Ondo Finance launches tokenized asset perpetual trading platform after CFTC approval

Ondo Finance announced that it will launch Ondo Perps, a perpetual‑contracts platform that lets traders use tokenized real‑world assets such as stocks, exchange‑traded funds, commodities and precious metals as collateral. The service will offer up to 20‑times leverage and round‑the‑clock market access, initially to non‑U.S. users, with plans to expand globally. The rollout follows the U.S. Commodity Futures Trading Commission’s approval of the first domestic perpetual futures contract (Kalshi’s BTCPERP), creating a regulatory precedent for such products.

The new platform is part of a broader strategy announced by newly appointed CEO Ian De Bode, who took over after the sudden passing of founder Nathan Allman. Ondo Finance, which controls roughly 60 % of the tokenized equity market and holds about $3.5 billion in total value locked, also aims to develop additional services including trading, prime brokerage and on‑chain asset management.