Ondo Pushes Back on Nasdaq’s Tokenization Plan

[nihalsari]

Ondo Finance is urging the SEC to delay or reject Nasdaq’s proposal to trade tokenized securities. In a letter, the blockchain firm said the plan lacks transparency and could unfairly advantage big players.

Ondo argued that without details on how the Depository Trust Company (DTC) will handle blockchain settlements, regulators and investors can’t fairly assess the proposal. While supportive of tokenization overall, the firm said Nasdaq’s use of non-public information blocks fair industry feedback.

Nasdaq filed the request on Sept. 8. The SEC has until November — or December if extended — to decide.

[Nahid10]

Ondo’s resistance highlights growing competition in the tokenized finance infrastructure space.

[EmTeam]

Differing strategies on compliance and interoperability could shape how tokenized markets evolve.