Ondo Finance has appointed Allison Parent as Chief Policy Officer, enhancing their capabilities A lot with regulatory affairs. The new appointment is a great sign that they wants to take part actively in developing regulations that govern asset tokenization from pilot stages to production levels through wall street.
Who is Allison Parent and Why is Her Background Significant?
Mrs. Parent is replacing her post at the Global Financial Markets Association (Gfma) after nine years as Executive Director, where Gfma represented major financial banks on capital markets policies.
She held various government and central bank positions in her early career, then moved on to the private sector with Barclays and the Bank of England.
She held the post of General Counsel at the Budget Committee of the U.S. Senate which worked on Dodd-Frank, and has also provided advice to Financial Stability Board (Fsb), International Organisation of Securities Commissions (IOSCO), and commodities Futures Trading Commission (CFTC).
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What the Appointment Means to Tokenized Finance
The appointment of the company’s former co-founder as the head of the Parent group will see the company leading the global dialogue with policy-makers aiming for a set of clear standards for tokenized securities. Investors institutions developers, and regulators are the target groups who will be addressed by the company.
Developer of Ondo Chain, creator of OUSG and USDY, has a tokenized Treasury TVL of over $1.4 billion per DeFiLlama which it’s competing with BlackRock’s BUIDL, Franklin Templeton, and Superstate. Parent’s area of focus includes financial stability, market integrity, and consumer protection.
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Regulators and the Next Steps
Regulators have been working on the GENIUS Act for stablecoins at the federal level, SEC tokenization roundtables, and Europe’s MiCA implementation alongside other major global regulatory developments. The tokenized Treasury market’s capitalization has increased to over $7 billion, as per RWA.xyz.
Source: Ondo Finance
Also Read: GENIUS Act Stablecoin Rules Gain Blockchain Association Support
