Ondo adds voting to 250 tokenised assets

• Ondo Finance will introduce shareholder voting rights for more than 250 tokenised stocks and ETFs through a partnership with Broadridge.
• The update gives tokenised security holders access to proxy voting and shareholder communications available to traditional investors.
• Ondo said the governance features will support the launch of its US custodial tokenised securities under the SEC's third-party custodial framework.

Ondo Finance, the issuer of Ondo (CRYPTO:ONDO), has partnered with Broadridge to add shareholder voting rights to more than 250 tokenised stocks and exchange-traded funds, expanding governance features for blockchain-based securities.

The partnership addresses a long-standing gap in tokenised equities by allowing investors to vote on corporate matters and receive shareholder communications alongside blockchain-based ownership.

The integration uses a Web3-enabled version of Broadridge's investor communications platform, allowing investors to authenticate with blockchain wallets and access proxy voting, regulatory filings and other shareholder documents.

Ondo said the governance features will accompany the launch of its first US custodial tokenised securities, including tokenised versions of BlackRock's iShares Core S&P 500 ETF and Micron Technology, which the company said are the first issued under the US Securities and Exchange Commission's third-party custodial framework for tokenised securities.

Ondo said the initiative supports its strategy to expand tokenised financial products, and following the announcement the Ondo price was unchanged at the time of writing.

According to Ondo, the tokenised equities market has grown from more than US$1 billion in March to US$1.67 billion with nearly 181,000 unique holders, while Backed Finance has expanded distribution of its xStocks products across multiple blockchain networks and crypto exchanges.

Separate data from 21Shares and Binance indicated the value of tokenised real-world assets, including stocks, has increased by nearly 600% over the past year as institutional adoption and supporting infrastructure continued to develop.

At the time of reporting, Ondo price was $0.3262.