Ondo launches Private Markets platform with tokenized notes tied to a pre-IPO AI company

Ondo Finance wants to give regular investors a way into the private markets. It is starting with the hottest corner of them: artificial intelligence. The company officially launched Ondo Private Markets on October 6, 2026. The platform offers eligible investors economic exposure to leading private companies through tokenized notes. The first of those notes will track a pre-IPO AI company. How the tokenized notes actually work Each note is linked to the per-share value of the AI company’s common stock at a liquidity event, such as an IPO or an acquisition. The tokens do not represent actual ownership and carry no shareholder or voting rights. They are obligations of the issuer, which means holders are relying on the issuer to make good on the note. The first notes, tied to the leading pre-IPO AI company, are expected to begin trading on secondary markets on a 24/7 basis this week. That round-the-clock trading is a sharp contrast to how private shares typically change hands, which tends to involve paperwork, gatekeepers, and a lot of waiting. The offering is available only to non-US investors in jurisdictions where it is permitted. Ondo did not disclose assets under management or fun...