Owning PEPON: Uses, Storage and Risks

PEPON is Ondo’s tokenized version of PepsiCo stock. It is designed to give you economic exposure similar to holding PEP, including reinvestment of any dividends. It is not the same thing as owning PepsiCo shares directly, so don’t assume you have shareholder voting rights or the same legal protections as a direct shareholder.

Ondo says its tokenized stocks let eligible non-U.S. retail and institutional users mint and redeem tokens around the clock, five days a week, with access to traditional exchange liquidity. Additional restrictions apply, and eligibility can depend on where you live and other requirements. Check the current terms before you acquire PEPON or count on being able to redeem it.

As of November 8, 2026, PEPON was about $144.53, with a reported market capitalization of about $2.3 million. These figures can change quickly and do not guarantee that you can sell or redeem at that price.

PEPON is issued on Ethereum, BNB Chain and Solana. These are separate networks: a wallet address or token on one chain is not automatically usable on another. Before sending PEPON, confirm that the receiving wallet and the service you are using support the same network as the token you hold.

The reported circulating and total supply were both about 15,783 PEPON as of November 8, 2026. No maximum supply is reported. Supply can change, so check current token details before making calculations about your share of the supply or the market value of your holdings.

You’ll need a wallet that supports the relevant network and PEPON’s exact token identity. Network names alone are not enough: check the token contract or other identifier against Ondo’s official materials, particularly before accepting a token or sending funds. The token facts do not specify contract addresses, wallet recommendations or network fees; transaction fees depend on the chain and its conditions.

Treat PEPON like a tokenized financial product, not a routine stablecoin transfer. Its value can move with PepsiCo shares, but the token may also trade at a premium or discount to the exposure it is intended to represent. Trading volume and liquidity can vary; the reported 24-hour volume was about $29,000 on November 8, 2026, which is a snapshot rather than a promise that you can exit at a particular price.

You also depend on Ondo’s product structure and its minting, redemption and eligibility rules. Those rules can affect whether you can access or redeem the token. A tokenized asset can carry issuer, custodian, legal, market and smart-contract risks, and the token is not itself a conventional PepsiCo share. The product description does not specify the rights attached to the token beyond economic exposure and dividend reinvestment.

Before relying on PEPON for a particular financial purpose, read the current product terms and consider whether you can tolerate losing access, value or the ability to transact when you want.

Use a wallet you control if you want self-custody, and secure its recovery phrase offline. Never share that phrase or enter it into a site or message claiming to help you claim, verify or redeem PEPON. A hardware wallet can reduce exposure to online key theft, but it must support the chain and token you actually use.

For every transfer, check the network, destination address and token identifier before confirming. A transfer sent on the wrong chain or to an unsupported address may be difficult or impossible to recover. Keep a small amount of the relevant chain’s native asset available for transaction fees, and be wary of fake PEPON tokens or unsolicited instructions to connect your wallet.

If you hold PEPON through a platform instead, check its custody, withdrawal and redemption terms, along with whether your location is eligible. Don’t assume that a displayed balance means you can withdraw or redeem at any time. The product description does not publish specific wallet, custody or fee arrangements.