Summary
- The Financial Services Regulatory Authority of Abu Dhabi Global Market said it has allowed trading of Ondo Finance’s tokenized equities and exchange-traded funds (ETFs) within its regulatory framework.
- With the approval, UAE-based financial institutions and intermediaries will be able to officially handle equities in digital form.
- ADGM has approved trading of tokenized securities under its own regulatory framework for the first time, and the products will be offered to investors outside the United States.
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Abu Dhabi’s regulator has approved trading in Ondo Finance’s tokenized equity products.
According to CoinDesk, a crypto-focused outlet, on the 3rd, the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) permitted trading of Ondo Global Markets’ tokenized equities and exchange-traded funds (ETFs) within its regulatory framework. As a result, UAE-based financial institutions and intermediaries will be able to officially handle equities in digital form.
This marks the first time ADGM has approved tokenized securities trading under its own regulatory framework. The products are structured as equity-linked notes tied to the underlying shares and are offered to investors outside the United States.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
