# Deploy Tokenized Gold and Silver as Productive Collateral Published: 2026-08-05T13:00:00.000Z Author: Ondo Perps URL: https://ondoperps.xyz/blog/tokenized-gold-silver-collateral Tokenized gold and silver can now be used as collateral for perpetual futures positions on equities, commodities, indices, and more. By providing GLDon or SLVon as margin, traders can use an existing spot position to support long or short perpetual futures across Ondo Perps. This includes perps on… --- Tokenized gold and silver can now be used as collateral for perpetual futures positions on equities, commodities, indices, and more. By providing GLDon or SLVon as margin, traders can use an existing spot position to support long or short perpetual futures across Ondo Perps. This includes perps on gold (XAU) and silver (XAG), along with markets on leading U.S. equities, indices, and commodities. Instead of leaving tokenized holdings idle, traders can now use them to hedge risk, express relative-value views, or deploy capital more efficiently. The launch expands the Ondo Stocks collateral, available with SPYon and QQQon already live on the platform. What is Ondo Perps? Ondo Perps is a platform for peer-to-peer perpetual futures transactions available to eligible traders outside the United States. Traders can go long or short with up to 20x leverage across oil (WTI), gold (XAU), silver (XAG), leading U.S. equities, the US100 and US500 indices, and DRAM. Current equity perps markets include AAPL, AMD, AMZN, COIN, CRCL, GOOGL, HOOD, INTC, META, MSFT, MSTR, NFLX, NVDA, ORCL, PLTR, and TSLA, with more markets to come. Ondo Perps is built using technology developed by Ondo Finance and is designed for deep liquidity, tight spreads, minimal slippage, and execution speeds comparable to leading centralized exchanges. Why Tokenized Stock Collateral Matters Perpetual futures are one of crypto’s most important market innovations. They made leveraged trading continuous, globally accessible, and operationally simple. But most other RWA perps venues have applied the existing crypto model to a new asset class without changing the underlying market structure. An oracle price is introduced, a market is listed, and liquidity is supported using stablecoin collateral. That model proved that traders want always-on exposure to equities, commodities, and indices. However, it also created a structural disconnect between the perp venue and the traditional markets where the deepest liquidity sits. For example, a market maker quoting and running a delta-neutral strategy typically has to post stablecoins as collateral while separately maintaining the asset, cash, or hedge at a traditional brokerage, leaving capital split across different venues, settlement systems, and operating hours. The market maker must fund both sides of the structure, move collateral between systems, and manage the risk that the perp position and hedge in the traditional venue cannot be adjusted at the same time. Tokenized collateral changes that equation. A market maker holding GLDon can use the asset as the economic hedge for a short gold (XAU) perp position while also posting it as collateral on Ondo Perps. The same applies to SLVon and a short silver (XAG) perp position. Instead of maintaining one pool of stablecoin margin on the perps platform and a separate pool of inventory elsewhere, the tokenized asset can serve both functions inside the same system. The holding becomes productive collateral, preserving spot exposure while supporting a perps trading strategy. How Tokenized Stock Collateral Unlocks The Basis Trade for Perps Platforms A basis trade seeks to capture the difference between spot and perpetual prices, often together with the funding payments exchanged between long and short positions. A trader may, for example, hold spot gold exposure while shorting a gold (XAU) perp when the perp trades above spot or when demand for leveraged long exposure produces attractive funding for shorts. GLDon makes that structure more capital efficient. The trader can hold GLDon as the long spot leg, post it as collateral, and open a short gold (XAU) perp as the offsetting leg. Similarly, a trader can pair SLVon with a short silver (XAG) perp. Because the long and short exposures largely offset one another, the strategy is designed to reduce directional market exposure and isolate the basis, funding, or relative movement between the two legs. On a stablecoin-only venue, the trader would generally need capital for the spot position plus a separate pool of stablecoins to margin the perp. With tokenized asset collateral, the spot leg can also support the derivatives leg. This reduces duplicated capital and removes much of the operational burden of maintaining positions across a perps venue and a traditional brokerage. The trade is not risk-free. Funding can reverse, the basis can widen, collateral values can fall, and tracking differences, fees, haircuts, or liquidation thresholds can affect returns. But integrating the spot asset directly into the collateral system makes the strategy materially simpler and more capital efficient to execute. This Is Just the Start Adding GLDon and SLVon alongside SPYon and QQQon as Tokenized Stock Collateral is just one more step toward a broader onchain prime brokerage model that Ondo is building. Over time, a broader collateral set can support a unified, always-on prime brokerage layer for global markets.