Ondo says traders can now post tokenized stocks as collateral on its perps platform

Ondo Finance says its perpetual-futures venue, Ondo Perps, now lets users put up tokenized stocks as collateral to trade — a first, by the company's own account. The claim comes from an Ondo post dated Tuesday, reported by The Block on July 7.

The feature is live for "pre-alpha" users. According to Ondo, traders can post tokenized equities as margin to trade perpetual futures tied to commodities such as oil and gold, plus single-stock perps including Apple and Tesla, at up to 20x leverage. Access is restricted: the 24/7 service is offered to traders outside the U.S., Panama, and other unnamed "prohibited jurisdictions." Ondo is dangling $150,000 of USDC in rewards for first-week trading activity.

The pitch, in Ondo's framing, is that tokenized stocks stop being static on-chain assets and become usable collateral. "RWA perps can now trade on a platform built to deliver liquidity and capital efficiency on par with traditional derivatives exchanges," the firm said. Ondo President Ian De Bode added that the setup is "quite frankly, far better than what a traditional brokerage account can offer." Both statements are Ondo's; neither is independently verified.

The move builds on prior expansion. The Block reports that Ondo last year launched 24/7 on-chain access to 100-plus U.S. stocks and ETFs for eligible investors across Asia-Pacific, Europe, Africa, and Latin America, and that days before this announcement it added tokenized versions of BlackRock's iShares Core S&P 500 ETF (IVV) and Micron (MU) under a third-party custodial framework the SEC outlined in January. The Block frames the perps push as a bid to stand out against rivals Ostium and Hyperliquid.

Key facts

• Ondo Perps now accepts tokenized stocks as collateral for pre-alpha users — Ondo post (Tuesday), via The Block, July 7.
• Perps cover commodities (oil, gold) and single stocks (Apple, Tesla), up to 20x leverage — The Block.
• 24/7, available outside the U.S., Panama, and other prohibited jurisdictions — Ondo, via The Block.
• $150,000 USDC in first-week trading rewards — Ondo, via The Block.
• Recently added tokenized IVV and MU under the SEC's January third-party custodial framework — The Block.

The real-world read

Nearly every concrete claim here traces to Ondo itself — the "first to allow," the "capital efficiency on par with" traditional venues, the brokerage-beating experience. That's an interested party marketing its own product, and The Block, while reporting it straight, is relaying Ondo's post rather than independently confirming the mechanics or the "first" claim. Treat the superlatives accordingly. Worth noting what's unsaid: how tokenized-stock collateral is valued or margined during volatility, what happens to that collateral in a liquidation, who the custodians and counterparties are, and any liquidity on a "pre-alpha" book. The $150,000 reward is a launch incentive to bootstrap volume — standard, but it means early activity figures won't reflect organic demand. Leverage up to 20x on thinly tested infrastructure is not a detail to gloss over.

This is not financial advice.

Sources

• The Block (RT Watson), July 7, 2026 — reported the announcement and Ondo's prior expansion; the piece relays Ondo's own post and quotes, so all product claims and superlatives are Ondo's, not independently verified. The Block discloses Foresight Ventures as majority investor.