Ondo Network Launches as Execution Layer for Open Financial Markets

According to CEO Ian De Bode, the Ondo Network represents an evolution from the company's earlier Ondo Chain concept. The shift in strategy was prompted by user feedback and an understanding of current infrastructure limitations, particularly concerning trade execution speed. The network utilizes secure hardware enclaves for private and high-speed execution, with decentralized attestors verifying approved code, while settlement of asset transfers is handled by blockchains.

The initial application deployed on Ondo Network is Ondo Perps, a platform designed for 24-hour trading of stock and commodity perpetual contracts, allowing tokenized real-world assets as collateral. Ondo has indicated that the network's capabilities extend beyond perpetual futures, supporting spot markets, structured products, and lending markets.

Oasis Pro Markets, Ondo's registered transfer agent, will leverage the new authorizations to grant U.S. investors access to a range of securities, including NMS equities, ETFs, mutual funds, index funds, and IPO securities. These tokens are minted on Ethereum and backed by real shares, with regulated custodians overseeing the underlying securities.

Asset transfers currently settle on the Ethereum blockchain, though Ondo plans to integrate with additional public blockchains in the future. Settlement can be conducted in fiat or supported stablecoins, directly between blockchain wallets. The company affirmed that the ONDO token will continue its role as the governance and incentive token for its real-world asset ecosystem.