Ondo Finance Unveils Ondo Network for Fast, Private Trading

Ondo Finance has launched the Ondo Network, an execution layer designed for fast, private, and non-custodial trading. The network replaces the previously announced blockchain, Ondo Chain, which was intended for tokenized real-world assets.

The main obstacle preventing onchain trading platforms from competing with centralized exchanges is their speed, according to Ian De Bode, CEO of Ondo Finance. To address this issue, the company has separated the functions of trade execution and asset transfer in its new network.

Trade execution occurs inside trusted execution environments, known as secure hardware enclaves, which process application code without revealing sensitive information to the public. A decentralized group of attestors determines which code the enclaves may run, ensuring private execution while maintaining transparency through blockchain-based settlement.