Broadridge will provide voting rights for tokenized equity holders.
Operating within U.S. regulatory guardrails, Ondo Finance has launched a tokenized version of the BlackRock iShares Core S&P 500 (IVV) exchange-traded fund (ETF) and Micron (MU) stock in partnership with Broadridge Financial Solutions, which will provide voting rights for tokenized equity holders, officials say.
“Ondo Finance is a blockchain-based technology company focused on tokenizing real-world assets and bringing institutional-quality financial products onchain,” officials say.
“For the first time, U.S.-listed securities … will be tokenized by a third party on a public blockchain,” officials say. “Broadridge will enable holders of the tokenized securities to participate in proxy voting and receive regulatory disclosures, seamlessly providing token holders with the same protections and rights as holders of traditional securities.”
Officials add that investors in securities “tokenized by Ondo will have a common voting and shareholder communications platform and experience for synthetic and custodial tokenized securities leveraging Broadridge’s ProxyVote.com platform.”
“Tokenized Securities in the U.S. are too often framed as a binary choice between competing models and tokenization providers. This is a false premise. Ondo has built the regulatory, product, and service infrastructure to support all major models within the United States,” says Ian De Bode, CEO of Ondo Finance, in a prepared statement.
Broadridge offers support for all models of tokenized securities such as issuer-listed models, synthetic tokenized securities issued outside the United States, and third-party tokenized shares within the U.S, officials say.
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