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OndoPerps adds tokenized stock collateral for SPY and QQQ futures

The collateral rollout is capped at an initial $100,000 per-asset notional and expands eligibility to additional tokenized stocks over time.

Reported · Written up by our desk · Market Structure

Ondo Finance said it has made tokenized stock collateral available on its OndoPerps perpetual futures venue, starting with SPYon and QQQon. The platform said the collateral is live and available for all users, enabling Ondo Stocks holders to back perpetual futures positions without converting holdings into stablecoins or selling other assets.

SPYon and QQQon are tokenized ETF versions tracking the S&P 500 and Nasdaq-100, respectively. Ondo Stocks are tokenized stocks, ETFs, and ADRs issued by Ondo Global Markets (BVI) Limited that are designed to give holders economic exposure to underlying assets.

OndoPerps said an initial $100,000 per-asset notional cap applies, with plans to expand the approach to more eligible Ondo Stocks over time. The venue also said trading volume on the platform has accelerated past $3.8 billion, though The Defiant reported it could not independently verify that figure.

OndoPerps noted it operates within jurisdictional limits and attached disclosures state access is prohibited for US persons. The disclosures also say the perpetual futures contracts have not been registered under the US Securities Act of 1933, and that the Ondo Stocks tokens are similarly unregistered under US securities laws.

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