Tokenization platform Ondo Finance
mentioned it agreed to purchase Oasis Pro, a regulated brokerage platform, laying the groundwork for rolling out tokenized shares within the coming months.
The acquisition, whose worth was not disclosed, would give Ondo a bundle of U.S. securities licenses: a broker-dealer, Alternative Trading System (ATS) and switch agent regulated by the U.S. Securities and Exchange Commission, an organization assertion mentioned.
Tokenization corporations have more and more sought regulated entities to enter the U.S. market as curiosity in blockchain-based securities soars. Tokenization goals to convey conventional monetary devices comparable to bonds, shares and funds on-chain, promising quicker and 24/7 settlements, broader investor entry and programmable transactions. Reports from Ripple, BCG, McKinsey, and Standard Chartered have projected that tokenized property may scale into the trillions of {dollars} over the subsequent decade.
This yr, U.Okay.-based Archax acquired FINRA-regulated broker-dealer Globacap Private Markets to develop into the U.S. and Prometheum additionally introduced a broker-dealer acquisition and switch agent launch.
“This acquisition combines our brokerage platform and licenses with Ondo’s existing institutional-grade infrastructure and products, a comprehensive foundation for a regulated tokenized securities ecosystem,” mentioned Oasis Pro CEO Pat LaVecchia, who is about to be a part of Ondo when the acquisition closes.
Oasis Pro, based in 2019 by, was one of many first U.S. corporations licensed to settle digital securities in each fiat and stablecoins like USDC and DAI. It additionally contributed to shaping regulatory coverage by FINRA’s Crypto Working Group.
Ondo, which already manages over $1.4 billion in tokenized property, mentioned it plans to roll out tokenized shares for non-U.S. traders through its Global Markets platform within the coming months. Exchanges together with Robinhood, Gemini, Kraken, and Bybit have launched related choices not too long ago.
The deal is pending regulatory approval.
Read extra: Ondo, Pantera Capital to Invest $250M in Real-World Asset Projects