Ondo Finance requests SEC to delay or reject Nasdaq’s proposal for trading tokenized securities due to lack of transparency and potential unfair advantages to established players. Ondo expresses concerns over the lack of public details on how DTC will handle blockchain settlements in Nasdaq’s proposal.

Nasdaq seeks SEC approval to trade tokenized securities, allowing digital versions of traditional stocks recorded on a blockchain to trade alongside traditional ones. The proposal initiates a 45-day review period by the SEC, potentially extending into late December.

Various platforms like Robinhood, eToro, and Kraken are embracing tokenization of US equities, with plans to list tokenized stocks on blockchain platforms. Galaxy Digital warns that this trend could challenge the liquidity of traditional markets and threaten the dominance of the New York Stock Exchange.

Read more at Cointelegraph: Ondo Urges SEC to Delay Nasdaq’s Tokenized Stock Plan