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Ondo Finance has completed its acquisition of Oasis Pro, gaining comprehensive SEC-registered licenses that position the real-world asset (RWA) tokenization company to develop regulated markets for tokenized securities in the United States.
The deal, announced in a blog post today, gives Ondo access to Oasis Pro's digital assets broker-dealer registration, alternative trading system (ATS) authorization, and transfer agent licenses. The company described the package as "the most comprehensive set of SEC registrations to provide digital asset services in the United States."
"We now have the most comprehensive suite of licenses and infrastructure necessary to develop compliant and regulated tokenized securities markets in the U.S.," said Nathan Allman, CEO and founder of Ondo Finance. "This acquisition makes Ondo's offering one of the strongest commitments to building a transparent, accessible, and compliant financial system onchain."
The acquisition provides Ondo with full-stack infrastructure for tokenized securities, including capabilities for primary offerings, secondary trading of both public and private securities, transfer agent services, and capitalization management. The platform supports settlement in digital currency or fiat, with regulatory approval to conduct secondary market activities across traditional NMS securities, OTC equities, corporate debt, closed-end mutual funds, REITs, structured products, mortgage and asset-backed securities, and privately placed securities.
Oasis Pro's licenses also enable capital markets activities including private placements, underwriting, and mergers and acquisitions advisory functions. The regulatory framework allows Ondo to bridge traditional financial markets with blockchain infrastructure under existing securities regulations.
Founded in 2019, Oasis Pro operates through its subsidiaries an SEC-registered and FINRA member broker-dealer and ATS, along with an SEC-registered transfer agent. The company was among the first U.S.-regulated alternative trading systems authorized to support settlement of digital securities in stablecoins including USDC and DAI alongside fiat currency.
Oasis Pro has served as a FINRA member since 2020 and participates in FINRA's Crypto Working Group, contributing to the evolving regulatory framework for tokenized assets in the U.S. The company was backed by investors including Mirae Asset Ventures.
Ondo has established itself as a major player in real-world asset tokenization with over $1.6 billion in assets under management across its existing tokenized products. The company's flagship offerings include OUSG, a tokenized fund backed by short-term U.S. Treasury securities, and USDY, a yield-bearing stablecoin backed by bank deposits and Treasuries.
The acquisition accelerates Ondo's roadmap as the tokenized securities market expands rapidly. Industry projections estimate the market could exceed $18 trillion by 2033 as traditional financial institutions increasingly adopt blockchain-based settlement and custody infrastructure.
Bringing regulated market infrastructure in-house allows Ondo to control the entire value chain from tokenization through trading and settlement. The vertical integration eliminates reliance on third-party platforms and provides flexibility to develop new products within established regulatory frameworks.
The deal reflects broader consolidation in digital asset infrastructure as companies seek to acquire rather than build compliance capabilities. SEC and FINRA registrations typically require years to obtain, with extensive regulatory review of operations, personnel, and capital adequacy. Acquiring existing licensed entities provides immediate market access while avoiding lengthy approval processes.
Tokenized securities have gained momentum as traditional finance explores blockchain-based settlement systems offering potential cost reductions and operational efficiencies. Major institutions including BlackRock, Franklin Templeton, and WisdomTree have launched tokenized fund products, validating the market opportunity.
Ondo's licensing portfolio now positions it to serve as infrastructure for other issuers seeking to tokenize securities, potentially generating revenue from platform fees and transaction processing beyond its own product offerings. The company did not disclose whether it plans to open the Oasis Pro infrastructure to third-party issuers.
The acquisition terms were not disclosed. Ondo raised $134 million in Series A funding in January 2024 at a $500 million valuation, led by Founders Fund with participation from Pantera Capital, Coinbase Ventures, and other investors. The company has not announced additional fundraising since that round.
The Oasis Pro acquisition follows Ondo's strategic focus on building regulated infrastructure rather than pursuing unregistered token offerings. The company's products operate within traditional securities frameworks, offering yields through regulated investment vehicles rather than DeFi protocols.
