ServiceNow (Ondo Tokenized Stock)Price

(NOWON)

ServiceNow (Ondo Tokenized Stock), known by the token symbol NOWON, is a digital asset project developed by Ondo Finance. This project falls under the category of Real World Assets (RWAs), as it aims to bring traditional financial instruments onto the blockchain. Specifically, the NOWON token is a tokenized representation of the underlying ServiceNow (NOW) common stock. The primary function of the NOWON token is to provide holders with economic exposure to ServiceNow stock through blockchain technology. This allows users to hold a digital version of the equity, which tracks the value and performance of the traditional stock. According to the project, the token is designed so that any dividends issued by the underlying company are reinvested, similar to a total return product. The project is part of a broader platform called Ondo Global Markets. This platform is designed to bridge the gap between traditional finance and decentralized finance (DeFi). By tokenizing well-known equities, the project enables non-U.S. retail and institutional users to access U.S. capital markets without the traditional barriers often associated with standard brokerage accounts. Technically, NOWON operates on blockchain networks such as Ethereum and BNB Smart Chain. One of the main benefits of this tokenized structure is that it allows for transferability and accessibility. Unlike traditional stocks that are restricted to specific exchange hours and siloed brokerage platforms, tokenized stocks can be transferred between wallets or used within various DeFi protocols as collateral or for other on-chain activities. The mission behind the project is to democratize access to institutional-grade financial products. By putting these assets on-chain, Ondo Finance aims to increase market efficiency, provide more transparency, and allow for a more seamless user experience for global investors. The protocol manages the legal and regulatory compliance aspects of the underlying securities, ensuring that the digital tokens remain connected to the physical assets held in traditional custody. In summary, ServiceNow (Ondo Tokenized Stock) is a Web3 initiative that converts traditional corporate equity into a programmable digital asset. It leverages the speed and composability of blockchain to make traditional stock ownership more flexible and accessible to a global audience. Learn more

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