Ondo Unit Oasis Secures FINRA Approval for US Tokenized Securities Business

Ondo Finance said on July 23 that its subsidiary Oasis Pro Markets had received approval from the Financial Industry Regulatory Authority to handle tokenized securities in the US.

The approval allows Oasis to offer US investors tokenized stocks, exchange-traded funds and mutual funds while complying with Securities and Exchange Commission and FINRA rules. It also covers tokenized products tied to stocks scheduled for initial public offerings.

Oasis is an SEC-registered broker-dealer and also holds alternative trading system and transfer agent licenses.

The company plans to use the approval to build a tokenized asset trading platform in the US. It also plans to offer omnibus accounts for securities firms, investment advisers and institutional investors to manage client assets in an integrated manner.

Ondo Finance, the parent company, currently operates Ondo Global Markets outside the US. The platform's cumulative trading volume has surpassed $20 billion, and total value locked in tokenized stocks stands at $1 billion.

The approval is an important foundation for bringing compliant tokenized securities services to the US market, Ondo Finance said. The company added that it will continue expanding infrastructure that links traditional finance and blockchain.