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 report, April 13 (UTC+8), according to Ondo Finance’s official blog, Ondo Finance has recently submitted a request for no-action to the U.S. Securities and Exchange Commission (SEC). This request is intended to confirm that the SEC will not take enforcement action regarding its model for tokenized management of specific securities interests on the Ethereum mainnet.

The request mainly involves 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 are still protected by the existing legal, custody, and record-keeping frameworks. The official ledgers and records remain unchanged, and only in limited circumstances are securities interests mapped to the Ethereum mainnet in tokenized form, custodized by BitGo, to support the relevant record-keeping and operational processes. (Source: MLion)

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