What is Cisco Systems (Ondo Tokenized) (CSCOon)?

Quick Facts

• Issuer: Ondo Finance (via Ondo Stocks platform)
• Underlying asset: Cisco Systems stock (NASDAQ: CSCO)
• Backing: 1:1 by real CSCO shares held with a regulated broker-dealer
• Eligible users: Non-U.S. retail and institutional investors
• Networks: Ethereum, BNB Chain, and Solana
• Minting/redemption: Available 24 hours a day, five days a week
• Price oracle: Powered by Chainlink

Introduction

CSCOon is a blockchain-based token that provides economic exposure to Cisco Systems (NASDAQ: CSCO), one of the world's leading networking and cybersecurity companies. It is issued by Ondo Finance as part of its tokenized-stocks platform, enabling investors outside the United States to access U.S. equity markets entirely on-chain.

Rather than purchasing shares through a traditional brokerage, eligible users can mint CSCOon tokens and gain exposure to Cisco's stock price movements and total return — all from a crypto wallet.

History & Background

CSCOon was launched in September 2025 as part of the debut of Ondo Global Markets, which introduced over 100 tokenized U.S. stocks and ETFs on Ethereum. The platform was later renamed Ondo Stocks in July 2026, and by that point had expanded to cover more than 470 tokenized assets across multiple blockchains.

Ondo Finance, founded by Nathan Allman, built its reputation on tokenizing real-world assets (RWAs). Cisco Systems was among the first batch of equities included at launch, reflecting strong demand for blue-chip technology exposure on-chain.

How Cisco Systems (Ondo Tokenized) Works

CSCOon uses a mint-and-redeem model. When an eligible investor mints the token, Ondo's platform instructs Alpaca Markets — a U.S.-registered broker-dealer — to purchase the corresponding CSCO shares on a traditional exchange. Those shares are held in custody, and a matching CSCOon token is issued to the investor's on-chain wallet.

When a holder redeems, the process reverses: shares are sold, and the proceeds are returned to the investor. Chainlink provides the official price oracle feeds, ensuring the on-chain token price tracks CSCO's real-time market value.

Dividends are automatically reinvested into the token's value, net of applicable withholding tax, so holders capture the full total return of the underlying stock.

Tokenomics

CSCOon operates on a fully collateralized, demand-driven model. Tokens are minted only when backed by an equivalent position in real CSCO shares, meaning the token supply expands and contracts based on investor demand. There is no pre-mine, team allocation, or inflationary emission schedule.

Token holders gain economic exposure to Cisco's price movements and dividends. Redemptions are settled in stablecoins or fiat, not in CSCO shares directly.

Ecosystem & Use Cases

• Global equity access: Non-U.S. investors can gain Cisco stock exposure without a U.S. brokerage account.
• DeFi integration: CSCOon is transferable peer-to-peer 24/7 and compatible with DeFi infrastructure and wallets like MetaMask and Ledger Live.
• Multi-chain availability: The token operates across Ethereum, BNB Chain, and Solana via LayerZero-powered interoperability.
• Fractional ownership: Investors can hold a fraction of a CSCO share at any price point.

Team, Governance & Community

CSCOon is issued by Ondo Global Markets (BVI) Limited, the international arm of Ondo Finance. The broader Ondo ecosystem is governed through the Ondo Foundation and its native governance token, ONDO. Individual CSCOon holders do not receive voting rights in Cisco Systems itself — the token represents economic exposure, not legal shareholdership.

Ondo Finance has partnered with infrastructure providers including Chainlink, BitGo, and Ledger to support the broader tokenized-stock ecosystem.

Advantages

• Direct market liquidity: Token prices inherit the deep liquidity of CSCO on traditional exchanges, minimizing slippage.
• Total return exposure: Dividends are automatically reinvested, so holders benefit from the full economic return of Cisco stock.
• Around-the-clock transfers: Peer-to-peer transfers work 24/7, unlike traditional brokerage settlement windows.
• No T+1 settlement delay: Minting and redemption remove the settlement lag inherent in traditional equity markets.
• Institutional-grade custody: Underlying shares are held at regulated U.S. custodial venues.

Risks & Challenges

• Restricted access: CSCOon is not available to U.S. persons; jurisdictional restrictions apply in many regions.
• No shareholder rights: Holders do not receive legal ownership of CSCO shares, voting rights, or direct shareholder protections.
• Custodial risk: The backing structure depends on Alpaca Markets and associated custodians operating without disruption.
• Regulatory uncertainty: Tokenized securities remain a rapidly evolving regulatory area globally.
• Smart contract risk: As with any on-chain asset, vulnerabilities in underlying contracts could pose risks to holders.

Long-Term Vision

CSCOon sits at the intersection of traditional finance and decentralized infrastructure. Ondo Finance's broader goal is to make every publicly traded security accessible on-chain — bringing the benefits of blockchain (instant settlement, programmability, global reach) to conventional equity markets.

As tokenized RWAs gain regulatory clarity and deeper DeFi integrations, tokens like CSCOon could serve as building blocks for on-chain portfolios, collateral in lending protocols, and components of automated investment strategies — redefining how global investors access U.S. capital markets.