In a move that further blurs the line between traditional prime brokerage and decentralized finance, Ondo Finance has successfully bridged a curated basket of tokenized US stocks and ETFs to Hyperliquid’s HyperEVM. By piping these assets from the BNB Chain using LayerZero’s messaging framework, Ondo is effectively turning blue-chip equities like NVIDIA and Tesla into high-velocity on-chain collateral.
Ondo tokenized stocks can now be bridged to Hyperliquid’s HyperEVM via @LayerZero_core.
Spot positions unlock advanced strategies for perp traders on applicable markets, such as basis trades and delta-neutral hedging.@Meltfinance and @felixprotocol are among the first HyperEVM… pic.twitter.com/fYqOcRV8k7
— Ondo Finance (@OndoFinance) May 11, 2026
The integration initially supports 35 blue-chip names, including heavy hitters such as NVDA, TSLA, GOOGL, NFLX, and BABA, along with major index trackers like SPY and QQQ. For the first time, these assets can be seamlessly combined with Hyperliquid’s native perpetuals and funding markets to execute sophisticated institutional-grade strategies.
Bridging Blue Chips to HyperEVM
This expansion leverages what Ondo previously characterized as the world’s largest live bridge dedicated to tokenized securities. By extending this architecture to the Hyperliquid ecosystem, Ondo provides a direct route for non-US traders to access the economic exposure of the American stock market.
The move comes as Ondo Global Markets cements its status as the dominant force in the RWA (Real-World Asset) sector. Since its launch in September 2025, the platform has seen its total value locked (TVL) in tokenized stocks and ETFs surpass $970 million, with cumulative trading volume nearing $18 billion. This growth represents over 60% of the entire tokenized-equity market, establishing Ondo as the primary liquidity provider for on-chain securities.
The core appeal of this integration lies in the complexity of trades it enables. By having tokenized spot stocks sit alongside high-liquidity perpetuals on HyperEVM, traders can engage in basis trades, funding-rate arbitrage, and delta-neutral positioning.
On HyperEVM, this calculation can now be executed and settled via smart contracts, allowing traders to harvest the difference between the tokenized stock’s spot price and the perpetual contract’s price. This effectively mimics the operations of a traditional prime brokerage desk, but with the transparency and 24/7 availability of a public ledger.
Rise of Indirect Tokenization
Ondo’s model utilizes “indirect tokenization,” a structure where offshore special purpose vehicles (SPVs) custody the underlying US securities with registered broker-dealers. While token holders do not hold legal title to the actual shares, they possess a claim against the issuer that transmits the economic risk and reward of the asset.
This structure has proven remarkably popular, with the aggregate TVL of tokenized stocks across all platforms exploding past $1.5 billion. On Hyperliquid specifically, the move slots into an existing ecosystem that includes Felix Protocol, which already hosts over 260 Ondo-powered assets. As the race for RWA dominance heats up, with competitors like Binance and MetaMask also entering the fray, Ondo’s move into Hyperliquid positions it at the intersection of equity markets and high-performance derivatives.
