Ondo Finance (ONDO), which works on tokenizing real-world assets (RWA), is cautious about Nasdaq’s proposal to tokenize stocks and exchange-traded funds (ETFs).
The company said the proposal needed more transparency before moving forward.
In a letter sent to the U.S. Securities and Exchange Commission (SEC) this week, Ondo Finance requested more information regarding Nasdaq’s plan to trade “securities in token form” through the Depository Trust Company (DTC), an organization known for providing centralized custody and clearing services for securities transactions.
The company made the following statement in its statement:
Ondo Finance operates as a platform that enables the tokenization of money market funds, U.S. government bonds, and stocks on the blockchain. The company is also affiliated with the Trump family-backed World Liberty Financial Project, which acquired ONDO tokens for its strategic token reserve.
Tokenization has become one of the hottest topics in financial markets recently. Nasdaq argued in an amendment to its proposal submitted to the SEC last month that tokenization could be implemented without waiving key investor protection rules.
The SEC is also paying particular attention to tokenization, with Commissioner Hester Peirce saying it is a “big focus” for the agency.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/binance-listed-altcoin-sends-urgent-letter-to-sec-following-nasdaqs-latest-move/
