Ondo Finance launched a monetized securities product based on the existing securities hosting system in the United States, with the first targets being Belet ETF IVV and Light Technology stocks. The company disclosed that the relevant coins, issued on the Ether Workshop through its registered transfer agent, Oasis Pro TA, acquired last year, are not currently open to United States investors.

Bottom securities are still in the traditional chain of trust

In accordance with Ondo ' s design, the IVV and Light equities themselves remain within the existing securities custodian system in the United States and are held by a regulated custodian. Oasis Pro TA forms equivalent monetization rights at 1:1 on the Ether.

This means that the chain tokens do not replace the previous securities hosting arrangements, but operate under the existing brokering, transfer agent and hosting controls. Ondo describes this structure as the first official landing of the United States SEC hosting monetization model.

Broadridge is responsible for voting and communicating with shareholders.

The financial infrastructure service provider Broadridge will be responsible for proxy voting, regulatory disclosure and shareholder communication. According to the company, investors holding these tokens have the same governance rights as holders of traditional voucher account holders.

This is also one of the key issues in the current discussion of monetization stocks. The market had previously been concerned about whether chain-based stock tokens would give holders the same rights as traditional shares if the issuer was not directly involved.

  • The first targets included Belet, ETF, IVV, and Mirror Stock.
  • The token is issued by the Taifeng by pressing 1:1 to the bottom securities
  • The product is not currently open to United States investors

The competition for tokenized stocks continues to rise.

In January this year, the staff of the United States Securities Commission issued a statement on how monetized securities under the third-party hosting model fit the existing securities law. While such staff members declare that they are not equivalent to the formal rules of the Commission, they usually reflect the direction of the supervisory community in dealing with related issues.

In the recent past, monetized shares have been warming in parallel with traditional financial institutions in the encryption industry. Robinhood has recently expanded the monetization of monetized stocks, and the DTCC is advancing the block chain infrastructure, and NASDAQ and the New York Stock Exchange have previously announced a monetization plan.

Ondo states that the company currently covers more than 430 monetized shares and ETFs in markets outside the United States, with the associated products of more than $1 billion.

Additional information:Last year, OpenAI publicly stated that Robinhod was not authorized to introduce a monetized product linked to his shares and stressed that the relevant coins did not represent the company's equity. The incident also prompted the market to pay more attention to the attribution of rights to monetized shares.