Ondo launches execution layer Ondo Network

Ondo Finance has launched the Ondo Network, a new execution layer that separates trade execution from settlement. The company said the design aims to deliver centralized-exchange speed while keeping trading non-custodial and settling on public blockchains. CEO Ian De Bode described the network as an evolution of the earlier Ondo Chain and said the two will not run in parallel.

Ondo began as a project to build a full blockchain to bring real-world assets onchain. During development of its Ondo Perps product and discussions with clients, the firm concluded that execution, rather than settlement, was the main bottleneck for high-performance markets. Traditional blockchains perform execution, verification and settlement on the same ledger, which can increase latency and expose trading details.

The Ondo Network moves execution off the settlement ledger while keeping users in control of their assets. Its architecture uses secure hardware enclaves to run approved code, and a decentralized set of attestors that verify which code the enclaves may execute. Asset transfers currently settle on Ethereum; Ondo plans to add support for other public blockchains and to commit settled state to public chains to create a durable, immutable record.

Ondo Perps is the first application built on the new layer. The platform offers 24/7 perpetual futures tied to equities and commodities and accepts tokenized real-world assets as collateral. Ondo said the network is general-purpose and could support spot markets, lending, structured products and non-financial applications that require fast, private and verifiable execution.

De Bode said the network aims to enable privacy by default, match the execution speed of centralized exchanges and preserve self-custodial control, verifiable fairness and permissionless access. The ONDO token will continue as the governance and ecosystem token for Ondo’s markets infrastructure. As the network adds attestors, watchers and economic security, ONDO is intended to sit at the center of incentives and governance. The token is trading around $0.40 and has a market capitalization near $2 billion.