Ondo Finance and Mirae Asset Global Investments have signed a memorandum of understanding to tokenize exchange-traded funds, starting with US-listed ETFs offered through Mirae’s American subsidiary, Global X. The deal makes Mirae Asset the first major Asian asset manager to move into ETF tokenization, pairing one of the largest fund houses in Asia with the protocol that currently commands roughly 58% of the tokenized equities market.
What the deal actually covers
The MOU, signed on June 16, lays out a phased approach. Phase one focuses on tokenizing US-listed Global X ETFs through Ondo’s infrastructure. Phase two gets more ambitious: expansion into Canada, Europe, Australia, Japan, and Hong Kong.
The collaboration also plans to incorporate additional asset classes beyond equities, including commodities. Every regional rollout will need to navigate local regulatory frameworks, and both parties have emphasized full compliance as a core requirement rather than an afterthought.
Mirae Asset’s chairman has reportedly positioned ETFs as a core product engine alongside AI and tokenization within the firm’s broader strategy. The company has previously signaled interest in digital assets through collaborations with Ava Labs and an explored acquisition of cryptocurrency exchange Korbit.
