At first glance, Ondo and Strium appear to be pursuing the same opportunity. The distinction becomes clearer once the stack is separated into products and infrastructure.
Ondo issues and distributes regulated onchain assets within existing legal frameworks. Strium, per Startale’s announcement, leaves issuance and custody with regulated entities and positions itself as the exchange layer where those assets trade.
The interesting question, then, is not whether Strium can become “the Ondo of Asia.” It is whether it can become the venue that projects like Ondo eventually need.