Ondo Private Markets has launched the OpenAI Private Markets Note, enabling qualified investors to trade economic exposure to OpenAI on-chain via the Ondo Perps spot order book. The tokenized note allows 24/7 trading without waiting for an IPO, with value calculated based on the realized value per share of OpenAI's common stock as defined in offering documents. The product offers self-custody and free transferability among qualified holders, built on Ondo’s existing infrastructure that supports $3.9 billion in TVL and over 1 million holders. Ondo clarifies that the note does not represent equity or shareholder rights in OpenAI, and the company has no affiliation, partnership, or endorsement relationship with OpenAI.