Ondo Finance Calls for Nasdaq’s Tokenized Securities Plan Delay

Blockchain company Ondo Finance has urged the US Securities and Exchange Commission (SEC) to postpone or reject Nasdaq’s proposal to trade tokenized securities, arguing that it lacks transparency and unfairly advantages established market players. The request follows a Wednesday letter from Ondo urging regulators and investors to be unable to evaluate Nasdaq’s plan without access to key details about how the Depository Trust Company (DTC) will handle blockchain settlements. The DTC acts as the main depository for US securities, facilitating post-trade settlement, but information on its handling of blockchain transactions remains unclear in Nasdaq’s proposal.