KOON: What Coca-Cola’s Ondo Tokenized Stock Is

KOON is Ondo’s tokenized version of Coca-Cola stock, also known by the ticker KO. Its stated purpose is to give tokenholders economic exposure similar to holding KO, with dividends reinvested. It is a crypto token representing exposure to a traditional asset, not Coca-Cola’s own cryptocurrency and not a token used to pay for Coca-Cola products.

The token’s value is intended to track the economics of Coca-Cola shares, but that does not by itself establish that each holder has the same legal rights as a shareholder who owns stock through a broker. Rights, claims and eligibility depend on the product’s governing terms. Review those terms before acquiring KOON, especially if you need to understand how the token relates to the underlying shares or how dividends are handled.

KOON is designed to provide economic exposure to Coca-Cola stock. The issuer describes its tokenized stocks as products that eligible users can mint and redeem, with access to traditional exchange liquidity. The service is described as operating 24 hours a day, five days a week, but additional restrictions apply. Availability may depend on a user’s location, eligibility and the service’s current terms.

This is not the same as buying Coca-Cola shares through a conventional brokerage account. Do not assume the token provides voting rights, direct ownership of shares, or the same protections and procedures as conventional stock ownership unless the applicable terms clearly say so. KOON is also not a claim that Coca-Cola endorses the token. Check the issuer’s documentation and the platform offering KOON to understand fees, redemption conditions, custody arrangements and what happens if a service is interrupted.

KOON is reported as issued on Ethereum, Solana and BNB Chain. It is not identified as the native token of any of these networks; instead, it is an asset available across them. The token’s precise network format and contract address can differ by chain, so make sure a wallet or exchange supports the correct version before sending it.

As of 2026-11-05, the reported circulating supply was about 45,826 KOON. The reported price was about $97.66, with a market capitalization of about $4.5 million. These are point-in-time figures, not fixed terms of the product, and can change. Public sources do not establish a maximum supply. Token supply or price should not be treated as proof of redemption availability or as a guarantee that KOON can always be exchanged at a particular value.

KOON carries both crypto-asset risks and risks tied to the underlying stock. Its market price can move with Coca-Cola shares, but it may also differ from their value because of trading liquidity, supply and demand, or the tokenization service’s operation. Redemptions, access to markets and other product features are subject to terms and restrictions; they should not be assumed to be available to every user at all times. The issuer and the platforms involved also create operational and counterparty risks.

Store KOON only in a wallet that supports its specific chain and token contract, or on a platform that explicitly supports KOON. Protect wallet recovery phrases and private keys, verify the network and receiving address before sending, and consider a small test transfer when appropriate. A mistaken-chain transfer may be difficult or impossible to recover. Read the issuer’s current terms and check local rules before using the product.