Ondo drops tokenized asset blockchain plans for private, high-speed trading network
The new network powers Ondo’s recently-launched perpetual futures platform and will eventually support trading across onchain financial assets.
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Summary
- Ondo Finance has abandoned plans for a traditional layer-1 blockchain and instead launched Ondo Network, a trading platform it says is better suited to institutional needs.
- The first application, Ondo Perps, will let users trade perpetual futures using tokenized assets as collateral, separating fast, private trade execution from settlement on public blockchains.
- The pivot comes as Ondo, already a major issuer of tokenized U.S. Treasuries and equities, moves to build broader trading infrastructure amid growing Wall Street interest in tokenization and 24/7 markets.
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Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
