Ondo Finance has integrated Chainlink as its official data oracle, enabling live price feeds for tokenized U.S. stocks on the Ethereum blockchain. The integration, announced on Wednesday, provides onchain pricing data for assets including SPYon (representing the SPDR S&P 500 ETF), QQQon (Invesco QQQ ETF), and TSLAon (Tesla stock).
The feeds are now being used on the Euler lending protocol, where users can post these tokenized equities as collateral to borrow stablecoins. This addresses a prior limitation where tokenized equities were largely held for price exposure but were not widely accepted as collateral in DeFi. The integration allows decentralized finance protocols to set collateral parameters and manage liquidations based on reference prices tied to the underlying equities.
The feeds incorporate corporate actions such as dividends, enabling applications to reference updated equity values. Risk parameters for the new lending markets, including collateral factors and liquidation thresholds, are being set and monitored by Sentora. Ondo and Chainlink aim to enable broader use of tokenized stocks in lending and other structured products by pairing exchange-linked liquidity with onchain price feeds.
This announcement follows an October 2025 partnership between Ondo Finance and Chainlink that designated Chainlink as the primary data provider for Ondo’s tokenized stocks and ETFs. Additional tokenized stocks and ETFs are expected to be added as oracle coverage and protocol integrations expand.
The launch occurs amidst a broader race to tokenize U.S. equities. In September, Nasdaq filed with the SEC for a rule change to enable listing and trading tokenized versions of publicly traded stocks. On December 11, the SEC issued a no-action letter allowing a Depository Trust & Clearing Corporation subsidiary to launch a tokenization service. On January 19, the New York Stock Exchange and Intercontinental Exchange announced they are developing a blockchain-based platform for trading tokenized stocks and ETFs.
On the crypto side, more than 60 tokenized U.S. stocks launched in June across exchanges Kraken and Bybit, developed by Backed Finance. Fintech Robinhood, which introduced tokenized versions of nearly 500 U.S. stocks for EU users in October, has launched a public testnet for its Ethereum layer-2 network, Robinhood Chain, built on Arbitrum, designed to support tokenized real-world assets.
