Ondo Finance Acquires Blockchain Developer Strangelove in RWA Push

Ondo Finance has acquired blockchain development firm Strangelove in a move to strengthen its technical capabilities as competition intensifies in the tokenized real-world assets (RWA) market, the company announced Monday in a statement .

Financial terms of the acquisition were not disclosed. The deal represents Ondo's effort to build vertically integrated capabilities as the tokenized asset market matures and competition from both crypto-native companies and traditional financial institutions increases.

The acquisition brings experienced infrastructure developers to Ondo's team as the company prepares to launch its own blockchain network. Strangelove CEO Jack Zampolin will join Ondo as vice president of Product, bringing experience in protocol design and interoperability systems across multiple layer 1 blockchains.

“This acquisition reinforces our commitment to building the foundational infrastructure to bring financial markets onchain,” said Nathan Allman, founder and CEO of Ondo Finance. “Strangelove’s engineering depth and proven execution will help us bring scalable, interoperable financial products to a global audience,”

The deal comes as the tokenized asset sector faces technical challenges around scalability, interoperability, and institutional compliance requirements. Ondo's move to acquire specialized blockchain developers suggests the company sees custom infrastructure as critical to competing with traditional financial services.

Strangelove's team has worked on interoperability protocols, SDK frameworks, and custom chain deployments across various blockchain ecosystems. The company also operates as a validator, providing additional operational expertise that could prove valuable for Ondo's planned blockchain network.

Ondo positions itself as a full-stack tokenized asset platform, competing with other RWA-focused companies like Centrifuge and Maple Finance. The acquisition appears designed to differentiate Ondo by offering omnichain asset issuance capabilities rather than being limited to specific blockchain networks.

The timing suggests Ondo is preparing for increased institutional demand for tokenized assets, though the market has yet to see widespread adoption beyond pilot programs. Traditional asset managers remain cautious about moving significant assets onchain due to regulatory uncertainty and operational complexity.