Ondo Perps CEO David Wells identified the United States as a significant opportunity for perpetual futures trading but did not confirm plans to launch the platform there. The offshore venue, operated by Ondo Global Panama Inc., offers round-the-clock leveraged exposure to US equities, ETFs, indices and commodities, with leverage of up to 20x and tokenized securities and stablecoins accepted as collateral. Cumulative trading volume exceeded $8 billion by mid-August after early access began in March 2026, public beta opened in June and full features launched in July. Ondo Finance and Oasis Pro have asked the SEC (U.S. securities regulator) and CFTC (U.S. derivatives regulator) to recognize cash-settled perpetual futures under existing US law without new legislation. The platform remains unavailable to US persons and users in certain other jurisdictions. On September 28, it added spot trading for 12 tokenized stocks and ETFs, including NVDAon, TSLAon and SPYon, while waiving trading fees for 30 days. Its tokenized-securities infrastructure allows traders to use tokenized assets as margin, linking spot holdings with leveraged positions.