Ondo Pipe tokenized US shares $BNB Migrate to HyperEVM and switch blue chip shares into on-chain collateral for foundation, ARB, and delta impartial methods.
Ondo Finance has strengthened its tokenization drive by routing its US fairness and ETF publicity out of the US. $BNB Chain to Hyperliquid’s HyperEVM utilizing a cross-chain bridge constructed on LayerZero’s messaging framework. The brand new connection brings 35 tokenized property, together with SPY, QQQ, NVDA, TSLA, GOOGL, NFLX, and BABA, to HyperEVM and will be mixed with Purp and on-chain funding markets for foundation buying and selling, funding price arbitrage, and delta-neutral positioning.
Tokenized shares fill HyperEVM’s liquidity
The bridge builds on Ondo’s present LayerZero integration, which was beforehand described by Supported Property as “the biggest dwell bridge devoted to tokenized securities,” and its structure extends past Ethereum and Ethereum. $BNB Chain to the Hyperliquid ecosystem. Ondo’s mannequin depends on an offshore particular goal automobile that purchases and shops the underlying U.S. securities at a registered broker-dealer and points on-chain notes that convey financial threat. Current market commentators have labeled this construction “oblique tokenization” as a result of token holders have a declare towards the issuer reasonably than authorized possession of the shares themselves.
Since Ondo International Markets went dwell in September 2025, the platform has quickly expanded, with greater than $970 million in whole worth locked in tokenized shares and ETFs and near $18 billion in cumulative buying and selling quantity, solidifying its place because the world’s largest tokenized inventory change. A March replace highlighted that tokenized equities alone accounted for over $700 million in TVL, or over 60% of the overall tokenized fairness market, and one other investor replace in January stated Ondo had turn out to be the “largest issuer of each tokenized authorities bonds and equities,” with whole TVL throughout merchandise exceeding $2.5 billion.
For Hyperliquid and its customers, Ondo Bridge expands the collateral and technique set out there on HyperEVM. HyperEVM already hosts over 260 Ondo-powered tokenized shares and ETFs powered by Felix Protocol. Initially a lending platform, Felix now ranks as the highest DeFi software on Hyperliquid’s L1 with a TVL of roughly $167 million, and a current market overview notes that tokenized shares throughout the platform have exploded to over $1.5 billion in whole TVL as non-US merchants search on-chain routes to the US inventory market.
The transfer additionally comes inside a broader race between issuers and exchanges to manage the liquidity of real-world property, with Ondo already ramping up tokenized inventory entry on exchanges equivalent to Binance’s relaunched tokenized inventory enterprise and MetaMask’s tokenized U.S. inventory and ETF integration. By connecting tokenized blue chip chips to HyperEVM’s derivatives rails, Ondo and Hyperliquid are successfully turning on-chain equities into constructing blocks for a similar type of complicated, leveraged foundation and volatility buying and selling that has lengthy outlined conventional prime brokerage desks. Solely this time, they reside in a public sensible contract reasonably than a proprietary financial institution stack.
