Former Republican Congressman Patrick McHenry Joins Crypto Firm Ondo Finance as an Advisor

Patrick McHenry, former Republican congressman from North Carolina and House Financial Services Committee chair, has joined crypto firm Ondo Finance.

A day after joining venture capital firm Andreessen Horowitz and fintech firm Stripe, former Republican congressman Patrick McHenry has announced he’ll be joining crypto firm Ondo Finance.

McHenry, who served as the House Financial Services Committee chair and is known for his work on the bipartisan drive that led to the passing of FIT21, will be joining Ondo’s advisory board.

The former Congressman will bring a lot of experience to the Ondo Finance advisory board, having been instrumental in the bipartisan drive that led to the passing of FIT21. Ondo expects McHenry to play a crucial role in the firm’s regulatory, relations strategy and thought leadership as it takes a leading role in the tokenized securities ecosystem.

“As the tokenization of real-world assets transforms capital markets, we believe thoughtful engagement with policymakers and regulators is critical,” said Nathan Allman, founder and chief executive of Ondo Finance.

“Chairman McHenry’s decades of unparalleled leadership in financial services policymaking and his commitment to responsible innovation will be invaluable as we continue to build infrastructure that bridges traditional finance and blockchain technology.”

In a comment, McHenry said: “The tokenization of real-world assets has the potential to unlock trillions of dollars in value by making markets more accessible and efficient. Ondo Finance has emerged as a clear leader in this space with a thoughtful approach to working within existing market infrastructure.”

Ondo Finance’s increased footprint as a leading blockchain-based financial platform has grown in recent months.

In particular, the real-world assets platform took a major step in cementing this with the unveiling of its Ondo Chain. Announced during the Ondo Summit in early February, Ondo Chain is a layer 1 blockchain designed to accelerate institutional adoption of onchain finance.

McHenry’s role at the crypto firm will include making Ondo the digital asset leader in this space.