Ondo Finance, a blockchain-based financial services firm, has announced its ambitious vision to build a full on-chain prime brokerage service, with the launch of its Ondo Perps platform as the first critical step. The company revealed these plans at the 2025 Ondo Summit, highlighting 2025 as a breakout year for its tokenization efforts.
Ondo has established itself as a dominant player in the tokenized asset space. The firm now holds over $2 billion in tokenized U.S. Treasuries and its Global Markets platform for tokenized stocks and ETFs has reached approximately $600 million in Total Value Locked (TVL). This equates to an estimated 60% market share in tokenized equities, making it a clear leader in the sector.
The newly announced Ondo Perps platform is designed for trading perpetual futures tied to U.S. stocks, ETFs, and commodities. A key differentiating feature is that it will allow traders to use tokenized assets themselves—not just stablecoins—as collateral. This innovation aims to increase capital efficiency, attract professional market makers, and enhance liquidity for these on-chain derivatives.
President Ian de Bode stated that the company's focus has shifted from building one-off products to creating the foundational infrastructure institutions will require as they move assets on-chain. The envisioned prime brokerage stack would cover everything from trade execution and custody to financing and collateral management, all operating 24/7 with real-time settlement.
Global retail adoption is accelerating, particularly in Asia, driven by integrations with major platforms like Binance Wallet and MetaMask. Ondo reported net inflows on its tokenized stocks platform nearly every day since its September launch. The firm has also become the largest issuer of tokenized U.S. stocks and ETFs on the Solana blockchain by asset count, with over 200 listings.
To support its long-term vision, Ondo is actively partnering with traditional finance giants, including JPMorgan and Mastercard, to bridge blockchain systems with existing financial networks. The company has also submitted a roadmap to the U.S. Securities and Exchange Commission (SEC) seeking clearer regulatory guidance for tokenized securities, underscoring the importance of regulation for institutional adoption.
