Ondo Expands Voting Access for Tokenized Stocks via Broadridge Partnership
Ondo Finance has teamed up with Broadridge Financial Solutions to introduce voting tools for holders of tokenized stocks and ETFs.
Summary
- Ondo holders can express voting preferences on over 250 tokenized stocks and ETFs.
- Broadridge will supply governance documents, filings, prospectuses, and communications to token holders.
- Ondo also seeks clarity from the SEC on recording securities interests as Ethereum-based tokens.
The integration enables holders of more than 250 Ondo tokenized assets to cast their voting preferences for the underlying securities.
Broadridge will facilitate access to investor communications, prospectuses, regulatory filings, and other governance resources.
The company processes over $15 trillion in securities daily and services more than 10,000 public companies.
Voting preferences will correspond to token ownership
According to Ondo, voting recommendations will be proportional to each holder’s token ownership.
With consent from Ondo Global Markets, Broadridge may combine tokenholder voting preferences with those from traditional market investors.
This partnership coincides with Ondo’s request to the U.S. SEC to support its framework for recording securities interests as Ethereum tokens.
Ondo asserts that the tokens serve as an operational layer on top of existing broker-dealer custody, without altering investor protections.
“This initiative aims to expand the understanding of holding a tokenized stock,” remarked Matthieu de Vergnes, global head of institutional at Ondo Finance.
“Today’s announcement marks a significant milestone in the advancement of tokenized equities and ETFs,” stated Doug DeSchutter, president of investor communication solutions at Broadridge.