Owning KOON: Uses, Storage and Risks

KOON is Ondo’s tokenized version of Coca-Cola stock, designed to give you economic exposure similar to holding KO shares, including reinvestment of any dividends. It is a blockchain token, not the same thing as holding Coca-Cola shares directly through a stockbroker. Don’t assume it gives you shareholder voting rights or other rights attached to ordinary shares; check the product terms for what you actually receive.

Ondo describes its tokenized stocks as available to non-U.S. retail and institutional users, with minting and redemption intended to operate 24 hours a day, five days a week and access to traditional exchange liquidity. Additional restrictions apply, so availability depends on your location and eligibility. Before you buy or accept KOON, confirm that you can use the relevant Ondo service and understand how redemption works. A token trading on a crypto exchange is not, by itself, proof that you can redeem it for cash or shares whenever you choose.

KOON is issued on Ethereum, Solana and BNB Chain. To hold it yourself, you need a wallet that supports the specific network and token standard for the KOON you receive. A wallet showing one version may not automatically display or accept KOON on another chain.

Before sending tokens, confirm the receiving wallet supports the same network as the sending platform, and verify the token contract or asset details through a trusted official channel. Sending to an incompatible address or choosing the wrong network can make funds difficult or impossible to recover. Network fees are paid in that chain’s own currency, not necessarily in KOON.

If you use a centralized exchange, check whether withdrawals are enabled for the KOON network you want. Don’t assume that versions on different chains can be swapped or bridged freely, or that a bridge is officially supported. Keep a small test transfer in mind when moving a meaningful amount, and never share your recovery phrase or private keys with anyone claiming to offer token support.

As of 2026-11-08, KOON’s reported circulating and total supply were both about 45,299 tokens; no maximum supply is published. The reported price was about $97.35, with a market capitalization of about $4.4 million on that date. These figures can change, and the token’s market price may not match Coca-Cola’s share price at every moment.

KOON’s value is linked to the underlying stock exposure, but crypto trading can add its own differences: exchange liquidity, trading demand, redemption conditions and the hours when traditional markets are open. Ondo describes minting and redemption as available five days a week, while crypto markets generally trade continuously. That can leave KOON trading when the underlying stock market is closed.

Treat quoted prices and supply figures as snapshots, not guarantees of what you can sell or redeem for. Check the current price, order-book depth, any applicable trading costs and the product’s redemption terms before relying on a displayed value. A token’s market capitalization also does not tell you how much liquidity is available to exit a position.

For self-custody, store KOON in a wallet that supports its chain, and protect the recovery phrase offline. Never enter that phrase into a website or share it with someone offering to fix a transfer. If you lose the phrase or send KOON to the wrong network or address, there may be no central party able to restore access.

There are several risks to weigh. KOON is an issuer-linked tokenized asset, so you depend on the issuer’s systems and the arrangements behind the token, not only on Coca-Cola’s business. Smart-contract or network problems could affect transfers. Redemption may be subject to eligibility, location limits or other restrictions, and a token’s exchange price can diverge from the underlying stock exposure. You also face ordinary stock-price risk: Coca-Cola shares can fall in value.

Use only a wallet or trading service you understand, confirm the token and network before signing a transaction, and review Ondo’s current terms for custody, redemption and restrictions. Don’t treat KOON as a substitute for a brokerage-held share unless you have verified the rights and protections you need.