@OndoFinance has opened the public beta for Ondo Perps, granting the first wave of approved users access to equity perpetual futures trading on-chain. The launch marks a significant expansion
@OndoFinance has opened the public beta for Ondo Perps, granting the first wave of approved users access to equity perpetual futures trading on-chain. The launch marks a significant expansion for the protocol, which has until now been best known for tokenized Treasuries and tokenized stocks.
Ondo Perps is designed as a capital-efficient platform for perpetual futures on leading U.S. stocks, ETFs, and commodities. The platform targets non-U.S. users worldwide, offering 24/7 trading of perpetual futures on prominent U.S. equities and ETFs with leverage up to 20x. At launch, supported assets include perpetual futures on AAPL, AMD, AMZN, COIN, GOOGL, META, MSFT, MSTR, NFLX, NVDA, ORCL, PLTR, QQQ, TSLA, XAU, and XAG, among others.
The platform's standout feature is its collateral structure. Ondo's main differentiator is its collateral structure, which lets traders post tokenized securities rather than only stablecoins. This allows tokenized securities to be used as collateral so that there are no duplicated reserves and previously locked capital can be deployed productively.
Ondo enters the perpetuals space from a position of market leadership in tokenized equities. Its tokenized stock platform, Ondo Global Markets, holds more than 70% market share among tokenized equity issuers according to RWA.xyz, and crossed $1 billion in total value locked on May 11, which Ondo described as the first tokenized stock platform to reach that milestone in under eight months.
The public beta launch also comes against a shifting regulatory backdrop. The CFTC approved Kalshi's BTCPERP contract on May 29, becoming the first perpetual futures contract cleared for trade on a U.S. exchange. Ondo Perps and the Kalshi approval differ in scope, one targeting non-U.S. equity perps and the other a U.S.-regulated Bitcoin perp, but together they point to growing regulatory acceptance of the product.
The rollout is being led by CEO Ian De Bode, who took over following the unexpected passing of Ondo Finance founder Nathan Allman in May. De Bode has indicated that Ondo Finance is positioning itself to move beyond asset tokenization, with plans to broaden into trading services, prime brokerage, and asset management.
Sources:TheStreet Crypto: Ondo is bringing leveraged stock trading on-chain with Ondo PerpsCryptopolitan: Ondo Finance prepares RWA perpetual contracts platformTheStreet Crypto: Ondo unveils Ondo Perps for equity perpetual futures trading
