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FollowingOndo Perps 'cumulative trading volume exceeded US$7 billion, with tokenized stock collateral becoming the main driver.
Ondo Perps, a perpetual derivatives platform built by Ondo Finance, has cumulative trading volume exceeded US$7 billion. About $3 billion of this was realized after the platform launched tokenized stocks as collateral for perpetual futures positions.
How tokenized stocks drive trading volume
Ondo Perps will be launched in July 2026. It is the first perpetual futures platform for stocks and commodities. It also supports tokenized stock positions and stablecoins as collateral for derivative positions.
The platform provides round-the-clock trading services with a maximum leverage of 20 times, and its liquidity level is said to be comparable to that of traditional futures and options markets. Ondo Finance deploys its tokenized stocks as collateral on Ondo Perps, starting with tokenized versions of SPY and QQQ-two ETFs that track the S & P 500 and Nasdaq 100 respectively.
This feature allows traders to directly use these tokens as margin without having to convert them into stablecoins or sell other positions. The resulting structure integrates income-based equity-linked assets and high-frequency leveraged trading into the same platform. Users do not need to sell tokenized stocks to release liquidity, and can open leveraged perpetual positions while maintaining their original positions.
The move addresses one of the core issues facing tokenized real-world assets: whether these assets can become active financial infrastructure rather than just static representatives of off-chain securities. If tokenized stocks can be used as collateral in derivatives markets, they could play a broader role in trading, margin management and capital efficiency.
Rapid growth since its launch
The platform was officially launched on July 7 and quickly became one of the fastest growing trading platforms focusing on real-world asset perpetual futures. Ondo Global Markets, which provides the underlying tokenized stock infrastructure, has seen the total locked value increase by approximately 5% per week since its launch in September 2025 and currently exceeds US$1 billion.
The platform supports perpetual contracts for a variety of assets, including oil, gold, silver, and tokenized versions of stocks of major companies such as Intel, AMD, Meta, Tesla, Apple, Nvidia, Oracle, Netflix, Micron, SpaceX, Palantir, Amazon, Alphabet, Coinbase, Microsoft and Robinhood. 24/7 unlicensed trading is open to traders outside the United States, Panama and other restricted areas.
Ian De Bode, President of Ondo Finance, said: "We are rapidly approaching an investment experience that, frankly, is far superior to what traditional brokerage accounts can provide. "The $7 billion transaction volume milestone shows that early market demand for this vision is being realized faster than most people expected.
