Ondo Finance launched the Ondo Network, an execution layer it calls the evolution of Ondo Chain, saying it 'isn't a blockchain today.' Ondo Perps is the first app.

CEO Ian De Bode said the Ondo Network is the "evolution" of the company's earlier Ondo Chain initiative and now underpins Ondo Perps.

Ondo launches a private execution network designed to deliver near CEX speed, blockchain settlement, verifiability, and noncustodial asset control.