Ondo Finance launched an offchain execution network on Monday, shifting away from the institution-focused layer-1 blockchain it announced in February 2025. The company said the Ondo Network handles trades away from public blockchains and is already being used by Ondo Perps, its perpetual futures platform. Ondo Finance is a real-world asset tokenization platform that had previously announced Ondo Chain as a blockchain for putting traditional financial assets onchain.
Ondo Network Uses Trusted Execution Environments for Trade Processing
Ondo Network runs its trading software inside protected computing environments that the company calls "enclaves," which are also known as Trusted Execution Environments in crypto parlance. A group of operators checks that the software has not been altered, and each holds part of the digital key needed to authorize transfers. Traditional blockchains typically rely on distributed networks of computers to validate transactions and maintain shared state, but Ondo Network operates differently by using these centralized protected environments.
Ondo said transfers are ultimately recorded on public blockchains, but it did not identify the operators or say how many are involved.
Ondo Describes Network as Continuation of Ondo Chain
Ondo described the system as a continuation of Ondo Chain, which it announced in February 2025 as a blockchain for putting traditional financial assets onchain. "It isn't a blockchain today; it doesn't need to be," the company said. Ondo said it may later add more operators, record more activity on public blockchains and introduce a system requiring participants to put up tokens as security, but it gave no timeline for these potential developments.
JPMorgan and Chainlink Completed First Ondo Chain Testnet Transaction
Ondo Chain reached testnet in 2025. JPMorgan's Kinexys and Chainlink completed its first transaction, a tokenized US Treasury settlement, during the testnet phase.
FAQ
What did Ondo Finance launch on Monday?
Ondo Finance launched an offchain execution network called Ondo Network on Monday. The network handles trades away from public blockchains and is already being used by Ondo Perps, the company's perpetual futures platform.
How does Ondo Network differ from traditional blockchains?
Ondo Network runs its trading software inside protected computing environments called "enclaves" or Trusted Execution Environments, with operators holding parts of digital keys to authorize transfers. Traditional blockchains rely on distributed networks of computers to validate transactions and maintain shared state, while Ondo Network uses centralized protected environments with transfers ultimately recorded on public blockchains.
What was the first transaction completed on Ondo Chain testnet?
JPMorgan's Kinexys and Chainlink completed the first transaction on Ondo Chain testnet in 2025, which was a tokenized US Treasury settlement.
