Ondo lets investors trade pre-IPO exposure 24/7

Ondo Finance has launched Ondo Private Markets on Oct. 6, giving eligible non-U.S. investors tokenized exposure to private companies with 24/7 secondary trading, starting with an unnamed pre-IPO artificial intelligence company this week. Summary Ondo Private Markets will offer tokenized notes tied to private companies for eligible non-U.S. investors. The first product references an unnamed pre-IPO AI company and begins secondary trading this week. Holders receive economic exposure through notes, not company shares, voting rights, or direct equity ownership. Eligible holders can trade notes around the clock on secondary markets or use self-custody wallets. Ondo says private-market products will later cover robotics, cybersecurity, biotech, infrastructure, defense, energy, and space. Ondo Finance announced the product after building its existing tokenized securities business around publicly traded stocks, ETFs and U.S. Treasuries. The new service uses tokenized notes whose payouts are tied to the value realized on a referenced private company’s common shares at a qualifying liquidity event. The first reference company has not been named. Ondo has only described it as a leading pre-IPO AI company and said secondary-market trading is expected to begin this week. Robotics, cybersecurity, biotech, infrastructure, defense, energy and space companies are planned for later releases, though no launch dates or company names have been disclosed. You might also like: Ondo Finance denies sale talks after founder’s death Ondo Private Markets starts with an unnamed AI company The first Ondo Private Markets token will give eligible buyers economic exposure to a private AI company’s common-share value without placing the company’s actual shares in their wallets. Ondo said investors will be able to hold the tokenized notes in self-custody or trade them on secondary markets around the clock. JUST IN: Ondo Finance launches private tech companies tokenized notes The first offering, tied to a pre-IPO AI company, launches this week and will track the firm’s per-share value at qualifying liquidity events while trading 24/7 on secondary markets. pic.twitter.com/4CN9PE822a — crypto.news (@cryptodotnews) October 6, 2026 A holder does not have to wait until the private company completes an IPO before selling the token. Secondary markets can bring buyers and sellers together before a qualifying liquidity event takes place, although actual liquidity will depend on market participation. Ondo describes the tokens as freely transferable and composable, which could allow supported DeFi applications to integrate them. The company has not yet published a list of trading venues or DeFi protocols that will support the first private-market asset. Acting CEO and President Ian De Bode said the product was designed to bring private-company exposure onto “24/7 trading on permissionless rails.” The statement describes Ondo’s intended market structure and does not mean every investor can purchase the instruments, because geographic and eligibility restrictions remain in place.