PANews reported on April 13 that, according to its official blog, Ondo Finance has submitted a no-action letter request to the U.S. Securities and Exchange Commission ( SEC ), seeking confirmation that, without altering the existing securities legal framework, it can record and manage the securities interests related to Ondo Global Markets ( OGM ) in tokenized form on the Ethereum mainnet. OGM will remain a tokenized note linked to U.S. stocks and ETFs for non-U.S. investors. The underlying securities and official ledger will continue to remain within the existing custody and clearing system. Only under specific circumstances will the custodian, BitGo , hold the corresponding securities interests on-chain for operational optimizations such as staking monitoring, redemption processes, and reconciliation. Ondo stated that this application aims to improve record-keeping and operations, rather than rewriting the market structure or launching entirely new products.