Key Highlights
- Oasis Pro Markets, an Ondo Finance subsidiary, has joined the DTCC’s Fund/SERV network.
- DTCC and Ondo described the firm as the first tokenization platform to join the network.
- The membership provides access to Fund/SERV systems for transaction processing, reconciliation, and reporting.
Ondo Finance is connecting its tokenized fund business to the Depository Trust & Clearing Corporation (DTCC) through its subsidiary Oasis Pro Markets, which has joined the DTCC’s Fund/SERV network.
According to an announcement published on September 16, DTCC and Ondo described Oasis Pro Markets as the first tokenization platform to become a Fund/SERV member.
The membership gives Oasis Pro Markets access to established systems used by financial institutions for fund transaction processing and related administrative functions.
It does not mean that Ondo’s tokenized funds will automatically become available through financial institutions connected to Fund/SERV.
Oasis Pro markets joins Fund/SERV
Oasis Pro Markets is a U.S.-registered broker-dealer and distributor of tokenized investment products and a subsidiary of Ondo Finance..
Fund/SERV provides a standardized system for financial firms to exchange fund-related information and process transactions. Its functions include account data, transaction confirmations, reconciliation, distributions, and reporting.
According to Ondo, the network handles more than 85% of U.S. mutual fund transaction activity.
For Oasis Pro Markets, the membership provides a connection to infrastructure already used across the traditional fund industry.
Membership does not guarantee distribution
The new connection does not constitute a distribution agreement for Ondo’s products.
Financial institutions, wealth platforms and other participants would still need to decide whether to support individual tokenized funds.
DTCC Managing Director and Head of Wealth & Investment Solutions Talia Klein said interoperability between existing financial systems and digital-asset infrastructure will be important as tokenization develops.
“Interoperability between traditional infrastructure and digital asset ecosystems will be critical to achieving scale and broad market adoption.”
The practical impact of the membership will therefore depend on how Oasis Pro Markets and other Fund/SERV participants use the connection.
Tokenized funds still rely on financial infrastructure
Ondo has been developing blockchain-based versions of traditional investment products, including funds linked to U.S. Treasuries and other securities.
While blockchain networks can record ownership and transactions, tokenized funds still require supporting services such as custody, administration, compliance, reporting, and distribution.
Fund/SERV provides part of that operational infrastructure through its standardized fund-processing system.
Ian De Bode, Acting CEO and President of Ondo Finance, said the connection will allow Oasis Pro Markets to interact with fund companies, wealth platforms and service providers through existing industry infrastructure.
The development therefore adds a traditional fund-processing connection to Ondo’s existing tokenization infrastructure.
DTCC expands its tokenization work
The Fund/SERV development comes alongside separate DTCC initiatives involving blockchain and tokenized securities.
In July, DTCC announced a real-world asset pilot involving more than 40 financial institutions, including JPMorgan and BlackRock. The project is examining blockchain-based settlement for tokenized stocks and U.S. Treasuries while maintaining legal ownership records within existing market structures.
That initiative is separate from Fund/SERV and focuses on securities settlement rather than mutual fund processing.
In September, HashKey also joined DTCC’s Digital Assets Advisory Services Industry Working Group, becoming its first Asian digital asset service provider.
The projects cover different areas of financial-market infrastructure, including securities settlement, industry standards, and fund operations.
What the Fund/SERV membership adds
Oasis Pro Markets’ membership connects Ondo’s tokenized fund business to an established system used for fund transaction processing and administration.
The membership does not itself guarantee distribution of Ondo’s products through Fund/SERV participants. Broader adoption will depend on whether financial institutions, wealth platforms and other market participants choose to support the tokenized funds.
For now, the development gives Ondo another connection between its blockchain-based investment products and existing financial-market infrastructure.
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