Mastercard (Ondo Tokenized Stock) 

MAON Price

What is Mastercard (Ondo Tokenized Stock) (MAON)?

MAON is an ERC-20 token on Ethereum that gives crypto traders onchain exposure to Mastercard Inc. (NYSE: MA) common stock — price exposure packaged into a transferable token, without leaving crypto venues. Ondo Global Markets (BVI) Limited issues each MAON token as a "total return tracker" of one MA share. Holders gain near-24/7 transferability and DeFi usability that NYSE market hours don't allow. The product targets non-U.S. retail and institutional users.

Which asset does the MAON token represent?

Each MAON token tracks the economic performance of one Mastercard (NYSE: MA) common share. MAON confers no voting rights and no shareholder rights — holders get economic exposure only, not direct title to the stock. Mastercard and Ondo Finance announced a partnership on the Mastercard Multi-Token Network (MTN) on February 26, 2025; the corporate partnership is separate from the MAON instrument.

What backs MAON's value?

MAON tokens are fully backed by the underlying Mastercard stock plus cash in transit, held with one or more U.S.-registered custodial broker-dealers. Ondo Global Markets (BVI) Limited — a dedicated special-purpose vehicle separate from Ondo Finance Inc. — is the issuer, with Flux Finance, Inc. as majority owner and additional-collateral guarantor. Daily attestations have been published via Ankura Trust Company since October 1, 2025. Spearbit and Cyfrin audited the smart contracts.

Why does MAON have no fixed maximum supply?

MAON supply expands and contracts with user minting and redemption, so no maximum exists by design. Minting and burning are instant, atomic, and fee-free, with fractional purchases supported. As of the August 2026 data stamp, supply stood in the low thousands of tokens — a snapshot of a small float, not a cap. Direct mint/redeem via the Ondo platform requires KYC onboarding, currently open to institutional participants only.

How does MAON handle Mastercard dividends?

Dividends are not paid out to MAON holders — Ondo reinvests distributions into the underlying Mastercard stock, net of withholding tax. One token's economic exposure therefore starts around one MA share and can drift above it over time. The reinvestment mechanism makes MAON a total-return instrument rather than an income instrument.

Does Ondo Finance offer tokenized equities?

Yes — Ondo Global Markets, the SPV within the Ondo Finance group, issues tokenized U.S. stocks including MAON. Tokens are issued on Ethereum, BNB Chain, and Solana, with bridged transferability to HyperEVM. Distribution runs through exchange listings and wallet integrations: MetaMask added tokenized U.S. stocks and ETFs, including Ondo-issued assets, in February 2026. Any VC fundraising by Ondo Finance relates to the separate ONDO governance token, not to this wrapper.

Can you buy the MAON tokenized stock in the US?

No — the Ondo platform labels the product "Not Available in US." MAON targets non-U.S. retail and institutional users. U.S. residents cannot access direct mint and redemption, since onboarding requires KYC and institutional eligibility. Secondary-market availability on centralized exchanges depends on each venue's regional restrictions.

Is MAON traded on centralized or decentralized exchanges?

Per DropsTab data, every tracked MAON market is a spot pair against USDT on centralized exchanges — no DEX pools are tracked. Tracked venues include MEXC, whose MAON listing is part of a broader MEXC–Ondo partnership adding Ondo tokenized-stock spot pairs since early 2026. The CEX-only structure means liquidity concentrates in order books rather than on-chain pools.

Why can MAON's price diverge from Mastercard stock?

Thin liquidity creates the divergence risk. The MAON float is small — supply in the low thousands of tokens — and CEX order books for tokenized equities are thin. Prices can stray from the underlying MA share, especially during Off-Hours sessions when U.S. markets are closed and arbitrage is constrained. Peer wrappers of Mastercard exposure (Backed xStocks, Reality Protocol rTokens) trade on different venues — verify the ticker before trading.

Is MAON the same as the ONDO token?

No — the two are separate instruments. MAON is a tokenized-stock wrapper tracking Mastercard shares, issued by Ondo Global Markets (BVI) Limited. ONDO is the governance token of the Ondo Finance protocol. MAON has no vesting schedule, no funding rounds, and no airdrop campaigns — a mintable/redeemable wrapper has no TGE allocations, cliffs, or scheduled unlocks. Only demand-driven mint and redeem flows move MAON supply.