DecryptJul 02, 06:06 PM
Standard Chartered Offers Institutions Direct Access to USDC
Standard Chartered has become the first Global Systemically Important Bank authorized to offer institutions direct access to mint and redeem Circle’s USDC.
ReadCoinDeskJul 02, 06:05 PM2 min
Ondo Launches U.S.-Framework Tokenized BlackRock ETF and Micron Shares
Ondo Finance has launched Ethereum-based versions of BlackRock’s IVV ETF and Micron shares using a custodial structure outlined by SEC staff. The products retain regulated custody and shareholder rights but are not yet available to U.S. investors.
What happened?
Ondo Finance has launched Ethereum-based versions of BlackRock’s IVV ETF and Micron shares using a custodial structure outlined by SEC staff. The products retain regulated custody and shareholder rights but are not yet available to U.S. investors.
Why it matters
The launch is significant because it demonstrates how blockchain-based securities could operate through existing U.S. custody and market infrastructure. However, the SEC staff statement underpinning the model is not formal guidance approved by the agency’s commissioners, and the products are not yet available to U.S. investors.
Ondo Finance has launched tokenized versions of BlackRock’s iShares Core S&P 500 ETF (IVV) and Micron Technology shares on Ethereum. The structure follows a third-party custodial model described by U.S. Securities and Exchange Commission staff for tokenized securities.
The launch is significant because it demonstrates how blockchain-based securities could operate through existing U.S. custody and market infrastructure. However, the SEC staff statement underpinning the model is not formal guidance approved by the agency’s commissioners, and the products are not yet available to U.S. investors.
Under Ondo’s model, the underlying IVV and Micron securities remain in the traditional regulated custody system. Oasis Pro TA, an SEC-registered transfer agent acquired by Ondo, issues tokenized entitlements on Ethereum that are backed one-for-one by the conventional securities.
Broadridge will provide proxy voting, regulatory disclosures and shareholder communications. This gives token holders governance rights comparable to those received by investors holding the securities through standard brokerage accounts, while existing intermediaries enforce transfer restrictions.
Ondo says this is the first production deployment of the SEC staff’s third-party custodial model. The company already operates a large tokenized securities platform outside the United States, reporting more than $1 billion across over 430 tokenized stocks and ETFs.
