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Ondo launches execution-focused Ondo Network for tokenized asset settlement

Ondo said asset transfers settle on Ethereum for now, while the first network version is live and the ONDO token remains the governance and ecosystem token.

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Ondo Finance, a tokenization company, launched the Ondo Network, describing it as an execution layer meant to evolve from its earlier Ondo Chain plan for real-world assets, and said the first version is already live, according to The Defiant. In an announcement, CEO Ian De Bode said the network is not a blockchain today, noting it uses a separation of execution, verification, and settlement rather than running all functions on a single ledger. The architecture is designed around hardware enclaves for private, high-speed execution, decentralized attestors for verifiability, and public blockchains for asset transfer settlement. De Bode said the company concluded that execution, rather than settlement, was the main bottleneck while building its Ondo Perps exchange and speaking with customers. Ondo Perps, a perpetual futures platform, is the first application built on the network, and Ondo said the network is general-purpose and could support spot markets, structured products, and lending markets. Ondo also said settlement happens on Ethereum for now, and that the settled-state record currently lives only within the enclaves. The company said the launch does not change the role of the ONDO token, which remains the governance and ecosystem token, and reported ONDO traded around $0.41, up about 14% over the prior seven days, with a circulating market capitalization near $2 billion as of 6:01 p.m. UTC on July 27.

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