Ondo Finance submits a no-action request to the SEC to promote on-chain operation of the OGM product chain

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ME News message. On April 13 (UTC+8), according to Ondo Finance’s official blog, Ondo Finance recently submitted a request for no action to the U.S. Securities and Exchange Commission (SEC). The request is intended to confirm that the SEC will not take enforcement action against its model for tokenized management of certain securities interests on the Ethereum mainnet. This request primarily relates to its Ondo Global Markets (OGM) product. OGM is a tokenized note product that provides non-U.S. investors with exposure to U.S. stocks and ETFs. Under this model, the underlying securities remain protected by existing legal, custody, and record-keeping frameworks; the official books and records remain unchanged; and only in limited circumstances are securities interests mapped to the Ethereum mainnet in tokenized form, with custody provided by BitGo, to support the related record-keeping and operational processes. (Source: MLion)

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