Ondo brings tokenized US stocks to Hyperliquid’s HyperEVM
Ondo pipes tokenized US shares from $BNB to HyperEVM, turning blue‑chip equities into on‑chain collateral for foundation, arb and delta‑impartial methods.
Ondo Finance has deepened its tokenization push by routing U.S. inventory and ETF publicity from $BNB Chain into Hyperliquid’s HyperEVM, utilizing a cross‑chain bridge constructed on LayerZero’s messaging framework. The brand new connection brings 35 tokenized belongings — together with SPY, QQQ, NVDA, TSLA, GOOGL, NFLX and BABA — onto HyperEVM, the place they are often mixed with perps and on‑chain funding markets for foundation trades, funding‑price arbitrage and delta‑impartial positioning.
Tokenized equities meet HyperEVM liquidity
The bridge builds on Ondo’s current LayerZero integration, which it beforehand described as “the biggest dwell bridge devoted to tokenized securities” by supported belongings, and extends that structure past Ethereum and $BNB Chain into the Hyperliquid ecosystem. Ondo’s mannequin depends on offshore particular function automobiles that purchase and custody underlying U.S. securities with registered dealer‑sellers, then challenge on‑chain notes that transmit financial threat, a construction {that a} latest market explainer categorized as “oblique tokenization” as a result of token holders have claims towards the issuer somewhat than authorized title to the shares themselves.
Since Ondo World Markets went dwell in September 2025, the platform has scaled quickly, with whole worth locked in tokenized shares and ETFs surpassing $970 million and cumulative buying and selling quantity closing in on $18 billion, cementing its standing as the biggest tokenized securities venue globally. A March replace highlighted that tokenized shares alone accounted for greater than $700 million of that TVL and over 60% of your complete tokenized‑fairness market, whereas a separate investor replace in January mentioned Ondo had grow to be “the #1 largest issuer for each tokenized treasuries and shares,” with greater than $2.5 billion in mixed TVL throughout merchandise.
For Hyperliquid and its customers, the Ondo bridge broadens the out there collateral and technique set on HyperEVM, which already hosts Felix Protocol’s providing of greater than 260 Ondo‑powered tokenized shares and ETFs. Felix, initially a lending platform, now ranks among the many prime DeFi purposes on Hyperliquid’s L1 with roughly $167 million in TVL, and a latest market overview famous that tokenized shares throughout platforms have exploded previous $1.5 billion in mixture TVL as non‑U.S. merchants search on‑chain routes into U.S. fairness markets.
The transfer additionally slots right into a broader race amongst issuers and venues to dominate actual‑world asset liquidity, with Ondo already powering tokenized inventory entry on venues corresponding to Binance’s relaunched tokenized inventory enterprise and MetaMask’s integration of tokenized U.S. shares and ETFs. By wiring tokenized blue chips into HyperEVM’s derivatives rails, Ondo and Hyperliquid are successfully turning on‑chain equities into constructing blocks for a similar type of advanced, levered foundation and volatility trades which have lengthy outlined conventional prime brokerage desks — solely this time, they dwell in public sensible contracts as an alternative of proprietary financial institution stacks.
