Today we submitted our Roadmap for Tokenized Securities to the SEC.
Tokenization is rapidly reshaping global markets, but in the U.S., progress is being slowed by a false debate:
Which single model of tokenization should win out?
Our view: it’s a false choice.
Direct registration, beneficial ownership, and wrapped and linked securities ownership models all coexist in financial markets today, and all have meaningful roles to play onchain.
In our letter, we urge the SEC to allow for all three models by:
1. Supporting both direct and intermediated ownership models
2. Embracing permissioned, permissionless, and hybrid blockchains
3. Providing targeted regulatory clarity for transfer-agent-based tokenization
4. Enabling broader tokenization of securities held in DTC
Our thesis remains simple: all assets are moving onchain and the U.S. is well positioned to lead this shift. Increasing the SEC’s focus on tokenized securities products that link to DTC is a great place to start, that plays to the strengths of the American system as it is.
Empowering investors, including through responsible use of public, permissionless systems, should be a core part of U.S. policy. Giving investors more control over their own assets is exactly what the blockchain is all about, and the SEC should be doing more to support that.
Ondo looks forward to supporting the SEC as it advances this important work.
#ondo $ONDO