CEO Ian De Bode says the company will not run the new execution layer and the earlier Ondo Chain in parallel, and that the network 'isn't a blockchain today.'

Ondo, Backed Finance, and Robinhood Chain all set all-time highs in tokenized equity holdings this week, while dYdX's new Arcus exchange posted record perps volume — signs the market for onchain stocks is scaling on multiple fronts at once.

Ondo Stocks holders can now back perpetual futures positions with SPYon and QQQon, subject to an initial $100,000 per-asset notional cap.

The deal routes distribution through SBI's ecosystem and settles in the group's JPYSC yen stablecoin, connecting Japan's capital markets to onchain finance.

Ondo Finance has enabled around-the-clock minting and redemption for tokenized US stocks and ETFs on Ethereum and BNB Chain, removing the weekday-only constraint that had tied position creation and cancellation to US market hours.

Ondo Finance expanded Ondo Global Markets with 173 new tokenized stocks and ETFs on Tuesday, lifting the platform's total catalog past 430 assets on Ethereum, Solana, and BNB Chain. The batch brings AI, robotics, quantum, defense tech, critical materials, and data center energy names onchain alongside BlackRock active ETFs and covered call strategies.

Tokenized ETFs have crossed $430 million in total onchain market cap, with Ondo Finance's IVVon token surging 150% in the past month on Ethereum.

A four-firm pilot settling the first cross-border, cross-bank redemption of tokenized U.S. Treasuries on the XRP Ledger extended a rally sparked by Ondo's seat at the DTCC’s tokenization table.

The partnership lets holders of tokenized equity and ETFs participate in proxy voting and access other governance features.

On-chain traders on Hyperliquid can now trade over 250 tokenized U.S. equities.