TLDR
- ONDO Finance launched ONDO Network as the next stage of its real-world asset strategy.
- The company replaced its original ONDO Chain plan with a faster, execution-focused network.
- ONDO Network uses secure enclaves to protect order flow, positions, and counterparty details.
- Public blockchains will still record final transfers to support transparent settlement.
- ONDO Perps is the first live application built on the new network infrastructure.
ONDO Finance has launched ONDO Network as the next stage of its real-world asset strategy. The company will not operate ONDO Chain as a separate layer-1 blockchain. The change followed discussions with institutions and trading platforms, which wanted faster and more private trade execution.
ONDO Chain was announced in February 2025 as an institution-focused blockchain for tokenized financial assets. It later reached testnet, where JPMorgan’s Kinexys and Chainlink completed a tokenized US Treasury transaction. CEO Ian De Bode called the new direction an evolution and confirmed that both systems would not run together.
Secure Enclaves Handle Private Execution
ONDO Network processes trades inside Trusted Execution Environments, which the company calls enclaves. These protected hardware systems run code without exposing orders, positions, or counterparty information. A decentralized group of attestors approves the code used inside each enclave.
The system also splits signing keys among several operators, preventing one party from moving user assets alone. After trades are matched and approved, public blockchains record the final transfers. This structure keeps settlement open for review while protecting sensitive trading data during execution.
ONDO Finance has not named the operators or disclosed how many parties manage the system. It has also not stated when those details may become public. The current model therefore gives selected participants more control than a permissionless blockchain.
ONDO Perps Leads Wider Network Strategy
ONDO Perps is the first application operating on ONDO Network. It supports round-the-clock perpetual futures trading linked to tokenized equities and commodities. The product gives the company a live market for testing its execution model and serves as the network’s first commercial service.
By using existing public blockchains for settlement, ONDO Finance avoids the work required to launch and maintain a full validator network. The company can instead focus on execution speed, privacy, and product delivery across its real-world asset services.
ONDO Finance said it may add more operators, record more activity on public blockchains, and require participants to post tokens as collateral. It has not provided a timeline for those changes. ONDO Network will also support Oasis Pro Markets, tokenized equity products, DTCC Tokenization Service integration, and work with Japan’s SBI Group as the company expands its institutional market infrastructure.
