๐ฐ Ondo Scraps Its Layer-1 Blockchain Plan for a Private Trading Network
Ondo Finance has abandoned its 2025 plan to build Ondo Chain, a dedicated layer-1, and shipped Ondo Network instead โ a system that splits fast, private trade execution from settlement on public blockchains.
โข The first application is Ondo Perps, a perpetual futures exchange using tokenized assets as collateral.
โข Ondo already issues roughly $2.6B in tokenized Treasuries (OUSG, USDY) and ~$850M in tokenized equities, and its broker-dealer recently won FINRA approval for tokenized securities markets.
โข The pivot reflects growing institutional demand for blockchain settlement without exposing trading activity or order flow to competitors.
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