Owning MAON: Uses, Wallets and Risks

MAON is Ondo’s tokenized version of Mastercard (MA), designed to give you economic exposure similar to holding Mastercard, with dividends reinvested. It is not the same as Mastercard’s stock held directly in a brokerage account, and it is not Ondo’s separate ONDO token. Don’t assume MAON gives you shareholder voting rights or a direct claim on dividends; check Ondo’s terms to understand the rights attached to the token.

Ondo describes its tokenized stocks as available to eligible non-U.S. retail and institutional users, with restrictions. Minting and redemption are described as available 24 hours a day, five days a week, with access to traditional exchange liquidity. Eligibility and redemption terms can affect whether you can obtain or exit MAON, so check those rules before relying on it as a substitute for ordinary shares.

MAON is issued on Ethereum, Solana and BNB Chain; it is not the native token of any of them. To hold it in a self-custody wallet, use one that supports the particular network and MAON token. A wallet that supports Ethereum, for example, may not automatically support your MAON on Solana or BNB Chain.

Before receiving or sending tokens, confirm the network and token contract address through an official Ondo channel. A token with the same name or symbol on the wrong network may not be the asset you intend to transfer. Sending to an incompatible address or using the wrong chain can make funds difficult or impossible to recover. If you use a centralized platform instead, check that it supports MAON deposits and withdrawals on the exact network you plan to use. Network fees are paid in that chain’s native asset, not in MAON.

The reported circulating and total supply was about 2,179 MAON as of 2026-11-08. No maximum supply is specified. These figures can change, so check current supply information before using them to assess the token.

For context, the reported market capitalization was about $1.4 million on that date. That is a snapshot, not a measure of how easily you can sell a particular amount. Tokenized assets can have thinner on-chain trading than their underlying stocks, and market prices may differ from the value they are intended to track. Check the available trading and redemption routes, their eligibility rules and current liquidity before you commit funds. Past prices and market data do not establish what MAON will be worth later.

For self-custody, choose a wallet that supports MAON on its specific chain. Keep your recovery phrase offline and private; anyone who gets it may be able to take your tokens. A hardware wallet can reduce exposure to online account compromise, but it does not protect you from entering the wrong address or approving a harmful transaction.

Before moving a large amount, consider a small test transfer. Check the destination address, network and token contract carefully, and avoid links or messages asking you to reveal your recovery phrase. If MAON is held with a platform, secure your account with a unique password and available two-factor authentication, and understand what happens if the platform restricts withdrawals. Keep a record of which wallet and network hold your tokens so you can access them later.

MAON combines crypto-token risks with risks tied to tokenized securities. Its value may not track Mastercard shares perfectly, and the token’s price and liquidity can vary while traditional markets are closed. The ability to mint or redeem may depend on your eligibility, platform access and applicable restrictions. Read Ondo’s terms to understand the token’s legal rights, backing, custody arrangements and redemption process before relying on it.

You also face blockchain risks: a mistaken transfer, compromised wallet, malicious approval or network disruption can lead to losses. The token’s market price can fall, and there is no guarantee you can sell at a particular price or time. Holding MAON does not remove the risks of Mastercard’s business or the wider stock market. Treat it as a distinct product, not as risk-free cash or an automatic replacement for directly held shares.