The line separating traditional finance from digital assets just blurred. A US platform secured regulatory approval to offer tokenized American stocks directly to hundreds of millions of European retail investors.
Ondo Global Markets got the go-ahead from Liechtenstein’s Financial Market Authority on Tuesday, and it was given access to all 30 countries in the European Economic Area. The approval covers tokenized stocks and ETFs, which means access open for over 500 million potential investors across the EU, Iceland, Norway, and Liechtenstein.
Strategic Regulatory Move
Liechtenstein’s passporting system proved crucial to Ondo’s strategy. The principality already implemented the EU’s Markets in Crypto-Assets framework through domestic legislation, putting it ahead of many larger member states. Licenses issued by Liechtenstein automatically extend throughout the entire EEA, removing the need for separate approvals in each jurisdiction.
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The development follows Ondo’s recent partnership with Boerse Stuttgart Group’s BX Digital subsidiary, which launched tokenized stock trading in Switzerland earlier this month. Ondo has tokenized over 100 American equities and ETFs on BNB Chain.
European regulators are debating whether to centralize crypto oversight under the European Securities and Markets Authority, which could reshape how firms navigate cross-border operations after the MiCA transitional period ends December 31.
