Ondo Seeks Onshore Status for US Perpetual Futures
Ondo Finance is urging US regulators to bring perpetual futures tied to individual stocks onshore. The company argues that these products can already fit within the country's existing 'security futures' framework, rather than requiring new rulemaking.
In comment letters submitted to both the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), Ondo Finance said that perpetual stock exposure can be structured to account for modern margining practices and the realities of onchain trading.
The proposal targets a persistent question for tokenized markets: whether crypto-linked perpetual instruments, without a traditional fixed expiration date, can still be treated as security futures products under current US definitions. Ondo's filing also points to offshore activity as evidence that the market model is already functioning.