Ondo Finance launched a pre-alpha version of its perpetual futures platform that allows users to trade with tokenized stocks as collateral. The platform, Ondo Perps, lets eligible traders use tokenized stocks to access perpetual futures tied to commodities such as oil and gold, as well as equities including Apple and Tesla, available 24/7 to traders outside the U.S., Panama, and other prohibited jurisdictions. The move targets whether tokenized real-world assets can become active financial infrastructure rather than static representations of offchain securities, with Ondo offering $150,000 in USDC tied to first-week trading activity.
Ondo Perps Enables Tokenized Stock Collateral for Derivatives Trading
Ondo Perps allows users to trade perpetual futures on U.S. stocks, ETFs, and commodities around the clock, with leverage of up to 20x. The platform is designed to deliver liquidity and capital efficiency closer to traditional derivatives venues while keeping the onchain structure of tokenized assets. Tokenized stocks can sit inside a margin system and support futures trading, becoming part of a broader capital stack. Ondo Finance President Ian De Bode stated, "We are rapidly approaching an investing experience that is, quite frankly, far better than what a traditional brokerage account can offer." The firm is offering early trading rewards, including $150,000 in USDC tied to first-week activity.
Platform Excludes U.S. and Panama Under Jurisdictional Restrictions
The platform's availability outside the U.S., Panama, and other prohibited jurisdictions reflects how tokenized equities and derivatives remain tied to regulatory boundaries. Tokenized stocks may trade onchain, but they still reference securities that are regulated in traditional markets. Offering 24/7 permissionless trading to eligible global users gives Ondo a wider potential market, but excluding U.S. users reduces the regulatory pressure attached to launching stock-linked perpetual futures and tokenized equity collateral. The jurisdictional limits define who can access the product, how liquidity develops, and whether tokenized stock collateral can scale into a deeper market.
Ondo Expands Tokenized Asset Business Into Perpetual Futures Market
Ondo is entering a perpetual futures market that already includes crypto-native platforms such as Hyperliquid and Ostium. The company previously launched 24/7 onchain access to more than 100 U.S. stocks and ETFs for eligible investors in Asia-Pacific, Europe, Africa, and Latin America. More recently, it expanded its U.S. footprint with tokenized versions of BlackRock's iShares Core S&P 500 ETF and Micron shares under a third-party custodial framework. The expansion gives Ondo a broader base for its perpetual futures strategy, as traders could use equity-linked assets to manage exposure across commodities, equities, and other perpetual markets without moving capital back into traditional brokerage rails.
FAQ
What did Ondo Finance launch?
Ondo Finance launched a pre-alpha version of its perpetual futures platform, Ondo Perps, that allows users to trade with tokenized stocks as collateral for perpetual futures tied to commodities and equities.
Who can access the Ondo Perps platform?
The platform is available 24/7 to eligible traders outside the U.S., Panama, and other prohibited jurisdictions.
What leverage does Ondo Perps offer?
Ondo Perps allows users to trade perpetual futures with leverage of up to 20x.
