South Korea’s Mirae Asset Global Investments signed a memorandum of understanding with Ondo Finance on June 16, 2026. The deal positions one of Asia’s largest asset managers as the latest traditional giant moving its own products on-chain. Mirae oversees roughly $721 billion in assets under management. Its global ETF platform, anchored by the Global X brand, recently crossed $263.7 billion in fund assets. Now, those funds are heading to public blockchains through Ondo’s tokenization rails.
Asset management is moving onchain.
— Ondo Finance (@OndoFinance) June 16, 2026
Ondo has partnered with Mirae Asset, South Korea's largest asset manager, to begin tokenizing its Global X ETF lineup through Ondo Global Markets.
Mirae will be the first asset manager in Asia to bring exposure to its existing ETF lineup… pic.twitter.com/yWNF63deQU
What the Mirae and Ondo Deal Actually Covers
The two firms framed the agreement around three collaboration tracks. First, they will tokenize Global X ETFs through Ondo’s infrastructure. Second, they plan to build on-chain asset management infrastructure together. Third, they intend to develop digital investment products aimed at global investors. Additionally, Mirae said it will pursue tokenization of US-listed ETFs through its US subsidiary, Global X. The structure remains an MOU rather than a finished commercial rollout. As a result, detailed product, legal, and distribution mechanics will land over the coming quarters.
The First Tokenized Product: A Hong Kong Covered-Call ETF
Mirae named one concrete first product in the announcement. Specifically, the firm plans to list a tokenized share class of the Global X HSCEI Covered Call Active ETF. Notably, the fund is recognized as Hong Kong’s first covered-call ETF. The tokenized share class is targeted for Q3 2026. Importantly, a tokenized share class is not a synthetic or a derivative. Instead, the underlying fund stays the same, with identical portfolio, management, and off-chain custody. Only the ownership record moves on-chain, where tokens represent fully backed beneficial interests in the ETF. Holders still receive dividends through the token, net of platform fees.
How Ondo Global Markets Powers the Issuance
Ondo Global Markets is Ondo’s tokenization and distribution platform for publicly traded securities. The platform has already brought more than 100 US stocks and ETFs on-chain. According to recent disclosures, it has surpassed $1 billion in total value locked. Tokens are minted and redeemed 24/5, from Sunday 8:00 pm ET through Friday 7:59 pm ET. Meanwhile, once issued, the tokens trade peer-to-peer across supported blockchains around the clock. Each token is fully backed 1:1 by the underlying security held with a regulated custodian. As a result, holders gain economic exposure to the asset, including dividends, without owning the share through a traditional broker.
Why a $721B Manager Going On-Chain Matters
Most tokenized ETFs to date have been wrapped by third parties rather than by the original issuer. In contrast, Mirae is putting its own funds directly into the tokenized stack. Consequently, the deal signals that mainstream Asian institutions are starting to treat tokenization as a distribution channel, not just an experiment. Korean regulators have moved cautiously on retail crypto products. However, by routing tokenization through Ondo’s US and EU regulated rails, Mirae sidesteps some unresolved domestic questions. Furthermore, the partnership gives Global X ETFs direct access to wallet-native investors across new regions. That expands the firm’s distribution beyond traditional brokerage channels.
Ondo’s Broader Stack and Recent Momentum
Ondo has been steadily assembling regulated infrastructure for tokenized securities. Through its acquisition of Oasis Pro, the firm secured a US digital assets broker-dealer, alternative trading system, and transfer agent. Additionally, Ondo holds regulatory approval to serve more than 500 million investors across 30 European countries. The platform also recently expanded into wallet-native distribution. For example, MetaMask added tokenized US stocks, ETFs, and commodities via Ondo Global Markets earlier in 2026. Together, these moves push Ondo deeper into the role of issuance backbone for traditional managers going on-chain.
A Pattern of Asset Manager Onboarding
The Mirae announcement fits a clear pattern building inside Ondo’s pipeline. Earlier in 2026, Franklin Templeton partnered with Ondo to tokenize five of its ETFs for 24/7 wallet-based trading. Additionally, Ondo’s wider real-world asset stack has integrations and collaborations with BlackRock, Fidelity, State Street, WisdomTree, and Wellington. Now, Mirae adds a non-US, $721 billion manager to that list. As a result, the tokenized ETF category is shifting from third-party wrappers to issuer-led products. For readers tracking the on-chain capital markets thesis, this is the more important structural shift.
What to Watch Next
The MOU sets direction without locking in a final product catalog. Therefore, the next signals to watch are concrete. First, the Q3 2026 listing of the tokenized Global X HSCEI Covered Call Active ETF share class. Second, any disclosures on which additional Global X ETFs enter the tokenized pipeline. Third, the jurisdictions where Mirae and Ondo will offer the tokens to retail and institutional buyers. Finally, watch for follow-on partnerships with other Asian managers, since Mirae’s move sets a regional precedent. Ondo’s positioning as the issuance partner of choice keeps strengthening with each name added.
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