Ondo Perps has updated its platform to allow traders to use specific tokenized equities as collateral for leveraged positions without needing to sell them for stablecoins first. The expansion adds tokenized Circle ($CRCLon), SpaceX ($SPCXon), and SanDisk ($SNDKon) as eligible collateral assets on the platform.
This update allows investors to maintain market exposure to these equities while utilizing them to support perpetual futures trades. According to Ondo, the combination of spot assets and perpetual contracts enables hedging and basis strategies, such as holding a spot token and shorting its perpetual future to capture funding when rates are positive.
The growth of tokenized equities has accelerated, with the market reaching approximately $1.8 billion in capitalization by August and accounting for about 15% of the tracked real-world asset market. Ondo represented the largest slice of this sector at roughly $957 million on August 17.
Ondo states that its tokenized stocks and ETFs are backed by corresponding securities and cash in transit, with underlying holdings kept at US-registered broker-dealers or US-chartered national trust companies. An independent verification agent reviews the backing each business day.
Tokenized equities have increasingly found utility across decentralized finance. Earlier this year, Ondo integrated products like SPYon and QQQon into Morpho lending markets and Euler to serve as borrowing collateral, supported by Chainlink data feeds. Ondo Stocks currently offers over 440 tokenized stocks and ETFs across Ethereum, BNB Chain, and Solana, with the platform surpassing $1 billion in total value locked.
