Key Takeaways
- Ondo Finance hires Peter Curley, a former SEC, U.S. Treasury, and Coinbase executive, to lead global regulatory affairs.
- RWA tokenization has surged to over $28 billion but still lacks uniform regulatory clarity.
- Governments worldwide are accelerating efforts to release explicit frameworks for tokenized assets.
Ondo Finance, one of the leading players in the real-world asset (RWA) tokenization market, has appointed Peter Curley, a former U.S. Treasury and Securities and Exchange Commission (SEC) official, as its new head of global regulatory affairs.
Curley, who most recently worked in policy at Coinbase, will spearhead Ondo’s engagement with regulators and policymakers as the company navigates the fast-evolving market for tokenized securities.
Ondo Eyes Regulatory Clarity
“There has never been more consensus that bringing tokenized products to market should be an immediate regulatory priority. I look forward to advancing Ondo’s vision and contributing to global dialogue on regulation,” Curley said in a statement shared with CCN.
RWA tokenization has been one of the defining narratives of the 2025 bull market, with more than $28 billion worth of assets now on-chain, according to industry trackers.
Initially dominated by real estate-backed securities and non-fungible tokens (NFTs), tokenization has matured into a broader financial trend.
Today, tokenized private credit accounts for nearly 60% of the market, while U.S. Treasury debt makes up another third. These segments have grown rapidly thanks to greater regulatory clarity in key jurisdictions.
Despite this progress, the sector still lacks consistent rules, leaving major platforms like Ondo Finance to push for a unified global standard that institutions can follow.
Governments’ Race to Define Rules
The regulatory outlook for tokenization is diverging across regions:
- United States: Regulators generally apply the Howey Test to tokenized assets, treating most as securities. This places them under SEC jurisdiction, requiring registration or exemptions.
- European Union: The bloc’s MiCA framework offers a clearer path, classifying asset-backed tokens as either securities or crypto-assets depending on their structure.
- Dubai: The Virtual Assets Regulatory Authority (VARA) has emerged as a global pioneer, licensing large-scale tokenization projects such as MultiBank Group’s $3 billion real estate tokenization deal with MAG and Mavryk.
These efforts underscore both the global appetite for tokenization and the lack of uniformity that continues to pose challenges for market participants.
Ondo’s Position in a Shifting Market
By recruiting Curley, Ondo is signaling its intent to be at the center of the regulatory conversation as governments move to recognize and define the rules of tokenized finance.
The hire also positions Ondo as one of the first movers to formalize high-level regulatory strategy at a time when institutional interest in RWA tokenization is accelerating but still constrained by legal uncertainty.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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