Ondo Finance Introduces Proxy Voting for $700 Million in Tokenized Equities

In a move to bridge the gap between traditional and tokenized equities, Ondo Finance has introduced proxy voting, enabling investors to engage in corporate governance. This feature, developed in collaboration with Broadridge Financial Solutions, allows holders of over 250 tokenized securities on the Ondo platform to review company filings and cast votes through Broadridge's ProxyVote system. By logging in with their crypto wallets, investors can access documents and governance tools typically reserved for traditional brokerage accounts. As the tokenized equities sector experiences rapid growth, with over $1.1 billion in value locked, Ondo, the largest issuer with over $700 million in stock and ETF tokens, is enhancing its offerings for non-U.S. investors. The introduction of proxy voting addresses a significant gap in tokenized equities, which often lack basic governance rights. Although Ondo's tokens do not grant direct shareholder rights, the new system enables investors to express preferences that Ondo can apply when voting on the underlying shares. According to Matthieu de Vergnes, Ondo's global head of institutional, this development aligns with the company's vision to make traditional financial assets more accessible, combining the benefits of on-chain assets with the governance of underlying assets. Broadridge, a leading processor of proxy votes in traditional markets, is extending its infrastructure to blockchain systems, aiming to support both digital and conventional assets within the same workflows. This integration is expected to enhance auditability, transparency, and compliance, ultimately increasing investor trust and scalability in the tokenized world, as noted by Danielle Gurrieri, senior vice president and head of product management at Broadridge.