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Ondo Finance has announced what it describes as the first live solution of third-party tokenised US securities operating entirely within the existing regulatory perimeter in the United States, in partnership with Broadridge Financial Solutions Inc. (NYSE: BR), which will provide full voting rights for tokenised equity holders.
The launch follows a January 2026 statement from the Securities and Exchange Commission on tokenised securities, in which the regulator described a custodial model whereby a third party holds an issuer's securities and issues crypto assets representing a holder's entitlement to the underlying security. Ondo's launch of tokenised BlackRock iShares Core S&P 500 (IVV) ETF and Micron (MU) stock are the first production deployments of that model in the US.
Under the model, which closely follows the SEC's third-party custodial approach, the underlying shares remain within the traditional US regulated custody chain. Ondo's registered transfer agent mints corresponding tokens, backed 1:1 by those shares, which are issued on the Ethereum blockchain and held by regulated custodians. Each token holder will receive the same shareholder rights and protections as shareholders holding through US brokerage accounts, including issuer communications and onchain proxy voting through Broadridge's ProxyVote.com platform. Transfer restrictions are enforced by the participating broker-dealer, transfer agent and custodian in accordance with existing regulatory requirements and practices.
Ian De Bode, CEO, Ondo Finance
Ian De Bode, CEO, Ondo Finance said:
"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. Today's milestone shows we can tokenize securities in ways that meet both market and regulatory requirements, for U.S. and global investors and provides a strong foundation for our expanding access to onchain investments for more U.S. investors,"
The announcement marks a step forward for tokenised securities in the United States. Until now, tokenised securities have largely operated outside the US or have required issuer sponsorship on an issuer-by-issuer basis. This model brings them inside the US regulatory perimeter, with the underlying securities held in the same infrastructure that custodies US securities today.
Doug DeSchutter, President, Broadridge's Investor Communication Solutions
Doug DeSchutter, President, Broadridge's Investor Communication Solutions said:
"Tokenization will only scale when it delivers both innovation and investor confidence,"
"By enabling proxy voting, issuer communications, and regulatory disclosures for Ondo's token holders, we're living up to our promise to empower investors and issuers by providing them with the full range of trusted governance capabilities for tokenized securities regardless of how assets are structured."
The launch forms part of Broadridge's strategy to enable the adoption of tokenised securities by ensuring they are supported by governance capabilities designed to meet standards of auditability, accountability and investor protection, and to comply with US regulatory guidelines. Broadridge supports all models of tokenised securities, including issuer-listed models, synthetic tokenised securities issued outside the United States, and now, third-party tokenised shares within the US, by ensuring that investors receive the communications required to exercise their voting rights and stay informed about their investments.
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