Ondo Finance has launched a compliant US third-party securities tokenisation model for IVV and Micron shares, with Broadridge providing voting and disclosure rights for token holders.
Ondo Finance Launches First Compliant Third-Party Securities Tokenisation Solution in the US
Ondo Finance announced on Thursday, 2 July 2026, that it had launched what it described as the first real-time solution for tokenised third-party US securities operating fully within the existing US regulatory framework. The company has also partnered with Broadridge Financial Solutions (New York Stock Exchange ticker: BR) to provide token holders with full voting rights.
This milestone involves the tokenisation of BlackRock’sETFproduct, iShares Core S&P 500 (ticker: IVV), and shares of Micron Technology (ticker: MU) on the Ethereum blockchain. It marks the first production-environment implementation in the United States of the custodial tokenisation model outlined by theSECon 28 January 2026.
(Source: PRNewswire, Ondo Finance official press release, published: 2 July 2026.)
Tokenisation Structure and Technical Arrangements
Custody of Underlying Shares and Token Minting
Under this structure, the underlying securities, including the BlackRock iShares Core S&P 500 ETF and Micron Technology shares, remain within the traditional regulated US custody chain and continue to be held by regulated custodians. Ondo’s registered transfer agent, Oasis Pro TA, mints tokens on the Ethereum blockchain that correspond 1:1 with these shares. Transfer restrictions continue to be enforced by participating broker-dealers, transfer agents and custodians in accordance with existing regulatory requirements.
Oasis Pro TA is an SEC-registered transfer agent obtained by Ondo through its acquisition of Oasis Pro in 2025. The transaction was completed in October 2025 and also brought Ondo SEC-registered broker-dealer and alternative trading system qualifications.
Shareholder Rights and Broadridge’s Role
Broadridge will enable token holders to participate in proxy voting and receive regulatory disclosure information through its ProxyVote.com platform, thereby giving them the same rights and protections as shareholders who hold securities through traditional US brokerage accounts. These include:
Receiving issuer shareholder communications;
Accessing regulatory disclosure documents;
Participating in proxy voting through on-chain identity verification.
(Sources: CoinDesk, report dated 1 July 2026; Ondo Finance official press release.)
Comparison of Two Third-Party Tokenisation Models
In its January 2026 statement, the SEC divided third-party tokenised securities into two main models, which differ fundamentally in terms of rights ownership:
| Model | Definition | Token holder rights | Typical examples |
|---|---|---|---|
| Custodial tokenisation | A third party holds the underlying securities and issues crypto assets representing the holder’s interest | Entitled to the same ownership interest as the underlying securities | The IVV and MU tokens launched by Ondo |
| Synthetic tokenisation | A third party issues an instrument that provides synthetic exposure without transferring ownership of the underlying securities | Not necessarily entitled to issuer interests or rights | Security-linked tokens and security-based swap-style tokens |
Industry Background and Statements From the Parties
Previously, tokenised securities mostly operated outside the United States or required issuers to provide support on a case-by-case basis. The new structure brings tokenisation within the US regulatory perimeter while preserving the safeguards and market infrastructure that support US capital markets.
"Today’s milestone shows that we can tokenise securities in a way that meets both market and regulatory requirements, thereby serving US and global investors and laying a solid foundation for expanding our access to on-chain investing for more US investors."
Doug Deschutter, president of Broadridge’s investor communication solutions business, stated, and noted that proxy voting and regulatory disclosure are the key mechanisms for giving token holders equivalent status to traditional shareholders.
According to disclosures, Ondo’s Global Markets platform currently supports more than US$1 billion in tokenised securities business outside the United States, covering over 430 stocks and ETFs. This marks the company’s first expansion of the business into the US domestic market.
(Sources: Bitcoin.com News, July 2026 report; Ondo Finance official press release.)
Questions Related to Ondo Securities Tokenisation
Which underlying assets are included in this tokenised securities launch?
This launch covers tokenised versions of BlackRock’s iShares Core S&P 500 ETF (IVV) and Micron Technology (MU) shares, both issued on the Ethereum blockchain.
How do token holders’ shareholder rights differ from those of traditional shareholders?
Through Broadridge’s ProxyVote.com platform, token holders can participate in proxy voting and receive issuer shareholder communications and regulatory disclosure information, giving them the same rights and protections as shareholders who hold securities through traditional US brokerage accounts.
Who holds custody of the underlying shares?
The underlying shares remain within the traditional regulated US custody chain and are held by regulated custodians. Ondo’s registered transfer agent, Oasis Pro TA, is responsible for minting tokens that correspond 1:1 with the underlying shares.
What is the difference between custodial tokenisation and synthetic tokenisation?
Under custodial tokenisation, a third party actually holds the underlying securities, and the tokens represent the holder’s ownership interest in those securities. Under synthetic tokenisation, the instrument issued by a third party only provides economic exposure and does not transfer ownership of the underlying securities, so holders may not necessarily enjoy issuer interests or related rights.
