Ondo Wins Liechtenstein Approval to Offer Tokenized Stocks in Europe

TLDR

• Ondo Global Markets received regulatory approval from the Financial Market Authority of Liechtenstein to offer tokenized stocks in Europe.
• The approval grants Ondo access to more than 500 million retail investors across 30 countries of the European Economic Area.
• Ondo can now offer tokenized stocks and exchange-traded funds in all 27 EU nations plus Iceland, Liechtenstein and Norway.
• The company partnered with Boerse Stuttgart Group’s BX Digital to launch tokenized stock trading in Switzerland on November 3.
• Liechtenstein’s passporting regime allows Ondo to operate across the entire EEA under a unified regulatory framework.

Ondo Global Markets has obtained regulatory clearance from the Financial Market Authority (FMA) of Liechtenstein to launch tokenized stocks across Europe. The US-based tokenization platform can now offer tokenized stocks and exchange-traded funds to investors in 30 European countries. This approval opens access for more than 500 million retail investors to purchase US market exposure directly on blockchain networks.

The company announced the regulatory milestone on Tuesday. Ondo highlighted that European investors will soon be able to access regulated tokenized securities through its platform. The approval follows the company’s November 3 partnership with the digital asset arm of Boerse Stuttgart Group, BX Digital, for tokenized stock trading in Switzerland.

Ondo Gains Access to 30 EEA Nations

Liechtenstein’s FMA approval grants Ondo permission to operate across all member states of the European Economic Area. The company can now serve retail investors in all 27 member states of the European Union, plus Iceland, Liechtenstein, and Norway. This regulatory framework ensures compliance with established investor protection standards throughout Europe.

Ondo operates within Liechtenstein’s passporting regime, which extends market access across the entire EEA. The company did not specify which exact framework it used to secure approval for tokenized stock offerings. However, Liechtenstein is an EEA member state with complete regulatory alignment with EU financial laws.

The platform positions itself as a bridge between traditional US markets and European crypto investors. Ondo enables direct onchain access to US stocks and ETFs for European retail participants. The company stated it now works within a “unified, regulated European framework.”

MiCA Framework Shapes European Crypto Regulation

Liechtenstein implemented the EU-wide Markets in Crypto-Assets (MiCA) framework through the EWR-MiCA-DG act. This legislation entered into force in February 2025. All crypto asset service providers must hold MiCA authorization from Liechtenstein’s FMA after December 31, 2025.

The transitional period gives Ondo and other platforms time to comply with MiCA requirements fully. Service providers operating without proper authorization will face restrictions once the deadline passes. Ondo’s early approval positions the company ahead of this regulatory transition.

EU officials are currently drafting plans to centralize crypto supervision under the European Securities and Markets Authority. Some member states resist ceding supervisory control to a bloc-wide regulator. These internal tensions continue to shape the regulatory landscape for tokenized securities across Europe.

Ondo’s European expansion follows its Swiss market entry through the BX Digital partnership. The company continues to build its presence in regulated markets worldwide. European retail investors will gain access to Ondo’s tokenized US securities once the platform launches its services.

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