Ondo Launches First Perps Platform Using Tokenized Stocks as Collateral

Ondo Finance has launched a new platform called Ondo Perps, the first decentralized platform globally that enables investors outside the United States to trade perpetual futures on U.S. equities using tokenized shares as collateral, without needing a traditional brokerage account.

The Product

Ondo Perps is a decentralized perpetual futures platform built on technology developed by Ondo Finance. It allows investors to use tokenized shares—digital representations of U.S. stocks on the blockchain—as collateral to open leveraged positions on perpetual futures. For example, an investor could use tokenized Apple (AAPL), Tesla (TSLA), or Micron (MU) shares as collateral to trade perpetual futures on other U.S. equities.

Pricing and Availability

Ondo has not yet disclosed fee schedules or minimum deposit requirements. The platform is currently available only to non-U.S. investors due to U.S. regulatory restrictions.

Competition

Ondo Perps enters a competitive market of decentralized perpetual futures platforms such as dYdX, GMX, and Synthetix. However, Ondo's unique selling point is the use of tokenized stocks as collateral, which competing platforms do not currently offer.

Potential Impact on the Company

This launch represents a significant expansion for Ondo Finance into the decentralized derivatives space. If the platform attracts sufficient liquidity, it could become a key player in bridging traditional finance with decentralized finance (DeFi), potentially increasing demand for Ondo-issued tokenized stocks.