Updated Jul 8, 2026
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Ondo Perps opens equity perpetuals to non-U.S. investors with up to 20x leverage on tokenized stock collateral

NEW YORK, July 8. Up to 20x leverage on U.S. equity derivatives, backed by tokenized stock collateral, is now live for non-U.S. investors through a platform called Ondo Perps. The company said the product is the first to enable tokenized equities to serve as collateral for perpetual futures contracts.

By Owen Gallagher2 min read
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NEW YORK, July 8. Up to 20x leverage on U.S. equity derivatives, backed by tokenized stock collateral, is now live for non-U.S. investors through a platform called Ondo Perps. The company said the product is the first to enable tokenized equities to serve as collateral for perpetual futures contracts.

A first for tokenized equity collateral

Perpetual futures contracts carry no expiry date. A position stays open until the holder closes it or is forced out through a liquidation event. The contract type has been the dominant derivatives format in crypto markets for years. What is new on Ondo Perps is the collateral: tokenized representations of U.S. stocks, rather than cash or stablecoins, back the positions.

That distinction shapes the platform's design. A non-U.S. investor holding tokenized U.S. equity can deploy those holdings as margin for leveraged exposure to the same assets, according to the company. The collateral and the underlying market are the same segment.

Continuous access and leverage ceiling

The platform runs around the clock, according to Ondo Perps, bringing derivatives infrastructure to U.S. stocks and indices outside the fixed sessions of American exchanges. The release described the focus as the most in-demand U.S. assets for a global investor base.

Leverage caps at 20x. The release gave no per-asset breakdown of how that ceiling applies across individual stocks versus indices listed on the platform.

Who can trade

Ondo Perps is live now for non-U.S. investors, the company said. The release disclosed no timeline for any access expansion to U.S. participants, and no conditions for such a change were described.

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Key takeaways

Frequently asked

What makes Ondo Perps different from other perpetual futures platforms?

It is described as the first product to enable tokenized representations of U.S. stocks, rather than cash or stablecoins, to serve as collateral for perpetual futures contracts.

Who can currently trade on Ondo Perps?

The platform is live now for non-U.S. investors, with no timeline or conditions disclosed for any future expansion to U.S. participants.

How much leverage can traders use?

Leverage caps at 20x, though the release gave no per-asset breakdown of how that ceiling applies across individual stocks versus indices.

When can trades be placed on the platform?

Ondo Perps runs around the clock, allowing trading of U.S. stocks and indices outside the fixed sessions of American exchanges.

What are perpetual futures contracts?

They are derivatives contracts with no expiry date, where a position stays open until the holder closes it or is forced out through a liquidation event.