Ondo Finance's $ONDO token surges 15% amid China's crackdown on illegal cross-border brokerage.

Ondo Finance's native token $ONDO jumped over 15% to around $0.466 following China's Securities Regulatory Commission crackdown on illegal cross-border brokerage activities by firms like Tiger Brokers and Futu. This regulatory move has shifted investor interest towards tokenized real-world assets (RWA) and onchain US stock exposure, areas where Ondo Finance is a leading player offering tokenized equivalents of low-risk US Treasury bonds and money market funds. The crackdown limits unofficial access to overseas securities, boosting demand for compliant blockchain-based financial products like Ondo's, which provide exposure to traditional assets in a tokenized form. This trend highlights growing investor appetite for stable, yield-bearing crypto products amid tighter regulatory controls in China.