Ondo's Tokenized US Equities Receive Chainlink Oracle Support on Ethereum Network
Ethereum now hosts operational price feeds for three Ondo-tokenized securities: SPYon, QQQon and TSLAon, enabling these digital equity tokens to serve as collateral within decentralized finance lending protocols.
Ondo Finance has announced that its Ondo Global Markets platform now features Chainlink integration as its designated data oracle provider, bringing live price feeds for tokenized American equities to Ethereum, including SPYon, QQQon and TSLAon.
A Wednesday announcement from Ondo revealed that these feeds have already been deployed on Euler, a platform where participants can now utilize the tokenized equity products as collateral for stablecoin borrowing purposes.
This integration delivers onchain pricing information for the tokenized securities, empowering decentralized finance (DeFi) platforms to establish collateral requirements and execute liquidations using reference prices connected to the underlying equity instruments. The data feeds account for corporate actions including dividends, which allows applications to access current equity valuations.
The initial rollout encompasses SPYon (tracking the SPDR S&P 500 ETF), QQQon (tracking the Invesco QQQ ETF) and TSLAon (tracking Tesla stock), with plans to incorporate more tokenized equities and exchange-traded funds (ETFs) as oracle infrastructure and protocol partnerships continue to grow.
The announcement states that Sentora is responsible for establishing and overseeing risk parameters for these newly created lending markets, which include collateral factors and liquidation thresholds.
According to Ondo, this development resolves a previous constraint affecting tokenized equities, which had predominantly been utilized for price exposure purposes but lacked widespread acceptance as collateral within DeFi ecosystems. Through the combination of exchange-connected liquidity and onchain pricing data, the collaborating entities seek to facilitate expanded utilization of tokenized equity products in lending operations and additional structured financial instruments.
This announcement comes after an October 2025 collaboration between Ondo Finance and Chainlink, a blockchain oracle network that debuted in 2017, which established Chainlink as the principal data source for Ondo's tokenized equity and ETF offerings.
Race to tokenize US equities
While US regulatory authorities work to polish the legal infrastructure surrounding tokenized securities, established financial entities and cryptocurrency platforms are intensifying their initiatives to migrate equities onto blockchain systems.
During September, Nasdaq submitted a rule modification request to the US Securities and Exchange Commission (SEC) seeking authorization to list and facilitate trading of tokenized representations of publicly traded equities, which could permit blockchain-based versions of listed securities to operate within its regulated marketplace infrastructure.
On Dec. 11, coinciding with its clarification regarding how broker-dealers might custody tokenized securities under current regulatory frameworks, the SEC granted a no-action letter permitting a Depository Trust & Clearing Corporation subsidiary to introduce a tokenization service for securities already maintained in DTC custody.
On Jan. 19, the New York Stock Exchange alongside its parent entity, Intercontinental Exchange, disclosed their development of a blockchain-powered platform designed for trading tokenized equities and ETFs featuring round-the-clock trading capabilities and near-instantaneous settlement, subject to regulatory clearance.
Within the cryptocurrency sector, more than 60 tokenized US equities debuted in June on exchanges Kraken and Bybit. This offering, created by Backed Finance through its xStocks label, delivers blockchain-enabled exposure to prominent companies, although it remains unavailable to customers in the United States.
Concurrently, fintech company Robinhood, which rolled out tokenized representations of approximately 500 US equities for European Union customers in October, has unveiled a public testnet for Robinhood Chain, an Ethereum layer-2 network constructed on Arbitrum.
On Wednesday, the firm announced that this network has been engineered to accommodate tokenized real-world and digital assets, featuring capabilities such as 24/7 trading, self-custody options and onchain lending and derivatives functionalities.