Ondo Finance prepares RWA perpetual contracts platform as CFTC greenlights first US perp listing

Ondo Finance is preparing to launch Ondo Perps, a perpetual futures platform for tokenized real-world assets after the CFTC approved Kalshi’s BTCPERP on May 29, 2026. The platform will offer up to 20x leverage to non‑U.S. users on tokenized U.S. stocks, ETFs and commodities, and will allow tokenized securities to be posted as collateral and cross‑collateralized. Ondo currently controls roughly 60% of the tokenized equity market with about $3.5 billion TVL, positioning Ondo Perps to bridge traditional prime‑brokerage-like services and crypto perps. The move follows recent leadership change (Ian De Bode named CEO after Nathan Allman’s death) and is tempered by regulatory uncertainty, as the CFTC signaled a case‑by‑case approach to approving perps for new asset classes.