Ondo Finance filed a no-action request with the SEC to push for the on-chain operation of its OGM products.

According to ME News, on April 13 (UTC+8), Ondo Finance recently submitted a no-action request to the U.S. Securities and Exchange Commission (SEC). The request seeks confirmation that the SEC will not take enforcement action against its model for managing specific securities interests through tokenization on the Ethereum mainnet. This request primarily concerns its Ondo Global Markets (OGM) product, which provides non-U.S. investors with tokenized notes offering exposure to U.S. stocks and ETFs. Under this model, the underlying securities remain protected by existing legal, custody, and record-keeping frameworks; the official ledger and records remain unchanged. Only in limited circumstances are securities interests mapped to the Ethereum mainnet in tokenized form, custodied by BitGo to support related record-keeping and operational processes. (Source: ME)