Overview
- Liechtenstein’s FMA clearance opens access to 30 EEA markets covering more than 500 million retail investors.
- The permission allows tokenized exposure to U.S. stocks and ETFs directly on chain for customers in all EU states plus Iceland, Norway, and Liechtenstein.
- The move follows Ondo’s November 3 rollout of tokenized stock trading in Switzerland through Boerse Stuttgart Group’s BX Digital.
- Liechtenstein has already enacted the EU’s MiCA rules, with a transitional period ending December 31, 2025, after which providers must hold MiCA authorization.
- EU discussions continue over shifting more supervision to ESMA to unify oversight of crypto-asset service providers across member states.