Ondo Finance

Wall Street is going onchain. This week, major institutions advanced always-on markets and tokenized funds, while regulators moved to modernize rules for onchain securities. This week in tokenization ↓ 1️⃣ Wall Street’s tokenization push accelerates Forbes highlighted JPMorgan’s Kinexys processing more than $7B daily, Citi forecasting a $5.5T tokenized asset market by 2030, and Ondo’s USDY among the largest tokenized Treasury products. https://lnkd.in/gdQTKsjR 2️⃣ Nasdaq advances its always-on markets strategy Nasdaq agreed to acquire LeveL Markets as it builds programmable, always-on infrastructure spanning traditional and digital markets. https://lnkd.in/gxsJE-jU 3️⃣ SEC staff grants no-action relief for Franklin Templeton’s onchain fund The letter covers specified custody arrangements for affiliated Franklin Templeton funds investing in BENJI for cash management purposes. https://lnkd.in/gZe6dUed 4️⃣ Ondo calls for one market standard Ondo submitted a comment letter supporting the proposed rescission of Rule 611 and calling for equal execution standards across tokenized and traditional securities. https://lnkd.in/gK4ZyVf3 5️⃣ The UK moves toward tokenized gold UK regulators, led by the FCA, are reportedly developing a framework for tokenized gold, including its potential use as collateral in wholesale markets. https://lnkd.in/gxZDMiZs 6️⃣ Itaú advances Brazil’s tokenization pilot Itaú announced a new initiative within ANBIMA’s pilot to explore tokenized debentures and investment funds. https://lnkd.in/gwec6iX9

This week, Ondo submitted a comment letter to the SEC on its proposal to rescind Rule 611 of Regulation NMS, the rule governing how every U.S. stock trade has executed since 2005. Rule 611 routes orders to whichever venue shows the best price, built for a market with one execution model. Two decades later, tokenized and traditional securities trade side by side, and increasingly need to interact directly to work best for investors. Ondo's letter supports rescission, since the SEC's Rule 611 predates tokenization and was never built to account for markets where tokenized and traditional securities trade side by side. But rescission alone isn't enough. Ondo's letter also asks the SEC to consider: → Equal execution standards for onchain and offchain markets alike → Competed RFQ, so tokenized orders are priced and filled competitively → Confirmation that neutral execution infrastructure can operate without new registration Ondo Stocks already routes trades directly into existing exchange order books, rather than recreating liquidity separately, by choice, not regulatory mandate. Tokenized markets work best on the same competitive terms as the ones they're built on, not lesser ones. Ondo looks forward to working with the Commission to define what the post-Rule 611 standard should look like, one built for tokenized and traditional markets to work side by side. Read the full letter: https://lnkd.in/gK4ZyVf3

BlackRock's Larry Fink has a name for tokenization: “the next generation for markets.” A new Forbes piece points to Fink's words, and Ondo's growth, as evidence the era of tokenized markets has finally arrived. “Tokenization is at last becoming a Wall Street business, not merely a crypto slogan.” The article highlights what's happening across the biggest names in finance: → JPMorgan moving $7B daily onchain → Citi projects $5.5T tokenized by 2030 → DTCC launching tokenized settlement → Wells Fargo tokenizing deposits this fall The piece also names Ondo as one of the institutional-grade platforms building out tokenized finance, alongside BlackRock and Circle. The banks, asset managers, and the clearinghouse behind $15 trillion a day in trades are all building toward the same tokenized future. Full article: https://lnkd.in/gdQTKsjR

The institutional era of tokenization is here. This week, three of the biggest names in finance pushed tokenization forward, alongside continued progress on the policy front. Latest news ↓ 1️⃣ RWA deposits in DeFi triple to $7.4B A CoinShares and Token Terminal report found tokenized real-world asset deposits in DeFi lending and DEXs grew from $2.3B to $7.4B year over year. https://lnkd.in/gBJTkG32 2️⃣ BlackRock launches two more tokenized money market funds BSTBL and BRSRV are designed to serve as eligible reserve assets for stablecoin issuers, expanding BlackRock's tokenized cash platform. https://lnkd.in/grD7pEeK 3️⃣ Wells Fargo to launch tokenized deposits The bank will roll out blockchain-based deposit tokens for corporate and commercial clients this fall, starting with USD-GBP cross-border payments, enabling 24/7/365 settlement within the regulated banking system. https://lnkd.in/e887Dkvf 4️⃣ Broadridge closes a strong fiscal year, citing tokenization as a driver Broadridge posted 12% adjusted EPS growth and tripled its tokenized repo volumes to $360B, highlighting governance partnerships with Ondo, Alpaca, and Galaxy as it becomes the first provider to support all three tokenized securities models. https://lnkd.in/gT9Dbcdh 5️⃣ CLARITY Act vote pushed to September The Senate confirmed it will not vote on the Digital Asset Market Clarity Act before the August recess, pushing floor consideration to mid-September. Ondo's Peter Curley, head of global regulatory affairs, remains optimistic: "A bill is dead when people leave, and there are still a lot of people around who care about it." https://lnkd.in/gjYApdhv

Pleased to share that have started a new role as VP of Operations at Ondo Finance. Ondo is doing the most important work in bringing real world assets onchain. I couldn't be more excited to be part of it. 🚀 https://ondo.finance/

We're #hiring a new Senior Backend Engineer in United States. Apply today or share this post with your network.

Ondo has appointed Adam Schlisman as Chief Financial Officer. Schlisman, a CFA charterholder, brings two decades of experience across digital assets and global capital markets. He joins from Monashee Investment Management, a global macro hedge fund, where he served as CFO. Prior to that, he was CFO of Blockchain․com, leading global finance, treasury, and risk through significant growth. Earlier, he spent nearly a decade at Graham Capital Management in portfolio management and risk roles. His background bridging traditional finance and digital assets fits squarely into Ondo's next chapter, scaling the financial infrastructure behind tokenized capital markets. More details: https://lnkd.in/gPSKhNuT

We're #hiring a new Content Marketing Manager in United States. Apply today or share this post with your network.

CLARITY for digital assets is still in play. In a new Forbes piece, Peter Curley, head of global regulatory affairs at Ondo, breaks down where the CLARITY Act stands: “A bill is dead when people leave, and there are still a lot of people around who care about it.” Ondo's Peter Curley believes there's already enough common ground for a deal, well past this week and after the November election. If signed into law, the CLARITY Act would: → Define digital assets in U.S. law → End years of regulatory uncertainty → Establish clear SEC and CFTC jurisdiction → Open the door for institutional participation Every step toward clarity is a step toward bringing the world's financial system onchain. Ondo looks forward to what comes next for tokenized markets and the investors they serve. More from Peter Curley in Forbes: https://lnkd.in/gjYApdhv

We're #hiring a new Controller, Investment Operations in United States. Apply today or share this post with your network.