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RWA Regulation

Ondo Says US Securities Law Supports Stock Perpetuals Domestically

Ondo Finance, a tokenized real-world asset manager, stated that current US securities law can support stock-linked perpetual futures without new rules, under the existing securities-futures framework. On August 24, it filed three comment letters to the SEC and CFTC proposing to bring such products onshore, with modern margin mechanisms and on-chain market data. Its Panamanian affiliate already offers stablecoin-settled perpetuals on US stocks offshore, with cumulative trading volume of $8 billion in about six weeks as of August 14.

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AI take

This is a notable push to align offshore crypto-style perpetuals with existing US securities law, potentially bridging the gap between tokenized assets and regulated derivatives. The key claim is that no new rules are needed, which could reshape how equity exposure is offered on-chain if accepted. The immediate focus is on how the SEC and CFTC respond to the comment letters, as their stance will determine whether domestic stock perpetuals gain regulatory traction. The offshore volume cited underscores market demand, making the regulatory outcome a pivotal test for the sector's onshore expansion.

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