What is Rigetti Computing (Ondo Tokenized) (RGTIon)?

Quick Facts

• Issuer: Ondo Finance via its Ondo Global Markets platform
• Underlying asset: Rigetti Computing, Inc. (Nasdaq: RGTI)
• Token standard: ERC-20 on Ethereum, BEP-20 on BNB Chain, SPL on Solana
• Backing: Fully backed by RGTI shares held at US-registered broker-dealers
• Dividends: Automatically reinvested into the token's value
• Geographic restriction: Not available to US persons
• Trading hours: 24 hours a day, five days a week

Introduction

RGTIon is the on-chain tokenized representation of Rigetti Computing stock, issued by Ondo Finance through its Ondo Global Markets (OGM) platform. It gives eligible holders economic exposure to Rigetti Computing's equity performance — including dividend reinvestment — entirely on blockchain rails.

The token follows Ondo's naming convention: the 'on' suffix marks assets as onchain versions of their traditional counterparts. So RGTI (the Nasdaq ticker) becomes RGTIon on-chain.

History & Background

Rigetti Computing was founded in 2013 by Chad Rigetti and is a pioneer in superconducting quantum computing, offering integrated quantum processors and cloud-based quantum access.

Ondo Finance launched its Global Markets platform in 2025, creating one of the largest tokenized equity platforms by total value locked. RGTIon was introduced as part of a broad catalogue of tokenized US stocks and ETFs that spans over 260 securities.

How Rigetti Computing (Ondo Tokenized) Works

OGM operates through a straightforward three-step model:

1. Real shares of Rigetti Computing are purchased and held by US-registered broker-dealers.
2. RGTIon tokens are minted on-chain, backed 1:1 by those underlying shares.
3. A SyntheticSharesOracle contract tracks dividend reinvestments and corporate action adjustments, ensuring the token price reflects total return rather than just the spot share price.

Minting and burning happen atomically — users receive tokens or stablecoins in a single transaction. Fractional tokens are supported, lowering the barrier to entry.

Tokenomics

RGTIon has no fixed supply cap — tokens are minted when users buy and burned when users redeem. There are no mint or burn fees. The token's value is designed to mirror the total return of RGTI shares, with dividends automatically compounded into the token price rather than distributed separately.

The token is freely transferable on-chain and composable with DeFi protocols, enabling use beyond simple buy-and-hold.

Ecosystem & Use Cases

RGTIon is available on Ethereum, BNB Chain, and Solana, and is accessible through major wallets and DeFi platforms including MetaMask, Ledger, and Jupiter on Solana.

Eligible users can trade RGTIon 24 hours a day, five days a week — far beyond traditional exchange hours — and settle positions in seconds rather than the T+1 cycle of conventional brokerages. The token can also be used as collateral or integrated into broader on-chain financial strategies.

Team, Governance & Community

RGTIon is issued and managed by Ondo Finance, a US-based RWA protocol led by its founding team and president Ian De Bode. Ondo Finance has established partnerships with custodians such as BitGo and Ledger, and has engaged with regulators including SEC registration filings and institutional collaborations with J.P. Morgan, Mastercard, and Ripple.

OGM holds approximately 70% market share in the tokenized equity space, underpinning the platform's credibility.

Advantages

• On-chain equity access without needing a traditional brokerage account
• 24/5 trading with near-instant on-chain settlement
• Fractional ownership lowers minimum investment thresholds
• Dividend reinvestment is automatic and reflected in token value
• DeFi composability allows use across wallets, protocols, and chains
• Transparent backing with assets held at regulated US broker-dealers

Risks & Challenges

• Geographic restrictions: US persons are ineligible, limiting the addressable user base
• Regulatory uncertainty: Tokenized stocks remain a novel and evolving regulatory category
• Underlying asset risk: RGTIon's value is directly tied to Rigetti Computing's stock performance, which can be highly volatile
• Custodial risk: Reliance on third-party broker-dealers and custodians introduces counterparty exposure
• Platform dependency: The token's functionality depends on Ondo Finance's continued operation

Long-Term Vision

OGM's goal is to expand its catalogue to over 1,000 tokenized NYSE and NASDAQ securities, broadening global access to US capital markets through blockchain infrastructure. For RGTIon specifically, the long-term thesis rests on both the growth of on-chain finance and the continued relevance of quantum computing as a sector. As regulatory frameworks mature and DeFi composability deepens, tokenized equities like RGTIon could become a standard tool for on-chain portfolio construction.