Eight months ago we launched Ondo Global Markets with a clear thesis: global investors want access to U.S. financial assets, and tokenization is the right infrastructure to deliver it. Today, Ondo Global Markets crossed $1 billion in TVL, the first tokenized stocks platform to do so. Getting here required solving two problems that every other platform had failed to crack: accessibility and liquidity. Many platforms were still walled gardens. Tokens couldn't leave the platform, couldn't be self-custodied, couldn't be used in DeFi. The platforms that did allow free transferability relied on prefunded liquidity pools and market makers holding inventory, a model that produces huge price dislocations and simply doesn't scale to hundreds of equities. Ondo Global Markets is built differently: liquidity inherited directly from NYSE and Nasdaq order books, tokens freely transferable from day one, just like stablecoins. The result is execution consistently well under 5 bps across hundreds of assets. The results speak for themselves: $18B in cumulative volume, nearly 70% market share, and tens of thousands of holders across 260+ tokenized stocks and ETFs on Ethereum, Solana, and BNB Chain. This is a meaningful milestone for Ondo and for the tokenization category broadly, but the bigger opportunity is still ahead. Global capital markets are $200+ trillion, and Ondo Global Markets has established itself as the standard for how tokenized stocks and ETFs should be built.