Key Takeaways:
Ondo Finance launched tokenized stock collateral on Ondo Perps, letting Pre-Alpha users post SPYon and QQQon equities as margin for leveraged perpetuals.
The feature is backed by the Depository Trust & Clearing Corp., positioning tokenized equities as a new collateral class in decentralized finance, Ondo Finance said.
ONDO rose 16% to $0.37, with trading volume climbing to $289.6 million from about $54 million, CoinGecko data shows. The tokenized stock collateral feature allows traders to use SPYon and QQQon — tokenized versions of the SPDR S&P 500 ETF and Invesco QQQ Trust — as margin for leveraged perpetual positions on Ondo Perps.
The move marks a step toward convergence of traditional finance collateral and crypto leverage, potentially attracting more institutional capital into DeFi. Ondo Finance, which tokenizes short-term US Treasuries offering on-chain yield, is building at the intersection of real-world assets and decentralized trading infrastructure.
The launch comes as the real-world asset tokenization sector gains momentum, with major asset managers including BlackRock exploring on-chain fund products. Ondo Finance's tokenized Treasury product, which offers yield from short-term US government debt, has been among the more prominent RWA protocols on Ethereum.
By accepting tokenized equities as collateral, Ondo Perps creates a direct bridge between traditional securities markets and crypto derivatives trading. The SPYon and QQQon tokens represent tokenized claims on two of the most heavily traded US exchange-traded funds, giving traders exposure to equity market collateral without leaving the DeFi ecosystem.
This article is for informational purposes only and does not constitute investment advice.
