Ondo Finance has introduced Ondo Network, a new execution layer designed to provide centralized exchange-like speed while preserving non-custodial, onchain settlement. CEO Ian De Bode made the announcement earlier this week.

Introducing the Ondo Network, the execution layer for open financial markets, and the evolution of our vision for Ondo Chain. Fast and private like a CEX. Verifiable like a blockchain. Non-custodial in design. How it works: → Enclaves for private, high-speed execution →… pic.twitter.com/EQZkX2OWF3 — Ondo Finance (@Ondo) July 27, 2026

Introducing the Ondo Network, the execution layer for open financial markets, and the evolution of our vision for Ondo Chain.

Fast and private like a CEX. Verifiable like a blockchain. Non-custodial in design.

How it works:

→ Enclaves for private, high-speed execution →… pic.twitter.com/EQZkX2OWF3

— Ondo Finance (@Ondo) July 27, 2026

De Bode described Ondo Network as an “evolution” of Ondo Chain, the company’s earlier blockchain initiative, and said Ondo will not operate both platforms at the same time. Ondo Finance had originally planned to build a full blockchain stack through Ondo Chain to bring real-world assets onchain. But after the launch of Ondo Perps and feedback from users, the team concluded that execution, rather than settlement, was the main performance bottleneck. That shift helps explain why the new design focuses on separating execution from validation and settlement, rather than rebuilding the entire stack in a single ledger.

Traditional blockchain systems handle execution, validation, and settlement within a single ledger. Ondo Network separates those three functions, using secure hardware enclaves to support private and fast execution. A decentralized attestor network determines which code the enclaves are allowed to run. Asset settlement currently takes place on Ethereum, with support for additional public blockchains planned later.

De Bode said the network offers “privacy by default, execution speed that can rival centralized exchanges, while still maintaining self-custodial design, verifiable fairness and permissionless access.”

Ondo Perps is the first application to launch on the network. It offers 24/7 perpetual futures trading tied to equity securities and commodities, with tokenized real-world assets accepted as collateral. Ondo said the network is designed as a general-purpose infrastructure that could also support spot markets, lending protocols, structured financial products, and non-financial applications that require fast, private, and verifiable execution.

Users can settle transactions in fiat currency or approved stablecoins, including direct transfers between blockchain wallet addresses.

Oasis Pro Markets, which serves as Ondo’s registered transfer agent, has also obtained additional regulatory approvals to give U.S. market participants access to NMS equities, exchange-traded funds, mutual funds, index funds, and initial public offering securities. Oasis Pro issues tokens on Ethereum, with each token representing actual shares held by regulated custodial institutions.

The utility of the ONDO token remains unchanged. De Bode said it continues to function as the governance and ecosystem token. As the network moves toward greater decentralization, ONDO will remain the mechanism for incentive distribution and governance decisions at that layer.

Cryptocurrency analyst Crypto Patel said on X that ONDO held a breakout retest at a $0.37 entry level and then climbed to $0.419, a gain of about 12% within hours. Patel said the target remains $0.665 if the bullish structure stays intact.

$ONDO Update: Trade Playing Out Perfectly. $ONDO respected the breakout retest exactly as planned and rallied to $0.419 from our $0.37 entry. That’s nearly 12% profit in just a few hours. As long as the bullish structure remains intact, I’m still targeting $0.665. Manage… pic.twitter.com/L89AEwxUfG — Crypto Patel (@CryptoPatel) July 28, 2026

$ONDO Update: Trade Playing Out Perfectly. $ONDO respected the breakout retest exactly as planned and rallied to $0.419 from our $0.37 entry. That’s nearly 12% profit in just a few hours.

As long as the bullish structure remains intact, I’m still targeting $0.665. Manage… pic.twitter.com/L89AEwxUfG

— Crypto Patel (@CryptoPatel) July 28, 2026

ONDO is trading around $0.40 and is currently the 41st-largest cryptocurrency by market capitalization, with a valuation approaching $2 billion.