A new blockchain for tokenizing real-world assets—or RWAs—was announced on Thursday with the backing of Wall Street giants. 

The layer-1 Ondo Chain—a product of Ondo Finance, which works to tokenize assets—will work “to accelerate the creation of institutional-grade financial markets on-chain,” according to a statement. 

And Team Trump immediately jumped on the bandwagon: Data from Arkham Intelligence showed that a wallet linked to the President Trump-backed World Liberty Financial project scooped up $470,000 worth of the project’s native ONDO tokens. 

World Liberty Financial is a crypto project providing borrowing and lending services. It has the heavy backing of the Trump brand; the president’s son announced its launch back in August, and the president himself has promoted the project.

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Author: Mathew Di Salvo