Ondo Unveils Capital-Efficient Perpetual Futures Platform with 20x Leverage

Ondo Perps, a perpetual futures platform, enables non-U.S. users to trade U.S. stocks, ETFs, and commodities with up to 20x leverage using tokenized securities as collateral according to AInvest.

The platform partners with MetaMask to enable real-time on-chain trading, addressing inefficiencies in capital and liquidity fragmentation.

Ondo's expanding real-world asset (RWA) infrastructure includes tokenized U.S. Treasuries with $2.5 billion in TVL and collaborations with major crypto wallets like Blockchain.com and MetaMask as reported.

Ondo Perps is a capital-efficient perpetual futures platform that allows traders to use tokenized securities as collateral, not just stablecoins. It offers 24/7 trading of major U.S. stocks, ETFs, and commodities with up to 20x leverage. This addresses inefficiencies in liquidity and capital fragmentation in the market. The platform eliminates the need for duplicated reserves, enabling more efficient capital deployment as detailed by CoinDesk.

The platform supports cross-collateralization and leverages institutional-grade liquidity through Ondo Global Markets according to CoinDesk. Key features include real-time risk controls, 24/7 trading, and support for major U.S. equities like Apple, AMD, and Amazon as noted.

Ondo Perps is the first capital-efficient platform offering perpetual futures for U.S. stocks, ETFs, and commodities, with 20x leverage and 24/7 trading according to Bitget. It uses tokenized securities as collateral and supports cross-collateralization as reported. The platform aims to solve inefficiencies such as fragmented capital and shallow liquidity that have hindered widespread adoption of on-chain derivatives according to CoinDesk.

Ondo Launches Perpetual Futures Platform with 20x Leverage?

Ondo Perps allows non-U.S. users to trade U.S. stocks, ETFs, and commodities with up to 20x leverage using tokenized securities as collateral as detailed. This perpetual futures platform provides 24/7 access and aims to solve issues like fragmented capital and shallow liquidity by using cross-collateralization and institutional-grade liquidity according to AInvest.

Ondo Perps was launched during the Ondo Summit on February 3, 2026 as reported. It includes support for major equities like AAPL, AMD, and ETFs like QQQ, as well as commodities like gold and silver according to Bitget. The platform builds on Ondo's existing infrastructure and momentum in tokenized assets as noted.

Ondo Perps aims to address inefficiencies such as fragmented capital and shallow liquidity that have hindered widespread adoption of on-chain derivatives according to CoinDesk. The platform builds on Ondo's existing infrastructure and momentum in tokenized assets, including USDY, a tokenized U.S. Treasury product with over $2.5 billion in TVL as reported.

How Does Ondo Perps Integrate Tokenized Securities and MetaMask?

Ondo Perps is a perpetual futures platform that enables real-time on-chain trading through a mobile app in collaboration with MetaMask. The platform allows eligible users in supported non-U.S. jurisdictions to buy, hold, and trade over 200 tokenized U.S. securities directly within their MetaMask wallet according to Yahoo Finance.

Users can access Ondo Global Markets through MetaMask Swaps, acquiring blockchain-based Global Markets (GM) tokens using USD Coin (USDC) on the Ethereum mainnet. These GM tokens track the market value of their underlying securities and are transferable around the clock as reported.

The integration supports a growing trend in tokenized real-world assets (RWAs) and represents a shift toward unifying crypto and traditional finance in a single interface according to Yahoo Finance. The tokenized RWA market now exceeds $23 billion, with tokenized commodities like gold and silver valued at $4.56 billion according to KuCoin.

MetaMask's integration of tokenized U.S. stocks, ETFs, and commodities via Ondo Finance aligns with evolving global crypto policy trends. The integration allows users to access over 200 tokenized U.S. securities through Ondo Global Markets as detailed.

What Institutional and Retail Implications Arise from Ondo's Expanding RWA Infrastructure?

Ondo's Global Markets platform has $600 million in TVL for tokenized stocks and ETFs, giving it about 60% market share in that niche according to AInvest. The firm is also a leading issuer of tokenized U.S. Treasuries, with over $2 billion in TVL as reported. Ondo's strategy focuses on building scalable infrastructure before monetizing according to AInvest.

21Shares filed the first U.S. ETF application tracking tokenized real-world assets with the SEC, targeting a $100 billion+ on-chain Treasury market according to Yahoo Finance. The ONDO ETF would provide institutional investors with regulated exposure to tokenized Treasuries via a familiar ETF structure, with Coinbase Custody as the custodian as noted.

The key catalyst for the ETF is SEC approval, which would validate the RWA stack and unlock institutional flow according to Yahoo Finance. However, risks include crypto volatility and regulatory delays as reported. The success of the ETF depends on the growth of the tokenized U.S. Treasury market, which already represents 45% of the RWA market at over $8.7 billion in value according to Yahoo Finance.

Ondo's expanding RWA infrastructure includes tokenized U.S. Treasuries with $2.5 billion in TVL and collaborations with major crypto wallets like Blockchain.com and MetaMask as detailed. The expansion into Europe provides users with self-custody solutions for institutional-grade assets, reducing reliance on traditional brokerage accounts according to KuCoin.

Ondo is also leveraging tokenized assets to build infrastructure for on-chain prime brokerage, aiming to integrate traditional finance with blockchain-based trading and custody solutions according to AInvest. The platform introduces perpetual futures on equities and commodities, using tokenized stocks and ETFs as collateral to attract sophisticated traders and deepen liquidity as reported.

Retail adoption is growing globally, especially in Asia, with net inflows on nearly all days since launching according to AInvest. Ondo plans to expand toward on-chain prime brokerage services by partnering with centralized exchanges and wallets to integrate tokenized traditional assets into crypto trading workflows as noted.