- Ondo gains approval to offer tokenized US stocks across Europe.
- Liechtenstein’s passporting regime enables seamless distribution of tokenized equities EEA wide.
- EU considers shifting crypto oversight to ESMA amid MiCA discussions.
Ondo Global Markets has taken a major step toward broadening investor access to tokenized assets after receiving regulatory approval from the Liechtenstein Financial Market Authority. This approval will allow the US based tokenization platform to introduce tokenized US stocks and exchange traded funds to investors throughout the European Economic Area.
According to Ondo, the authorization enables more than 500 million investors across 30 EEA countries to gain regulated onchain exposure to US markets. This expansion creates a direct path for retail investors to interact with tokenized equities under a recognized and unified framework.
Besides strengthening its reach, the move builds on Ondo’s recent partnership with BX Digital, the digital asset arm of Boerse Stuttgart Group. That collaboration made tokenized stock trading available in Switzerland earlier in November and positioned the company to accelerate its presence across Europe.
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Liechtenstein’s MiCA Alignment Supports Wider Market Access
Liechtenstein’s approval relies on its passporting regime, which allows authorized firms to operate across the entire EEA without needing separate approvals in each country. This framework includes all EU member states as well as Iceland, Liechtenstein and Norway.
Additionally, Liechtenstein has implemented the EU wide Markets in Crypto Assets framework through the EEA MiCA Implementation Act which came into force in February.
Consequently, crypto asset service providers will be required to obtain MiCA authorization from the Liechtenstein FMA once the transitional period ends on December 31 2025. This structure forms the regulatory foundation that enables Ondo to distribute tokenized stocks and ETFs to retail users throughout the region.
Debate Over EU Level Oversight Intensifies
Reports indicate that the approval arrives at a time when the European Union is assessing how much supervisory authority individual member states should hold under MiCA. EU officials are drafting proposals to designate the European Securities and Markets Authority as the direct regulator for crypto asset service providers.
Hence, the discussion has added attention to the balance between national and EU level oversight in the digital asset sector.
Ondo did not specify the exact regulatory mechanism behind the approval but emphasized that its operations will align with established investor protection standards.
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