Ondo Finance to Buy SEC-Regulated Broker Oasis Pro for U.S. Tokenized Stock Push

Tokenization level Ondo Finance ONDO said it agreed to bargain Oasis Pro, a regulated brokerage platform, laying the groundwork for rolling retired tokenized stocks successful the coming months.

The acquisition, whose terms was not disclosed, would springiness Ondo a bundle of U.S. securities licenses: a broker-dealer, Alternative Trading System (ATS) and transportation cause regulated by the U.S. Securities and Exchange Commission, a institution connection said.

Tokenization firms person progressively sought regulated entities to participate the U.S. marketplace arsenic involvement successful blockchain-based securities soars. Tokenization aims to bring accepted fiscal instruments specified arsenic bonds, stocks and funds on-chain, promising faster and 24/7 settlements, broader capitalist entree and programmable transactions. Reports from Ripple, BCG, McKinsey, and Standard Chartered person projected that tokenized assets could standard into the trillions of dollars implicit the adjacent decade.

This year, U.K.-based Archax acquired FINRA-regulated broker-dealer Globacap Private Markets to grow into the U.S. and Prometheum besides announced a broker-dealer acquisition and transportation cause launch.

"This acquisition combines our brokerage level and licenses with Ondo’s existing institutional-grade infrastructure and products, a broad instauration for a regulated tokenized securities ecosystem," said Oasis Pro CEO Pat LaVecchia, who is acceptable to articulation Ondo erstwhile the acquisition closes.

Oasis Pro, founded successful 2019 by, was 1 of the archetypal U.S. firms authorized to settee integer securities successful some fiat and stablecoins similar USDC and DAI. It besides contributed to shaping regulatory argumentation done FINRA’s Crypto Working Group.

Ondo, which already manages implicit $1.4 cardinal successful tokenized assets, said it plans to rotation retired tokenized stocks for non-U.S. investors via its Global Markets level successful the coming months. Exchanges including Robinhood, Gemini, Kraken, and Bybit person introduced akin offerings recently.

The woody is pending regulatory approval.

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