Ondo Questions Nasdaq’s Tokenized Stock Plan, Argues for Transparency in Blockchain Settlements

Blockchain firm Ondo Finance has requested the U.S. Securities and Exchange Commission (SEC) to postpone or reject Nasdaq’s proposal to trade tokenized securities. Ondo claims that the exchange hasn’t provided enough detail about its post-trade system, arguing that this lack of transparency could give established market players an unfair advantage. The firm emphasized the need for public information regarding how the Depository Trust Company (DTC) will manage blockchain-based settlements, a critical role in clearing and settlement. Ondo claims Nasdaq’s reliance on non-public information undermines fair access and open collaboration.