Tokenized asset specialist Ondo Finance has scrapped its plans for a conventional layer-1 blockchain and replaced them with a private trading network designed for institutional-grade speed an
Tokenized asset specialist Ondo Finance has scrapped its plans for a conventional layer-1 blockchain and replaced them with a private trading network designed for institutional-grade speed and confidentiality. The decision, announced on Tuesday, means one of the sector’s largest issuers has concluded that a public blockchain is not the right place to actually match a trade.
The company’s February 2025 vision called for a product named Ondo Chain, a blockchain aimed at institutional finance and tokenized real-world assets. After building out its new perpetual futures platform, Ondo Perps, the firm said it concluded that a traditional blockchain was not the best tool for the speed and privacy institutional trading requires.
