Ondo Gains EU Green Light for Tokenized Stocks and ETFs

Ondo Finance now has full regulatory approval to offer tokenized stocks and ETFs to retail investors across the European Union and the broader European Economic Area. 

The approval comes from Liechtenstein’s Financial Market Authority, a regulator whose passporting rules extend to all 30 EEA countries. This means that investors can soon access U.S. equities and ETFs directly onchain in a regulated and compliant way. 

What Ondo’s Approval Allows

Ondo Global Markets can now offer tokenized versions of U.S. stocks and ETFs to more than 500 million retail investors across Europe. The framework is unified across the EEA, covering the EU, Iceland, Norway, and Liechtenstein. It uses existing investor-protection rules and fits within Europe’s standards for financial supervision.

This approval also strengthens Ondo’s position in tokenized finance. The platform is already the largest provider of tokenized stocks and ETFs, with more than $315 million in total value locked and over $1 billion in trading volume since launch. Now, its market reach expands from crypto users to Europe’s entire retail investing public.

Why Liechtenstein’s Approval Matters

Liechtenstein’s regulator is known for its clear rules and its ability to passport financial services across the EEA. A license granted there becomes valid in all other EEA countries, which is one of the reasons Ondo chose this route.

This structure allows Ondo to:

• Provide tokenized stocks and ETFs under a single regulatory framework
• Offer these products across all EU nations
• Maintain standard investor protections across borders
• Operate onchain without falling outside existing financial rules

By securing this approval, Ondo meets Europe’s requirements for handling regulated financial instruments while using blockchain rails for settlement and record-keeping.

Ondo’s Expansion in Context

In early October, Ondo Finance completed its acquisition of Oasis Pro, a U.S. broker-dealer, Alternative Trading System (ATS), and Transfer Agent. This gave Ondo a fully regulated foothold in the United States. Now, the firm holds approvals on both sides of the Atlantic.

The combination gives Ondo the ability to issue, trade, and manage tokenized securities in both the U.S. and Europe. It also expands its role in real-world asset (RWA) tokenization and strengthens its control over the entire lifecycle of tokenized financial products.

Ondo’s U.S. Expansion Through Oasis Pro

To understand the full picture of Ondo’s strategy, it’s important to look at what the Oasis Pro acquisition brought. Oasis Pro began operating in 2019 and already held several regulated roles in the U.S. financial system.

Ondo now owns:

• An SEC-registered broker-dealer
• An Alternative Trading System
• A Transfer Agent license

This allows Ondo to operate within the U.S. securities framework rather than outside it. These licenses also enable Ondo to offer regulated secondary trading for a wide set of assets, including equities, corporate debt, structured products, asset-backed securities, mortgage-backed securities, and closed-end mutual funds.

What Tokenized Stocks and ETFs Mean for European Investors

Before this approval, Europe’s retail investors had limited access to U.S. markets onchain. Most tokenized products were restricted to qualified investors or offered through unregulated channels. Ondo’s approval changes that.

More than 500 million investors across 30 markets will gain access to tokenized U.S. stocks and ETFs through a regulated platform.

Tokenized assets remain backed by the underlying securities, but they settle and move using blockchain infrastructure. This gives investors a familiar product in a new format, with features such as:

• Faster settlement
• Programmable transfer rules
• Transparent onchain ownership
• Around-the-clock trading

Key Benefits for Investors

• Regulated access to U.S. markets
• Unified framework across all EEA countries
• Clear investor protections under European rules
• Onchain settlement using stablecoins or other digital assets
• Lower barriers for cross-border participation

Ondo’s expansion does not change the nature of the underlying assets—only the method of access and settlement.

PancakeSwap Partnership and Fee-Free Trading Window

In late October, PancakeSwap added support for more than 100 tokenized real-world assets from Ondo Finance on BNB Chain. These include U.S. stocks, bonds, and ETFs. Users can trade them directly on the decentralized exchange.

Zero trading fees for 30 days

PancakeSwap waived all trading fees on these products from:

• October 29, 2025 at 13:00 UTC
• to November 29, 2025 at 13:00 UTC

The fee-free period applied to assets including:

• AAPLon (Apple)
• AMZNon (Amazon)
• TSLAon (Tesla)
• Tokenized U.S. Treasury products
• Tokenized ETFs

This partnership extends Ondo’s reach beyond regulated markets and brings its tokenized products to onchain retail traders who prefer decentralized exchanges.

Conclusion

Ondo Finance’s approval from Liechtenstein’s regulator gives the firm the ability to offer tokenized U.S. stocks and ETFs across all 30 EEA countries. This extends onchain access to more than 500 million investors while meeting EU and EEA regulatory standards. 

Combined with its U.S. broker-dealer, ATS, and Transfer Agent licenses from the Oasis Pro acquisition, Ondo now operates a regulated, full-stack platform for tokenized securities on both sides of the Atlantic. The firm’s presence in decentralized markets through PancakeSwap further broadens its reach. Together, these capabilities place Ondo in a strong position within the expanding landscape of regulated tokenized finance.

Resources:

1. Ondo Finance X platform: https://x.com/OndoFinance

2. Announcement - Ondo Secures EU Regulatory Approval for Tokenized Stocks and ETFs: https://ondo.finance/blog/ondo-eu-regulatory-approval

3. Announcement - Ondo Finance Completes Acquisition of Oasis Pro to Accelerate U.S. Tokenized Securities Innovation: https://ondo.finance/blog/ondo-acquires-oasis-pro

4. Announcement - PancakeSwap Brings Ondo Finance’s 100+ Tokenized Real-World assets (RWAs) Onchain to BNB Chain: https://blog.pancakeswap.finance/articles/tokenized-rwas