BREAKING: The SEC is set to release its so-called "innovation exemption" for tokenized stocks which will pave the path for trading digital versions of securities, per Bloomberg.
Details include:
1. In a "surprise move," the SEC is leaning toward allowing the trading of tokenized assets
2. These tokenized assets would be tradeable on decentralized crypto platforms
3. The move could "reshape the landscape of the American stock market"
4. This would also be one of the US' biggest shifts into crypto infrastructure yet
Tokenized assets are rapidly expanding.
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The institutional era of tokenization is here.
A new @WSJ article on the convergence of Wall Street and crypto, and what it means for the future of digital assets, quoted Ondo President @iandebode:
“You look around, the largest asset managers in the world, the largest banks in the world, everyone is here. If this is a bear market, I'll take it.”
The announcements this week reflect exactly that shift. Ondo completed the first near real-time cross-border redemption of a tokenized U.S. Treasury fund with Kinexys by @jpmorgan, @Mastercard, & @Ripple.
Ondo was also selected to @The_DTCC's Industry Working Group alongside BlackRock, Goldman Sachs, J.P. Morgan, and more to shape the future of tokenized finance in the U.S.
The convergence of Wall Street and crypto is no longer theoretical. The institutions are here, the infrastructure is being built, and tokenization is at the center of it.
RIPPLE, JP MORGAN, & ONDO TEAM UP TO MAKE HISTORY
@OndoFinance, JP Morgan, @Mastercard and @Ripple joined forces to execute a "landmark pilot transaction connecting the XRP ledger with interbank settlement rails".
The pilot transaction leveraged the infrastructure of all three parties to allow Ripple to redeem Ondo Short-Term US Government Treasuries on $XRP Ledger, but outside of traditional banking windows.
Though small, the experiment is meaningful, clearly demonstrating blockchain's ability to drive efficiency in the global financial system.