Ondo Finance said its Ondo Global Markets platform has integrated Chainlink as its official data oracle, enabling price feeds for tokenized US stocks including SPYon, QQQon and TSLAon to go live on Ethereum.
According to a post from Ondo on Wednesday, the feeds are now being used on Euler, where users can post the tokenized equities as collateral to borrow stablecoins.
The integration provides onchain pricing data for the tokenized assets, allowing decentralized finance (DeFi) protocols to set collateral parameters and manage liquidations based on reference prices tied to the underlying equities. The feeds incorporate corporate actions such as dividends, enabling applications to reference updated equity values.
Initial support covers SPYon (which represents 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 coverage and protocol integrations are expanded.
According to the announcement, risk parameters for the new lending markets, including collateral factors and liquidation thresholds, are being set and monitored by Sentora.
Ondo said the move addresses a prior limitation for tokenized equities, which had largely been held for price exposure but were not widely accepted as collateral in DeFi. By pairing exchange-linked liquidity with onchain price feeds, the companies aim to enable broader use of tokenized stocks in lending and other structured products.
The announcement follows an October 2025 partnership between Ondo Finance and Chainlink, a blockchain oracle network launched in 2017, that designated Chainlink as the primary data provider for Ondo’s tokenized stocks and ETFs.
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Race to tokenize US equities
As US regulators continue to refine the legal framework for tokenized securities, legacy financial institutions and crypto platforms are accelerating efforts to put equities on blockchain infrastructure.
In September, Nasdaq filed for a rule change with US Securities and Exchange Commission (SEC) that would enable it to list and trade tokenized versions of publicly traded stocks, potentially allowing blockchain-based representations of listed shares to trade within its regulated exchange framework.
On Dec. 11, the same day it clarifyied how broker-dealers may custody tokenized securities under existing rules, the SEC issued a no-action letter allowing a Depository Trust & Clearing Corporation subsidiary to launch a tokenization service for securities already held in DTC custody.
On Jan. 19, the New York Stock Exchange and its parent company, Intercontinental Exchange, said they are developing a blockchain-based platform for trading tokenized stocks and ETFs with 24/7 trading and near-instant settlement, pending regulatory approval.
On the crypto side, more than 60 tokenized US stocks launched in June across exchanges Kraken and Bybit. The product, developed by Backed Finance under its xStocks brand, provides blockchain-based exposure to blue-chip companies, though it is not yet available to US customers.
Meanwhile, fintech Robinhood, which introduced tokenized versions of nearly 500 US stocks for EU users in October, has launched a public testnet for Robinhood Chain, an Ethereum layer-2 network built on Arbitrum.
On Wednesday, the company said the network is designed to support tokenized real-world and digital assets, including 24/7 trading, self-custody and onchain lending and derivatives applications.
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