Key Highlights
- Ondo Finance debuts Ondo Perps, pioneering the use of tokenized equities as collateral for perpetual futures contracts
- International traders gain access to leverage up to 20x on equities, ETFs, and commodities around the clock
- Available assets feature Apple, Tesla, Nvidia, Micron, precious metals, and energy commodities
- Ondo Global Markets surpassed $1 billion in total value locked following its September 2025 debut
- Initial participants can claim portions of $150,000 in USDC incentives throughout the launch week
Ondo Finance has unveiled a groundbreaking perpetual futures trading platform that enables market participants to utilize tokenized equities as collateral—marking an industry first. The innovative platform, branded as Ondo Perps, is currently accessible to pre-alpha participants located outside U.S. borders.
LATEST: ⚡️ Ondo Finance says its Ondo Perps platform now lets pre-alpha traders use tokenized stocks as collateral for perpetual futures on commodities and stocks. pic.twitter.com/oXXPtVRbiy
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The trading infrastructure operates continuously throughout the week without interruption. Eligible international participants can engage with the platform at their convenience, unrestricted by conventional stock market operating hours.
Ondo Perps facilitates perpetual futures contracts on American equities, exchange-traded funds, and commodity assets. The roster encompasses Apple, Tesla, Nvidia, Micron, the S&P 500 through SPCX, QQQ, gold, and silver.
Market participants can pledge their tokenized equity positions directly as margin. This innovation eliminates the requirement to maintain separate liquidity pools across multiple trading venues.
The infrastructure provides leverage ratios reaching 20x. This functionality allows participants to control positions valued at twenty times their posted collateral amount.
Platform Mechanics and Infrastructure
Ondo Perps draws its liquidity directly from established financial markets. This approach delivers pricing spreads and market depth that Ondo claims rival traditional derivatives trading venues.
Transaction processing, margin calculations, and position liquidations occur instantaneously. Ondo asserts that execution velocity rivals the most rapid centralized cryptocurrency platforms while maintaining decentralized architecture.
Dollar-pegged cryptocurrencies serve as alternative collateral options alongside tokenized securities and funds. Market participants retain flexibility in determining their preferred margin posting method.
Ian De Bode, President of Ondo Finance, characterized the platform as “the first time a permissionless equity perps platform has been built with the infrastructure required to unlock liquidity, speed, and capital efficiency comparable to traditional derivatives markets.”
Market Expansion and Adoption
Ondo Global Markets, the tokenized equity infrastructure powering the platform, has experienced approximately 5% weekly expansion since its September 2025 introduction. The protocol now secures more than $1 billion in aggregate value locked.
Ondo recently introduced tokenized representations of BlackRock’s iShares Core S&P 500 ETF and Micron equity just prior to this platform debut. These additions followed a custodial framework the SEC established in January.
Previously, Ondo extended blockchain-based access to more than 100 American stocks and ETFs for investors across Asia-Pacific, European, African, and Latin American territories.
Ondo Perps remains unavailable to residents of the United States, Panama, and additional restricted territories. Platform operations are managed by Ondo Global Panama Inc.
To incentivize initial adoption, Ondo is distributing $150,000 in USDC rewards based on trading volume during the inaugural week.
This launch positions Ondo Perps as a competitor to established cryptocurrency derivatives platforms including Ostium and Hyperliquid.
Tokenized equities have traditionally served as static blockchain-based holdings. Ondo’s infrastructure now transforms them into dynamic collateral within an operational derivatives ecosystem.
