According to Ondo Finance’s official blog, Ondo Finance recently submitted a no-action request to the U.S. Securities and Exchange Commission (SEC), seeking confirmation that the SEC will not take enforcement action against its model for tokenizing and managing specific securities interests on the Ethereum mainnet. The request pertains to its Ondo Global Markets (OGM) product, which currently offers tokenized notes providing exposure to U.S. stocks and ETFs for non-U.S. investors. Under this model, the underlying securities remain within existing legal, custody, and recordkeeping frameworks, with official books and records unchanged. Only in limited circumstances are the relevant securities interests tokenized and mapped onto the Ethereum mainnet, where they are held by custodian BitGo to support recordkeeping and operational processes.
Ondo Finance Submits No-Action Request to SEC for OGM Product Tokenization
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Summary
Ondo Finance has submitted a no-action request to the SEC as part of its initiative to tokenize securities through its Ondo Global Markets (OGM) product. The company is seeking regulatory clarity regarding enforcement related to its Ethereum-based tokenization model. OGM currently provides tokenized notes to non-U.S. investors seeking exposure to U.S. equities and ETFs. Under this model, the underlying assets remain within traditional legal and custody systems, while only limited securities rights are tokenized on Ethereum and held by BitGo. This SEC development highlights Ondo’s effort to align blockchain innovation with existing regulatory frameworks, underscoring increasing interest in tokenized financial products.
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