is intended to transition the company's focus from tokenizing individual assets, such as U.S. Treasury notes and stocks, toward the development and distribution of managed onchain investment portfolios. Hoffman will lead efforts to create investment baskets in collaboration with asset managers, utilizing blockchain infrastructure to offer products similar to traditional ETFs.
John Hoffman joins Ondo Finance after nearly two decades at Invesco and a tenure as head of distribution at Grayscale Investments.
Ondo Finance aims to evolve its business model from tokenizing single assets to building managed, onchain investment portfolios.
The broader market for tokenized assets has grown to over $30 billion, with projections suggesting significant long-term expansion.
Ondo's existing tokenized products, including OUSG and USDY, have previously established the firm's position in the RWA (real-world asset) sector.
John Hoffman is the new managing director and head of product portfolios at Ondo Finance, previously serving as an executive at Invesco and Grayscale.
The firm aims to expand its offerings from tokenized individual assets to full, intelligently managed onchain investment portfolios.
Ondo currently offers tokenized Treasury products like OUSG and USDY, as well as tokenized equities through Ondo Global Markets.
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