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Ondo Finance has announced a major integration with MetaMask to bring US stocks traded as tokens and ETFs directly to the popular self-custodial wallet.
However, the ONDO token barely accepted this news, continuing its one-month decline during which it lost more than a third of its value.
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MetaMask and Ondo Finance have announced About launching its integration At the Ondo Global Summit on February 3. The partnership brings more than 200 publicly traded US securities as tokens to the MetaMask mobile wallet via Ondo Global Markets.
Users in supported regions can now buy, hold and trade tokenized copies of major stocks, including Tesla, Nvidia, Apple, Microsoft and Amazon. The offering also includes ETFs such as SLV for exposure to silver, IAU for gold, and QQQ for technology stocks.
The integration works via the MetaMask Swaps feature on the Ethereum mainnet. Users purchase Ondo Global Markets tokens with USDC, with the ability to trade 24 hours a day, five days a week. Token transfers remain possible at any time.
Access to US markets still goes through traditional infrastructure, said Joe Lewin, founder and CEO of Consensys and co-founder of Ethereum. Brokerage accounts, disparate applications and rigid trading windows have not evolved significantly. Bringing US stocks and ETFs traded as tokens from Ondo directly to MetaMask shows how much better the model can be, he noted.
Ian de Bode, president of Ondo Finance, emphasized the strategic value of reaching MetaMask’s user base. He explained that the integration offers similar pricing to traditional brokerage firms like Robinhood in a self-custodial and on-chain environment.
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Geographical restrictions limit the impact
Despite the surprising announcement, closer inspection revealed significant limitations. The list of excluded areas appears to be a guide to the largest financial markets in the world.
Users in the United States, the European Economic Area, the United Kingdom, Switzerland, Canada, China (including Hong Kong), Singapore, Japan, Korea, and Brazil may not use the Service. These exclusions effectively limit the availability of the Service in favor of less regulated development markets.
The lackluster reaction from the market is probably due to this geographical restriction. This integration represents a technical success, but the target market is still small.
ONDO coin ignores the news
The ONDO token was trading at $0.2811 at press time, down 37.3% over the past month. The price change over twenty-four hours showed a slight drop of 0.2%, which indicates that the market saw the integration as not an event that affects the value of the token.
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Reviewing the monthly chart, ONDO continues its steady decline from around $0.45 in early January to its current level near $0.28. The MetaMask news failed to stop or even slow down this downward trend.
Market data shows that Ondo has a market capitalization of $1.37 billion and a total closed value of more than $2 billion. The gap between protocol indicators and token performance reflects a broader pattern in the real-world asset sector.
Real asset tokens are suffering despite the sector’s growth
Include Ondo’s price movement in a well-documented trend across real-world asset government tokens. CoinGecko’s RWA 2025 report stated that most tokens in the sector recorded negative returns between January 2024 and April 2025, ranging between -26% and -79%.
| Token | Protocol | The return |
|---|---|---|
| WAVE | Undo Finance | +314.1% |
| By the way | mantra | +733.9% ← Then it collapsed 90% |
| SYROPUS | Mabel Finance | +24.0% |
| CFG | Centrifugation | Range from -26% to -79% |
| GFI | goldfinch | Range from -26% to -79% |
| This | Athena | Range from -26% to -79% |
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The report attributed this gap to structural factors. During bull markets, decentralized lending protocols offer alternatives to returns without the need for real-world asset exposure. At the same time, capital flows mainly into institutional products such as BlackRock’s BUIDL fund and stablecoin infrastructure rather than governance tokens.
Tokenized vaults grew 544% to $5.6 billion in market capitalization, and BlackRock’s BUIDL fund took a 44% market share. Private loan protocolslike Maple Finance dominated with a share of 67% of active loans. However, these successes rarely translate into returns for token holders.
The model suggests that government tokens for real-world assets act more as speculative instruments than as direct claims on the growth of the protocol.
What is the next step?
The integration of MetaMask has positioned Ondo for growth as the regulatory environment evolves. The infrastructure is now in place to seamlessly exchange tokenized securities in a large self-custodial wallet.
Until the opening of the main markets, the practical impact remains limited. ONDO holders took the announcement as another reminder that protocol-level achievements and token performance often go in opposite directions in the brick-and-mortar asset sector.
