US tokenization platform Ondo is preparing to offer tokenized stocks and ETFs in 30 European countries after securing regulatory approval in Liechtenstein.
Ondo Wins Liechtenstein Approval to Offer Tokenized Stocks in Europe
Ondo Global Markets, a U.S.-based tokenization platform, has received approval from the Liechtenstein Financial Market Authority (FMA) to offer tokenized stocks and exchange-traded funds (ETFs) to investors across Europe, the company announced on Tuesday.
With this authorization, Ondo says that more than 500 million investors in 30 European countries will soon be able to access regulated, on-chain exposure to U.S. markets.
The approval follows Ondo’s recent partnership with Boerse Stuttgart Group’s digital asset arm, BX Digital, which enabled trading of tokenized stocks in Switzerland earlier this month.
Liechtenstein’s MiCA Alignment Opens the Door
Although Liechtenstein is not an EU member, it is part of the European Economic Area (EEA) and has adopted the EU’s Markets in Crypto-Assets (MiCA) framework through its EWR-MiCA-DG act, which took effect in February. This allows Ondo to “passport” its approval across all 30 EEA countries — including all 27 EU member states plus Iceland, Liechtenstein, and Norway.
Ondo did not specify the exact regulatory pathway used to obtain approval but emphasized Liechtenstein’s passporting regime, which extends authorization throughout the EEA. After Dec. 31, 2025, crypto asset service providers must hold MiCA authorization from Liechtenstein’s FMA once the transitional period ends.
Regulatory Debate Continues in Europe
The announcement comes as EU officials debate how much oversight individual member states should retain under MiCA. Reports suggest the EU is considering giving the European Securities and Markets Authority (ESMA) direct authority over all crypto asset service providers across the bloc.
Featured image from: reddit.com