What is SoFi Technologies (Ondo Tokenized) (SOFIon)?

Quick Facts

  • Issuer: Ondo Finance via Ondo Global Markets
  • Underlying asset: SoFi Technologies, Inc. (NASDAQ: SOFI)
  • Token symbol: SOFIon
  • Blockchains: Ethereum, Solana, BNB Smart Chain
  • Backing: 1:1 backed by real SoFi Technologies shares
  • Primary audience: Non-U.S. retail and institutional investors
  • Price feed: Chainlink data oracles for real-time pricing

Introduction

SOFIon is a tokenized real-world asset (RWA) that brings SoFi Technologies stock onto the blockchain. Issued by Ondo Finance through its Ondo Global Markets platform, each SOFIon token is fully backed 1:1 by actual SoFi Technologies (NASDAQ: SOFI) shares held via regulated broker-dealers.

The token allows non-U.S. investors to gain economic exposure to a U.S.-listed fintech company without opening a traditional brokerage account.

History & Background

Ondo Finance launched its Ondo Global Markets platform in September 2025, initially offering over 100 U.S. stocks and ETFs on-chain. SOFIon was part of this rollout, which represented one of the largest single launches of tokenized equities in crypto history.

In early 2026, Ondo expanded the platform to Solana, bringing over 200 tokenized U.S. stocks and ETFs — including SOFIon — to Solana's ecosystem of millions of daily active users. The SEC concluded a multi-year investigation into Ondo's platform without filing charges, providing meaningful regulatory clarity for the project.

How SoFi Technologies (Ondo Tokenized) Works

SOFIon operates as a tokenized note secured by SoFi Technologies shares held at U.S.-registered broker-dealers. When a user acquires SOFIon, they receive on-chain economic exposure to the performance of SOFI stock.

Chainlink price oracles feed real-time market data on-chain, ensuring SOFIon's price reflects the underlying equity accurately. Peer-to-peer transfers of SOFIon are available 24/7, while buying and selling generally follows U.S. equity market hours.

Ondo maintains daily attestations and an asset-to-obligation ratio above 100%, offering transparency around the backing of its tokenized securities.

Tokenomics

SOFIon does not have a fixed supply cap — tokens are minted and redeemed in proportion to demand, always maintaining full 1:1 backing by the underlying asset. There are no inflationary rewards or governance emissions tied to SOFIon itself.

The token's value is designed to track the market price of SoFi Technologies stock. Users interact with SOFIon purely for price exposure and on-chain composability — it is not a yield-bearing token.

Circulating supply ? 40,619 SOFIon
Reserved supply ? 0 SOFIon
Burned
0x0000000000000000000000000000000000000001
0 SOFIon
Total supply ? 40,619 SOFIon
Max supply ? -- SOFIon
Updated 2w ago

Ecosystem & Use Cases

SOFIon integrates into a broader DeFi ecosystem. Key use cases include:

  • Portfolio exposure: Gain access to SOFI stock without a brokerage account
  • DeFi collateral: Use SOFIon as collateral in lending and borrowing protocols
  • On-chain wealth management: Combine tokenized stocks with crypto assets for 24/7 portfolio strategies
  • Proxy voting: Ondo added proxy voting via Broadridge, allowing SOFIon holders to participate in SoFi Technologies shareholder governance through their crypto wallets

Team, Governance & Community

Ondo Finance was founded by Nathan Allman (CEO) and Justin Schmidt (President), both alumni of Goldman Sachs' digital assets division. The team also includes executives from BlackRock and McKinsey, reflecting deep traditional finance expertise.

SOFIon itself carries no independent governance mechanism — it is a financial instrument managed by Ondo Finance. Ondo's broader platform governance is handled via the ONDO token and its DAO structure.

Advantages

  • Accessible global exposure: Non-U.S. investors can access SOFI stock without a traditional broker
  • 24/7 transferability: Peer-to-peer transfers happen around the clock, unlike legacy markets
  • DeFi composability: SOFIon can be used as collateral and integrated into DeFi protocols
  • Transparent backing: Daily attestations and 1:1 asset backing provide strong accountability
  • Multi-chain availability: Live on Ethereum, Solana, and BNB Smart Chain

Risks & Challenges

  • Geographic restrictions: U.S. investors are excluded; additional regions may face restrictions
  • Regulatory uncertainty: Tokenized equities operate in an evolving regulatory environment globally
  • Counterparty risk: Relies on Ondo Finance and its broker-dealer partners for custody and backing
  • Market risk: SOFIon tracks SoFi Technologies stock, which is subject to normal equity market volatility
  • Smart contract risk: On-chain infrastructure carries inherent smart contract vulnerabilities

Long-Term Vision

SOFIon sits within Ondo's broader mission to bring institutional-grade financial markets fully on-chain. Ondo's planned Ondo Chain — a Layer 1 blockchain purpose-built for RWAs — aims to unlock further use cases like prime brokerage, automated portfolio rebalancing, and native collateralization of tokenized stocks.

As the tokenized equities sector grows — holding over $1.1 billion in value locked and tripling in size over recent years — SOFIon represents the convergence of traditional equity markets and decentralized finance, opening U.S. stock exposure to a truly global audience.

Frequently Asked Questions

SOFIon is a tokenized version of SoFi Technologies (NASDAQ: SOFI) stock, issued by Ondo Finance. Each token is backed 1:1 by actual SoFi Technologies shares held at regulated broker-dealers.

SOFIon is primarily designed for non-U.S. retail and institutional investors. U.S. residents are excluded, and access may vary by jurisdiction.

SOFIon's price tracks the market price of SoFi Technologies stock in real time, using Chainlink data oracles to feed accurate pricing on-chain.

SOFIon is available on Ethereum, Solana, and BNB Smart Chain, making it accessible across multiple major blockchain ecosystems.

Yes. Ondo Finance maintains a 1:1 backing model, with underlying SoFi Technologies shares held at U.S.-registered broker-dealers. Ondo publishes daily attestations to confirm the asset-to-obligation ratio.

Yes. SOFIon can be used as collateral in DeFi lending protocols and integrated into on-chain portfolio strategies. Chainlink price feeds enable SOFIon to function in DeFi markets.

Ondo Finance added proxy voting functionality via Broadridge Financial Solutions, allowing SOFIon holders to review company filings and submit voting preferences through their crypto wallets.

Ondo Global Markets is Ondo Finance's tokenized securities platform, offering non-U.S. investors access to hundreds of U.S. stocks and ETFs on-chain. It launched in September 2025 and is the largest tokenized public securities product by underlying asset value.