Oasis Pro Markets offers a direct link between tokenized funds and traditional fund distributors via DTCC.
Fund processing system Fund/SERV has its first tokenization platform member — Oasis Pro Markets — an Ondo Finance subsidiary, broker-dealer, and distributor of tokenized investment products. The move establishes a direct connection between tokenized funds and traditional fund distributors via DTCC, officials say.
Fund/SERV, part of the Depository Trust & Clearing Corp. (DTCC), is a centralized transaction processing platform that supports the entry, confirmation, and settlement of mutual funds, bank collective funds, and other pooled investment product transactions. The system serves more than 85 percent of U.S. mutual fund activity, according to officials.
“This paves the way for Ondo tokenized funds to be distributed across the traditional fund ecosystem, furthering DTCC’s strategy to support tokenized assets and facilitate interoperability across the traditional and digital finance ecosystems,” according to the announcement. “Rather than building bespoke integrations fund by fund, Oasis Pro Markets can now transact with fund companies, wealth platforms, and service providers.”
Through Fund/SERV, Oasis Pro Markets can offer interoperability for account-level data, transaction confirmations, reconciliation, fund distributions, tax reporting, and regulatory reporting, officials say. This step is intended to help tokenized funds to scale to mainstream adoption.
“As financial markets continue to evolve, interoperability between traditional infrastructure and digital asset ecosystems will be critical to achieving scale and broad market adoption,” says Talia Klein, managing director and head of Wealth & Investment Solutions, DTCC, in a prepared statement.
Oasis Pro Markets is an SEC-registered broker-dealer and a registered alternative trading system (ATS), and a member of FINRA/SIPC.
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