Ondo Perps CEO Eyes US Market Opportunity for Perpetual Futures

Ondo Perps, a platform offering leveraged trading on US equities and commodities, has been making waves in the crypto space. CEO David Wells sees significant opportunity for perpetual futures in the US market, but stopped short of confirming any plans to launch there.

The offshore platform, which launched its phased rollout earlier this year, has racked up impressive volume numbers from its non-US user base. By mid-August, Ondo Perps had surpassed $8 billion in cumulative trading volume - a steep adoption curve for a platform that only began early access in March 2023.

Ondo Finance and Oasis Pro recently sent letters to the SEC and CFTC arguing that cash-settled perpetual futures can fit within the existing US regulatory framework, no new legislation required. This could be a game-changer for the tokenization race, as Ondo's existing infrastructure provides a structural advantage.

The platform remains explicitly off-limits to US persons and users in certain other jurisdictions, with Ondo maintaining a compliance firewall from day one. The launch of spot trading for 12 tokenized stocks and ETFs, including NVDAon, TSLAon, and SPYon, has also been met with enthusiasm.