Ondo launched a network that processes trades offchain and settles transfers on public blockchains, in an apparent departure from its planned layer 1.

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.