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

In a bid to align its tokenized equities with traditional ones, Ondo Finance has launched a proxy voting feature, enabling investors to participate in corporate decision-making. This move allows holders of over 250 tokenized securities on the Ondo platform to review company documents and cast their votes via Broadridge's ProxyVote system. By logging in with their crypto wallets, investors can access tools and documents typically reserved for traditional brokerage accounts. The introduction of proxy voting is a significant development in the rapidly growing tokenized equities sector, which has seen its value triple to over $1.1 billion in the past year. As the largest issuer in this sector, with over $700 million in tokenized stocks and ETFs, Ondo's move is expected to have a profound impact. The new system enables investors to express their preferences, which Ondo can then apply when voting on the underlying shares. According to Matthieu de Vergnes, Ondo's global head of institutional, this development is a key part of the company's vision to make traditional financial assets more accessible. "By combining the benefits of being on-chain with the governance of traditional assets, we can create a more inclusive and transparent financial system," he said. Broadridge, a leading provider of proxy voting services in traditional markets, is extending its infrastructure to support blockchain-based assets. The goal is to create a seamless experience for investors, with the same level of auditability, transparency, and compliance for both digital and traditional assets. As Danielle Gurrieri, senior vice president and head of product management at Broadridge, noted, "This will go a long way in making the tokenized world more scalable and trustworthy for end investors."