Ondo Finance now runs the first custodial tokenized U.S. securities model live inside the SEC regulatory perimeter. The launch went live on July 2, 2026, starting with two assets. Holders can access tokenized BlackRock iShares Core S&P 500 ETF (IVV) and Micron Technology stock (MU) on Ethereum. Both tokens carry one to one backing from shares held in traditional U.S. custody. Notably, these are not synthetic wrappers, and holders receive real entitlements to the underlying securities. As a result, Ondo is pushing past the legal gray zones of earlier tokenized stock experiments.
As America turns 250, U.S. securities have come onchain on U.S. rails.
— Ondo Finance (@OndoFinance) July 2, 2026
Today, Ondo Finance announced the first-ever live solution of third-party tokenized U.S. securities operating entirely within the existing regulatory perimeter in the U.S., in partnership with @Broadridge… pic.twitter.com/auHGrXFtrv
How the Custodial Model Works
The mechanics matter here, and Ondo built them to satisfy U.S. regulators, not skirt them. Underlying IVV and Micron shares remain inside the traditional U.S. custody chain. Meanwhile, an Ondo subsidiary called Oasis Pro TA, LLC issues the on-chain tokens. Oasis Pro TA is an SEC-registered transfer agent, and it acts as the compliance backbone for each issuance. In practice, this structure keeps the securities inside DTC-linked custody while creating freely trackable onchain entitlements. Additionally, three regulated roles enforce transfer restrictions: the broker-dealer, the transfer agent, and the custodian. Therefore, every token trade sits inside a chain of accountability that mirrors traditional equities.
Broadridge Brings Onchain Governance to the Table
Broadridge Financial Solutions is the second half of the story, and its role goes beyond a symbolic partnership. The firm processes proxy voting and shareholder communications for most U.S. public companies. Through this launch, holders of Ondo tokens gain access to those same rights via Broadridge’s ProxyVote.com platform. As a result, token holders can vote on corporate actions and receive regulatory disclosures directly from issuers. Doug DeSchutter, President of Broadridge’s Investor Communication Solutions, said tokenization only scales when innovation meets investor confidence. Importantly, this closes a governance gap that has plagued earlier tokenized stock products. In short, Broadridge translates traditional shareholder rights into an onchain workflow.
Why This Model Answers the Regulatory Question
Recent months have made the risks of poorly structured tokenized equities very clear. In July 2026, OpenAI publicly disputed Robinhood’s tokenized shares of its equity, calling them unauthorized. That episode showed the gap between marketing an “equity token” and delivering actual ownership rights. In contrast, Ondo built its model around SEC-registered entities and existing custody law. Ian De Bode, CEO of Ondo Finance, said the launch proves tokenization can meet both market and regulatory requirements. Additionally, the design keeps voting, dividends, and disclosures fully aligned with the underlying share. Consequently, regulators can review the structure using the same lens they use for a traditional brokerage account.
Ondo’s Broader Tokenization Stack
The July launch fits into a much larger Ondo footprint that has grown quickly. Ondo Global Markets already holds more than $1 billion in tokenized securities outside the United States. That figure covers over 430 tokenized stocks and ETFs available to eligible non-U.S. users. Meanwhile, Ondo commands roughly 70 percent of the tokenized equity market share globally. Last year, the company acquired Oasis Pro to secure SEC-registered broker-dealer, ATS, and transfer agent licenses. In turn, those licenses gave Ondo the legal machinery required for this custodial U.S. product. Furthermore, the SEC closed a prior investigation into Ondo without charges, clearing the regulatory air heading into 2026.
What Comes Next for U.S. Investors
The custodial tokens are live, but U.S. retail access has not opened yet. Ondo confirmed that broader distribution will follow further regulatory alignment and infrastructure integrations. However, the framework itself is now operating inside the U.S. perimeter, which is the harder milestone. Citi projects tokenized securities could reach $5.5 trillion in value by 2030. For that projection to hold, the market needs models that satisfy both crypto users and traditional regulators. Ondo’s IVV and Micron tokens deliver an early version of that answer. In turn, the next question is which issuers, custodians, and asset classes join the platform after this pilot phase.
*Disclaimer: News content provided by Genfinity is intended solely for informational purposes. While we strive to deliver accurate and up-to-date information, we do not offer financial or legal advice of any kind. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial or legal decisions. Genfinity disclaims any responsibility for actions taken based on the information presented in our articles. Our commitment is to share knowledge, foster discussion, and contribute to a better understanding of the topics covered in our articles. We advise our readers to exercise caution and diligence when seeking information or making decisions based on the content we provide.
