Ondo Enables Proxy Voting for Tokenized Stocks via Broadridge

Ondo Finance partners with Broadridge to allow holders of tokenized stocks and ETFs to participate in proxy voting. The collaboration closes a gap between onchain securities and traditional equities, according to a Tuesday announcement.

Broadridge's Web3-enabled relay system lets tokenholders connect their crypto wallet to the ProxyVote platform, submit voting preferences, and have Ondo's issuer vote the underlying real shares. The process records onchain for transparency.

"By working with Broadridge, we are enabling holders of our on-chain tokenized stocks to access governance and voting capabilities, with all the additional benefits on-chain tokens provide," says Matthieu de Vergnes, global head of institutional at Ondo Finance.

Proxy voting authorizes another party to vote on corporate matters, a standard in traditional equity but missing in tokenized stocks until now. Tokenized stocks reach $1.15 billion in distributed value, up 25.46% over the past 30 days per RWA.xyz data, with $2.27 billion monthly transfer volume and over 217,000 holders.

Ondo claims 70% of the tokenized stock market with over $700 million total value locked across Solana, Ethereum and BNB Chain. Its tokens back corresponding stocks or ETFs, including prominent assets like Tesla, NVIDIA and S&P 500-linked products.