Ondo Finance Requests SEC Clearance for On-Chain Security Entitlements
Asset management efficiency and transparency are improved when security entitlements are issued as tokens on Ethereum. Ondo Finance has submitted a no-action letter to the SEC requesting confirmation that the regulator will not take enforcement action against this structure. The proposal involves moving rights and transaction records on-chain while keeping underlying stocks and ETF assets in traditional custody through the Depository Trust Company. Administration for the structure would be handled by U.S. broker-dealer Alpaca. The platform, Ondo Global Markets, provides non-U.S. investors exposure to U.S.-listed stocks and exchange-traded funds.
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