Ondo Finance requests SEC no-action letter to record tokenized securities on Ethereum

Ondo Finance submitted a formal no-action letter request asking the SEC to confirm it won't pursue enforcement if Ondo Global Markets records securities entitlements in tokenized form on Ethereum mainnet, while keeping underlying assets and legal custody within traditional frameworks. OGM, which offers tokenized US stocks and ETFs to non-US investors, has processed over $13B in trading volume since its September 2025 launch and holds $700M+ in TVL. If granted, the relief would establish a regulatory precedent for using public blockchains as a securities recordkeeping layer without altering existing investor protections.

TLDR by @Benthic

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