Abu Dhabi Global Market (ADGM) has granted regulatory approval for Ondo Finance's tokenized equities to be traded on Binance's regulated platform. This marks the first time the ADGM has approved tokenized securities trading under its framework. The approval allows UAE-based financial institutions to deal in tokenized versions of major stocks, including Amazon, Alphabet, Apple, Microsoft, and Nvidia, as well as the Invesco QQQ ETF. These products are available to non-U.S. users.
This development provides Binance with a regulated venue for tokenized equity trading, a service previously halted due to regulatory scrutiny. Ondo Finance, which structures its products as equity-linked notes, has processed over $11 billion in cumulative trading volume and holds more than $600 million in total value locked.