On July 27, 2026, Ondo Finance introduced the Ondo Network. The company calls it an execution layer for open financial markets. It is also the evolution of its earlier Ondo Chain plan. Rather than run a single blockchain, Ondo split the job into three parts. As a result, execution, verification, and settlement each get purpose-built infrastructure.
The pitch is direct. Ondo wants trading that feels fast and private like a centralized exchange. However, it also wants the verifiability of a blockchain. Additionally, the system stays non-custodial by design. That combination has long been treated as impossible, yet Ondo argues the tradeoff was never inherent.
Introducing the Ondo Network, the execution layer for open financial markets, and the evolution of our vision for Ondo Chain.
— Ondo Finance (@Ondo) July 27, 2026
Fast and private like a CEX. Verifiable like a blockchain. Non-custodial in design.
How it works:
→ Enclaves for private, high-speed execution
→… pic.twitter.com/EQZkX2OWF3
How the Three Layers Work Together
The architecture rests on three components. First, secure enclaves handle private, high-speed execution. These enclaves run on trusted hardware, such as Intel SGX chips. Consequently, order matching, margin math, and liquidations run off-chain at near-CEX speed. Meanwhile, the sensitive order flow stays shielded until trades settle.
Second, decentralized attestors provide verifiability. This network independently checks that the enclave runs approved code and correct logic. Notably, no one can alter the enclave without majority approval from these attestors. Third, public blockchains handle asset transfer and settlement. Therefore, collateral and positions settle onchain, and users keep control of their assets.
Ondo Perps Is the First Application
The Ondo Network launched to power Ondo Perps. That platform went live on July 7, 2026, as a perpetual futures venue. It lets non-U.S. traders take leveraged positions on equities, ETFs, and commodities. Furthermore, it accepts tokenized stocks and stablecoins as collateral. Supported markets already include AAPL, NVDA, TSLA, QQQ, and gold.
The performance targets read like a CEX. Traders get up to 20x leverage, 24/7 access, and tight spreads. According to Ondo President Ian De Bode, it is the first permissionless equity perps platform built for real derivatives-grade liquidity and speed. Still, Ondo stresses that the Network is not perps-specific. Spot markets, lending, and structured products could all run on the same rails.
From Ondo Chain to Ondo Network
Ondo first unveiled Ondo Chain in February 2025 at its inaugural summit in New York. That project was a permissioned, proof-of-stake Layer 1 for institutional real-world assets. It promised compliance, RWA-backed staking, and built-in proof-of-reserve oracles. However, as Ondo built for Ondo Perps, the team reached a different conclusion. Solving today’s infrastructure constraints did not require a traditional chain at all.
So Ondo pivoted rather than shipping two parallel networks. The company now separates execution, verification, and settlement instead of forcing them into one place. In its own framing, that split lets the right technology serve the right use. Importantly, Ondo describes the Network as the truer expression of why it wanted a chain. The goal, not the technology, led the decision.
Why This Matters for Onchain Markets
Ondo already ranks among the largest real-world asset issuers in crypto. Its tokenized Treasury products, USDY and OUSG, anchor a business worth billions in value. Meanwhile, Ondo Global Markets has passed $1 billion in total value locked. That platform offers over 100 tokenized U.S. equities to investors outside the United States. As a result, Ondo enters perps with real assets and real liquidity behind it.
The roadmap points toward something that looks more like a blockchain over time. Ondo plans to open the attestor set and add proof-of-stake security. Additionally, it wants onchain state settlement, more cryptographic proofs, and selective privacy. Each step adds independent operators, shared history, and rules anyone can check. In short, Ondo bets on the properties of open markets, not on any single technology.
*Disclaimer: News content provided by Genfinity is intended solely for informational purposes. While we strive to deliver accurate and up-to-date information, we do not offer financial or legal advice of any kind. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial or legal decisions. Genfinity disclaims any responsibility for actions taken based on the information presented in our articles. Our commitment is to share knowledge, foster discussion, and contribute to a better understanding of the topics covered in our articles. We advise our readers to exercise caution and diligence when seeking information or making decisions based on the content we provide.
