Ondo Global Markets is a pioneering tokenized equity platform with genuine SEC registration and the deepest institutional backing in the space (Franklin Templeton ETF partnership announced March 2026). Ondo's October 2025 acquisition of Oasis Pro Markets brings custody in-house, eliminating external broker-dealer counterparty risk while concentrating regulatory risk within a single integrated entity. The key investor caveat: tokens are loan notes issued by a BVI entity, not direct equity ownership — holders have no legal shareholder rights, and 'proxy voting' launched in April 2026 via Broadridge reflects preferences with no binding obligation. Suitable for non-US investors seeking blockchain access to US equities, but the integrated issuer-custodian structure, loan note legal form, and after-hours price disconnect warrant careful position sizing.
Risk Breakdown
Top Risks
Tokenized equities depend on off-chain broker-dealer custody via Ondo's in-house SEC-registered subsidiary (formerly Oasis Pro Markets, acquired Oct 2025) — regulatory enforcement against Ondo's integrated entity or SEC reporting failure could freeze all token redemptions
After-hours token trading on secondary markets creates price disconnects from underlying equities, with arbitrage only possible when US markets reopen
Tokens represent loan notes issued by a BVI entity, not direct equity ownership — holders have no legal shareholder rights and 'proxy voting' reflects preferences to the issuer with no binding obligation
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