Ondo Finance said its Ondo Global Markets platform has integrated Chainlink as its official data oracle, allowing it to publish price feeds for tokenized US stocks on Ethereum, including SPYon, QQQon, and TSLAon.
According to an Ondo post on Wednesday, the feed is currently being used by Euler, where users can post tokenized stocks as collateral to borrow stablecoins.
This integration provides on-chain price data for tokenized assets, allowing decentralized finance (DeFi) protocols to set collateral parameters and manage liquidations based on reference prices associated with the underlying assets. The feed incorporates company activity such as dividends and allows applications to see the latest stock values.
Initial support covers SPYon (representing the SPDR S&P 500 ETF), QQQon (representing the Invesco QQQ ETF), and TSLAon (Tesla stock), with additional tokenized stocks and exchange-traded funds (ETFs) expected to be added as Oracle’s coverage and protocol integration expands.
The risk parameters for the new loan market, including collateral elements and clearing criteria, are being set and monitored by Centra, according to the announcement.
Ondo said the measure addresses previous restrictions on tokenized stocks, which were primarily held for price exposure but were not widely accepted as DeFi collateral. The companies aim to make tokenized stocks more widely available in lending and other structured products by combining exchange-linked liquidity with on-chain price feeds.
This announcement follows Ondo Finance’s October 2025 partnership with Chainlink, a blockchain oracle network launched in 2017, which designated Chainlink as the primary data provider for Ondo’s tokenized stocks and ETFs.
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US stock tokenization race
As US regulators continue to refine the legal framework for tokenized securities, traditional financial institutions and crypto platforms are accelerating efforts to put stocks on blockchain infrastructure.
Nasdaq filed a rule change with the U.S. Securities and Exchange Commission (SEC) in September that would allow for the listing and trading of tokenized versions of listed stocks, potentially allowing blockchain-based representations of listed stocks to be traded within the framework of a regulated exchange.
On December 11, the same day that it clarified how broker-dealers should store tokenized securities under existing rules, the SEC issued a no-action letter allowing a subsidiary of the Depository Trust & Clearing Corporation to begin tokenization services for securities already in DTC custody.
On January 19, the New York Stock Exchange and its parent company, Intercontinental Exchange, announced that it is developing a blockchain-based platform for trading tokenized stocks and ETFs with 24/7 trading and near-instant settlement, pending regulatory approval.
On the cryptocurrency front, more than 60 tokenized US stocks were launched on the Kraken and Bybit exchanges in June. The product, developed by Backed Finance under the xStocks brand, provides blockchain-based exposure to blue-chip companies, but is not yet available to U.S. customers.
Meanwhile, fintech Robinhood, which introduced tokenized versions of around 500 US stocks for EU users in October, has launched a public testnet for Robinhood Chain, an Ethereum Layer 2 network built on Arbitrum.
The company announced Wednesday that the network is designed to support tokenized real-world and digital assets, including 24/7 trading, self-custody, on-chain lending and derivatives applications.
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