The firm abandons blockchain plans to focus on a high-speed platform for institutional trading of tokenized assets and perpetual futures.
Ondo Finance has scrapped its layer-1 blockchain project, opting instead for Ondo Network, a private trading system designed for institutional needs. The platform prioritizes speed and privacy, separating trade execution from public blockchain settlement.
The move follows Ondo’s February 2025 vision for Ondo Chain, which aimed to support tokenized real-world assets. The firm now argues that traditional blockchains lack the performance required for institutional trading, citing its new perpetual futures platform, Ondo Perps, as the first application.
Ondo’s pivot aligns with growing Wall Street interest in tokenization, as the firm expands its role as a major issuer of tokenized U.S. Treasuries and equities. The network will eventually support broader trading of onchain financial assets.