Ondo Finance, a blockchain firm managing $1.4 billion in assets, has acquired Oasis Pro Markets to secure key US regulatory approvals for tokenization. The transaction grants Ondo an SEC-registered broker-dealer license, Alternative Trading System (ATS) status, and Transfer Agent registration.
The company had earlier avoided the requirement for regulatory supervision by focusing on offshore investors with its USDY yield token, which provides access to short-term Treasuries. Additionally, it offers the onshore OUSG token, which is supported by tokenized money market funds. However, this token has only been accessible to accredited investors under a Regulation D Rule 506(c) exemption.
Founded in 2019, Oasis Pro is a FINRA member firm and was one of the first US-regulated Alternative Trading Systems (ATSs) permitted to facilitate the settlement of digital securities using both fiat currency and stablecoins.
“This marks the beginning of a significant new phase in tokenized finance,” stated Nathan Allman, CEO of Ondo Finance. “This acquisition will enable us to achieve our goal of creating a strong and accessible tokenized financial system, supported by solid regulatory frameworks. We are excited to have Pat LaVecchia, CEO of Oasis Pro, join our team.”
Few digital securities firms hold all three licenses—broker-dealer, ATS, and Transfer Agent. Notable exceptions include Securitize (issuer of BlackRock’s BUIDL fund) and Figure Technologies.
