Ondo Finance, a blockchain company with $1.4 billion in assets under management, has announced its acquisition of Oasis Pro Markets, gaining access to comprehensive US regulatory licenses for tokenization activities. The deal provides Ondo with an SEC-registered broker-dealer, Alternative Trading System (ATS), and Transfer Agent registration.
The company had previously sidestepped the need for this regulatory oversight by targeting offshore investors with its USDY yield token which gives exposure to short term Treasuries. Its other offering is the onshore OUSG token backed by tokenized money market funds. However, it has only been available to accredited investors through a Regulation D Rule 506(c) exemption. Oasis Pro, founded in 2019, operates as a FINRA member firm and was among the first US-regulated ATSs authorized to support digital securities settlement using both fiat and stablecoins.
“This unlocks the next major chapter of tokenized finance,” said Nathan Allman, CEO of Ondo Finance. “This acquisition will empower us to realize our vision of building a robust and accessible tokenized financial system, backed by the strongest regulatory foundations. We’re pleased to welcome Pat LaVecchia, CEO of Oasis Pro, to our team.” While there are plenty of startups with broker-dealer authorizations or ATS licenses, few have all three in the digital securities sector. Two that spring to mind are Securitize – the issuer of BlackRock’s BUIDL on-chain money market fund – and Figure Technologies.
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