Ondo Finance is evaluating a potential acquisition valued between $250 million and $500 million as the tokenization company considers expanding into wealthtech and other financial sectors, according to a CoinDesk report.

The New York based company has not appointed formal advisers and has not entered discussions with a specific target, CoinDesk said in the report.

“As a fast growing company, Ondo regularly evaluates the market as part of normal business operations. We are not in conversations with any party at this time,” an Ondo representative told CoinDesk.

Founded in 2021 by former Goldman Sachs executives, Ondo brings traditional financial assets onchain through products including tokenized US Treasuries and stocks.

The company oversees more than $2.5 billion across its products, making it one of the largest providers of tokenized real world assets.

Ondo has raised about $24 million in venture funding since its launch, alongside roughly $10 million from a public ONDO token sale.

The potential deal comes amid strong crypto acquisition activity in 2026 as financial and digital asset companies seek licenses, technology, and distribution.

The sector recorded 89 transactions worth $3.2 billion during the first quarter, followed by $12.9 billion in disclosed deal value during the second quarter, according to Architect Partners.

Payments, stablecoins, custody, tokenization, and institutional trading infrastructure have been among the most active areas.

Recent transactions include Kraken’s $550 million acquisition of Bitnomial, Keyrock’s purchase of BlockFills’ trading and brokerage assets, and Bullish’s $4.2 billion acquisition of investment platform Equiniti.

ONDO was trading about 6% higher over the previous 24 hours at roughly $0.42 at publication time.