Ondo Pivots From Layer 1 to TEE-Based Execution Network

Ondo Finance announced Ondo Chain in February 2025 as an institution-focused layer-1 blockchain for tokenized real-world assets. Its testnet later hosted a tokenized U.S. Treasury settlement involving JPMorgan’s Kinexys and Chainlink. The shift underscores a broader design question for onchain finance: public blockchains offer transparent, non-custodial settlement, but their replicated execution and visible state can impede the speed and confidentiality demanded by professional trading.

On July 27, 2026, Ondo introduced Ondo Network, an offchain execution layer that runs approved trading code inside a high-performance Trusted Execution Environment, with multiple attestors controlling code approval and key access. Transfers still settle on public blockchains. The network already powers Ondo Perps, launched July 7 for eligible non-U.S. users, offering 24/7 equity, ETF and commodity perpetuals, tokenized-asset collateral and leverage of up to 20 times. Ondo Global Markets, the underlying tokenized-equity platform, had surpassed $1 billion in total value locked.