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Ondo has launched tokenized exposure to Strategy’s STRC preferred shares on-chain, offering a roughly 11.5% annualized yield paid monthly. The product is now live across Ethereum, BNB Chain, and Solana, giving crypto-native users access to a yield profile typically found in traditional markets.
The launch expands tokenization beyond widely traded equities into preferred shares, a segment typically used for income rather than price exposure. It also places a high-yield TradFi product directly inside DeFi rails, where comparable returns remain limited.
Tokenized $STRC is now live.
Stretch (STRC) is @Strategy's perpetual preferred stock paying monthly dividends, currently yielding 11.5%.
Now available across Ethereum, BNB Chain, and Solana through Ondo Global Markets. pic.twitter.com/k7Hi6oeQsK
— Ondo Finance (@OndoFinance) May 4, 2026
STRC is structured as a variable-rate perpetual preferred stock designed to trade close to its $100 par value. Strategy adjusts the dividend rate monthly to keep the price stable, increasing payouts when the price drops and lowering them when it rises.
As of May 2026, the dividend has been maintained at 11.5%, following gradual increases from 9% since its launch in mid-2025. That places it above most short-duration instruments such as Treasury bills and money market funds over the same period.
The tokenized version mirrors this economic exposure but doesn’t grant direct ownership or voting rights.
Instead, it is issued as a blockchain-based note tracking the underlying asset and its dividend flows, with custody and pricing handled through regulated off-chain custody and broker infrastructure.
Ondo’s decision to deploy STRC across three major networks reflects a broader push to distribute tokenized assets where liquidity already exists. Ethereum remains dominant for institutional flows, while BNB Chain and Solana offer lower-cost access for retail participants.
This follows Ondo’s earlier expansion into tokenized stocks and ETFs, which have collectively driven billions in trading activity. The addition of STRC signals a shift toward yield-bearing instruments rather than pure price exposure.
Ondo has been selected in DTCC's Industry Working Group to advance tokenization in the U.S.@The_DTCC custodies over $114 trillion in assets and clears $3.7 quadrillion annually. It is now building a tokenization service designed to bring the core of U.S. capital markets… pic.twitter.com/QdXpMA66F4
— Ondo Finance (@OndoFinance) May 4, 2026
At the same time, Ondo’s involvement in DTCC-led tokenization discussions alongside firms such as BlackRock and JPMorgan highlights how these products are moving closer to traditional market infrastructure.
The 11.5% yield is a key draw, especially when compared with on-chain alternatives. ETH staking yields have remained below 4% in recent months, while most stablecoin strategies offer under 5% unless additional risk is taken.
The gap raises a key question. Will DeFi capital rotate into tokenized TradFi yield when the spread becomes this wide?
There is also a structural consideration. STRC dividends are supported by Strategy’s cash reserves, business revenue, and continued issuance of preferred shares. That model depends on continued demand and new capital inflows, which could weaken if liquidity tightens or if yield compression returns across markets.
Other platforms such as Backed Finance and xStocks have expanded tokenized equity offerings, but similar high-yield preferred instruments remain limited, making STRC one of the first real tests of this category.
Ondo’s launch places a new type of asset in front of crypto investors, but its long-term traction will depend less on headline yield and more on whether sustained demand can support the underlying structure across market cycles.
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