Ondo Finance said it has deployed its tokenized stocks as collateral on OndoPerps, a perpetual futures venue, starting with SPYon and QQQon, in a post published Monday on X.
The OndoPerps account said tokenized stock collateral is "live" and "now available for all users," letting Ondo Stocks back perpetual futures positions. SPYon and QQQon are tokenized versions of exchange-traded funds tracking the S&P 500 and the Nasdaq-100.
Ondo Stocks are tokenized stocks, ETFs and ADRs that give holders economic exposure to underlying assets but are not themselves those securities, and the tokens are issued by Ondo Global Markets (BVI) Limited.
The feature lets traders post those tokens as margin rather than converting to stablecoins or selling other holdings. OndoPerps said an initial $100,000 per-asset notional cap applies and will be expanded, and that more Ondo Stocks will be added as eligible collateral over time.
OndoPerps said trading volume on the platform "has accelerated past $3.8 billion," and that it offers up to 20x leverage and 24/7/365 operations. The Defiant could not independently verify the volume figure, which comes from the platform itself.
