Ondo Perps is a perpetual futures trading platform launched by Ondo Finance, designed to bring traditional finance (TradFi) derivatives into the cryptocurrency market and inject new vitality into the real-world assets (RWA) sector.The platform allows users to trade perpetual contracts on traditional financial assets using RWA tokens as collateral and provides 24/7 liquidity.
Key Features of Ondo Perps
- RWA as Collateral: Unlike most perpetual futures exchanges that only accept cryptocurrency or stablecoins as collateral, Ondo Perps allows users to use tokenized real-world assets (such as U.S. Treasury bonds, stocks, ETFs, etc.) as collateral for leveraged trading. This enables RWA holders to unlock liquidity for derivatives trading without forfeiting returns on their underlying assets, thereby achieving greater capital efficiency.
- Trading Traditional Financial Assets: Ondo Perps will support perpetual contract trading for traditional financial assets such as tokenized U.S. stocks, ETFs, and commodities. For example, users can trade perpetual contracts for popular stocks like Apple, NVIDIA, Tesla, Amazon, Meta Platforms, and Microsoft, as well as commodities such as precious metals and oil.
- High Leverage and 24/7 Trading: The platform offers leverage of up to 20x and supports 24/7 uninterrupted trading, breaking through the trading time constraints of traditional stock markets.
- Bridging TradFi and DeFi: Ondo Finance is committed to bridging the gap between traditional finance and decentralized finance through the tokenization of Real-World Assets (RWAs). The launch of Ondo Perps is a significant step toward this vision, combining the deep liquidity of traditional finance with the efficiency of the crypto market.
Ondo Finance’s Strategy in the RWA Space
Since its founding in 2021, Ondo Finance has focused on bringing institutional-grade traditional financial products to the blockchain. Its main products include:
- USDY: An interest-bearing stablecoin that provides U.S. dollar returns.
- OUSG: A tokenized U.S. Treasury ETF that provides users with exposure to U.S. Treasuries. This product has migrated approximately $95 million in assets to the BUIDL Fund managed byBlackRock (BlackRock).
- Ondo Global Markets: The platform has launched over 200 tokenized U.S. stocks, ETFs, commodities, and bonds on blockchains such as Solana, featuring 1:1 asset backing and physical securities held by regulated custodians. As of May 2026, Ondo Global Markets held over 70% of the market share in the tokenized equity market, with a total value locked (TVL) of $1.5 billion.
The launch of Ondo Perps marks Ondo Finance’s transition from passive holding to active trading in the RWA space, completing the closed-loop ecosystem of “issuance + trading + derivatives.”
Market Impact and Outlook
The launch of Ondo Perps comes on the heels of the U.S. Commodity Futures Trading Commission (CFTC) approving the nation’s first regulated perpetual futures contract. This regulatory development sends a positive signal to the perpetual futures market and may accelerate the growth of tokenized stock and commodity trading.
Currently, Ondo Perps is primarily available to non-U.S. users, providing a buffer for its compliant operations and future institutional partnerships. With the integration of numerous ecosystem partners—including Fidelity, PayPal, and JPMorgan Chase (JPMorgan)—Ondo Perps is poised to play a significant role in the RWA derivatives market.
Users can view real-time quotes and market data for the Ondo Finance (ONDO) token on platforms such as Svmuu, CoinMarketCap, and CoinGecko to track its market performance and stay informed about related news.
