Ondo Finance files a request for a no-action decision with the SEC to advance the on-chain operation of the OGM product chain operation

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Deep Tide TechFlow message, April 13, according to Ondo Finance’s official blog, Ondo Finance has recently submitted a request for no action to the U.S. Securities and Exchange Commission (SEC), seeking the SEC’s confirmation that it will not take enforcement action against its model for recording and managing certain securities interests in tokenized form on the Ethereum mainnet.

The request relates to its Ondo Global Markets (OGM) product. OGM is currently a tokenized note product offering exposure to U.S. stocks and ETFs to non-U.S. investors. Under this model, the underlying securities remain within the existing legal, custody, and record-keeping frameworks; the official ledgers and records remain unchanged, and only in limited circumstances are the related securities interests mapped to the Ethereum mainnet in tokenized form, held by the custodian BitGo, to support record-keeping and operational processes.

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