PG&E (Ondo Tokenized) Price

PG&E Tokenized Stock (Ondo), trading under the ticker PCGon, is a tokenized representation of PG&E Corporation common stock issued by Ondo Finance. It falls squarely within the Real World Asset (RWA) sector, operating as a direct on-chain proxy for a traditional equity.

The token bridges the gap between conventional equity markets and decentralized finance. By tokenizing a regulated utility stock, the asset enables round-the-clock transferability and fractional ownership of an instrument typically confined to exchange operating hours and broker-mediated settlement. It eliminates the temporal rigidity of the NASDAQ or NYSE, embedding a legacy asset into a permissionless, composable environment.

The asset operates on the Ethereum, Solana, and BNB Smart Chain networks. Rather than a standalone chain, it manifests as three parallel implementations: an ERC-20 on Ethereum, an SPL token on Solana, and a BEP-20 on BSC.

The Ethereum contract is deployed at 0x193fdf644451cc394b28b9cec2f5d32e2b4de515, the Solana mint begins with UP5s1srLaHDc, and the BSC instance resides at 0x47b36ddb9d12a8411f78226f55e8c3f0d65481f. These three mirrored contracts are linked to the same underlying custodial reserve of PG&E shares held by Ondo Finance, ensuring 1:1 backing.

Ondo Finance, known for its asset tokenization infrastructure, launched the PCGon token as part of its Ondo Global Markets suite. No specific founding date is disclosed, but the product emerged amid a broader push to onboard traditional securities to blockchain rails. It remains active on one market with minimal daily volume, reflecting an early stage of adoption rather than a high-liquidity environment.

The project’s structural objective is to rewire equity ownership for infrastructure built around smart contracts. Instead of merely digitizing a stock certificate, the token allows the underlying dividend-paying instrument to interact programmatically with lending protocols, collateralized debt positions, and automated portfolio strategies.

Each PCGon token constitutes a fractional beneficial interest in the corresponding PG&E share held in Ondo Finance’s custody. The token itself serves as the settlement instrument for on-chain transfers, eliminating the T+2 settlement cycle. Within DeFi, it can be posted as collateral, sliced into smaller denominations, or paired with stablecoins in decentralized exchange pools.

A holder can supply PCGon to a liquidity pool to earn swap fees or lend it on a money market to generate yield. Borrowers can pledge it to open collateralized debt positions without selling the underlying equity exposure. These functions transform a static, dividend-accruing asset into a dynamic piece of programmable finance.

PG&E Tokenized Stock (Ondo) has a total supply of 112.26397532 tokens. Currently, 112.26397532 are in circulation. With a market capitalization of $1,902.15, PG&E Tokenized Stock (Ondo) ranks #12,221 among all cryptocurrencies.