Ondo completes acquisition of US-regulated broker Oasis Pro

Ondo Finance said Monday it has completed its acquisition of Oasis Pro as the firm aims to grow its tokenized securities business.

"We now have the most comprehensive suite of licenses and infrastructure necessary to develop compliant and regulated tokenized securities markets in the U.S.," the company's founder and CEO Nathan Allman said in a statement .

The company first announced plans to acquire the licensed broker-dealer, which is licensed by the U.S. Securities and Exchange Commission, in July . Although many companies from both worlds of crypto and traditional finance have shown interest in offering tokenized securities to U.S. investors, regulators have yet to determine exactly how trading equities online will function for Americans.

Last month, Ondo said it had launched 24/7 onchain access to more than 100 U.S. stocks and ETFs, starting with Ethereum, available to users in Asia, Europe, Africa, and Latin American investors.

Oasis Pro operates an SEC-registered broker-dealer, known as an Alternative Trading System (ATS), and a Transfer Agent (TA). Founded in 2019, the U.S. firm became one of the first to secure approval to list and settle digital securities in either fiat or stablecoins such as Circle's USDC and Sky's DAI.

The firm’s licenses should bolster and expand Ondo’s abilities to offer tokenized equity trading. Ondo currently manages more than $1.6 billion in assets, according to its statement, and offers non-U.S. investors products such as tokenized Treasurys (OUSG) and yield-bearing USDY tokens.

Other platforms like Robinhood , Kraken,  Gemini , and Coinbase are all interested in growing their tokenized equities business. A joint report from Ripple and Boston Consulting Group projects that the tokenized asset market could exceed $18 trillion by 2033.

Recently, Nasdaq filed a rule change with the SEC, saying tokenized shares would have to carry the same rights and privileges as the underlying security to qualify for unified trading and execution priority under the plan.