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 has 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 specific securities interests on the Ethereum mainnet. This request primarily relates to its Ondo Global Markets (OGM) product, which is a tokenized note offering 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 ledgers and records remain unchanged, except that in limited circumstances, the securities interests are mapped to the Ethereum mainnet in tokenized form and are custodied by BitGo to support the related record-keeping and operational processes. (Source: MLion)

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