Ondo Pushes SEC for Approval on Blockchain-Based Securities Tracking
Key Highlights
Ondo Finance seeks no-action relief from the U.S. Securities and Exchange Commission to use blockchain for tracking securities entitlements.
The proposal uses Ethereum Mainnet to record tokenized representations of equities while keeping traditional custody intact.
The pilot focuses on collateral tracking with built-in compliance controls, testing a hybrid model without changing legal ownership structures.
Ondo Finance has asked the U.S. Securities and Exchange Commission (SEC) to confirm it will not take enforcement action over a plan to use public blockchain infrastructure to track securities entitlements.
According to the official announcement, the request centers on a limited pilot: recording ownership claims to U.S. equities and ETFs, already held through traditional systems, on the Ethereum Mainnet. The proposal does not involve issuing new securities, but rather representing existing positions in tokenized form for operational purposes.
A hybrid model, not a system overhaul
The structure keeps the current market plumbing intact. Underlying securities would continue to be held through the Depository Trust Company (DTC) via broker-dealer Alpaca Securities LLC.
What changes is the recordkeeping layer. Ondo’s transfer agent, Oasis Pro TA, would mint tokens reflecting those holdings. These tokens would sit in a custodial wallet managed by BitGo, while Alpaca’s off-chain books remain the official legal record.
The tokens would mirror “security entitlements,” claims to assets held in custody, rather than the securities themselves.
Focus on collateral tracking, not trading
The proposal applies specifically to collateral backing Ondo’s offshore investment products. These tokenized notes, issued by Ondo Global Markets, are linked to more than 260 U.S. stocks and ETFs and sold to non-U.S. investors.
The blockchain layer would:
Track collateral positions in near real time
Support minting and burning tied to investor flows
Improve reconciliation between custodians and agents
The tokens themselves would not be actively traded and would remain within a controlled environment involving regulated entities.
Compliance controls built into token design
The system includes restrictions typically absent in open blockchain assets. Token transfers would be screened against internal compliance lists and external monitoring tools. Administrative controls would allow:
Freezing or restricting transfers
Seizing and burning tokens
Reversing transactions in defined cases
These features are intended to align with regulatory expectations while using a public, permissionless network.
Regulatory question: Can blockchain support broker records?
At the center of the request is whether a broker-dealer can rely on blockchain infrastructure to support its recordkeeping obligations under U.S. securities law.
Ondo argues the proposal does not replace required records. Alpaca would still maintain official books under existing rules, including requirements under the Securities Exchange Act and FINRA supervision standards. The blockchain layer would function as a parallel system for tracking and reconciliation—not as the legal record of ownership.
Comparison with emerging market infrastructure
The request comes as the SEC has already allowed the DTC to explore a centralized tokenization model. Ondo’s approach differs by using a public blockchain rather than a closed system.
The company argues that limiting tokenization to centralized infrastructure may not be the only viable path, especially as blockchain-based systems become more integrated into financial markets.
Limited scope, broader implications
Ondo’s proposal is narrow in scope but raises broader policy questions. It tests whether existing regulatory frameworks can accommodate hybrid systems that combine traditional custody with on-chain transparency. If accepted, the model could offer a template for using blockchain in back-end financial operations without changing the legal structure of securities ownership.
For now, the outcome depends on whether the SEC views this approach as a permissible extension of existing practices or as a step that requires new rules.
Also Read: ABA Says White House Stablecoin Yield Study Misses Community Bank Risk
Disclaimer: The information researched and reported by The Crypto Times is for informational purposes only and is not a substitute for professional financial advice. Investing in crypto assets involves significant risk due to market volatility. Always Do Your Own Research (DYOR) and consult with a qualified Financial Advisor before making any investment decisions.






















Also part of the facility is an indoor swimming pool, impressive gym decked out in retro-style hardwood paneling and leather-bedecked workout equipment, and sauna. If you’re looking for long-term results, a wellness screening will analyze your body and determine the best strategies to soothe what ails you from muscle pain to digestion issues. Therapists specially trained in biohacking techniques set this spa apart from most others in the city.
This venue is the star of the show here. A rotating team of experts staffs the alchemy bar and provides their expertise on how to heal and cure guests and locals using natural ingredients. You name it, they’ve got it here, and almost all of it is sourced locally around the United Kingdom. What isn’t from the region is brought sustainably (the coffee beans arrive by sailboat rather than freight plane, for example).
What many may not realize is that the hotel also has a private members’ club that focuses mostly on food and beverage outlets, but also gives them access to the spa and fitness center. Following in the footsteps of other well-known club brands (like The Ned), Six Senses has a stringent member application that assures that the right people are mingling and gathering with each other here. It’s a place to do business and meet new friends.
On the ground level is Whiteley’s Kitchen, the all-day dining restaurant serving a range of dishes, all of which rely on produce and ingredients sourced locally. The culinary team visited more than two dozen British farms and suppliers to select everything they plan to use on the menu. An open-plan kitchen means that guests can watch chefs prepare their meals.
Most of the dishes on the menu have a special twist (my delicious shakshuka, for example, came as an omelet rather than the traditional baked preparation). While the hotel has its own coffee and pastry shop on the other side of the lobby, the breads and pastries here (including gluten-free options) are delightful. The sourdough bread here is killer and is hard to turn down.
Place is the second-floor restaurant reserved for hotel guests as well as club members (this is the first members club for Six Senses in the world). Try the clay oven-baked flatbreads, delicious Caesar salad, whole sea bream fish and lengthy cocktail menu.
Enormous rooms are the norm. While the views are not earth-shattering (rooms face either the internal courtyard or neighboring streets), the natural light and living spaces are. At the touch of a button, you can open or close the drapery. In some rooms, they open directly to a garden terrace.
For those that fall in love with the Six Senses lifestyle, there are furnished apartments and residences. They come with full access to the rest of the property’s amenities. All of the rooms are spacious here, but families are not a focus. The vibe here leans more towards jetsetting adults rather than toddler-toting tourists.
This was once the Whiteley’s Department Store, currently a Grade II-listed historic building. Here, the staff could source anything you wanted to buy. Legend has it, they could get anything “from a pin to an elephant,” and they have done both.
Whiteley’s was the origin of personal shoppers and was a London institution. Today, it has been reborn as a lifestyle development with shops, restaurants and of course the Six Senses. The hotel staff continues to wow and is clearly proud of this latest urban Six Senses. It opened only in March of this year. You’ll find a dedication to sustainability and new-age well-being. But, there is also an emphasis on traditional luxury hospitality. That makes this Six Senses a destination for a wide range of travelers to London.


