Tokenized asset specialist Ondo Finance ONDO$0.4030 has abandoned plans to build a conventional layer-1 blockchain, instead introducing a trading network it says is better suited for the next wave of onchain financial assets. Dubbed Ondo Network, the system marks a shift from the company's February 2025 vision for Ondo Chain, a blockchain for institutional finance and tokenized real-world assets. After building its new perpetual futures platform, Ondo Perps, the firm said it concluded that a traditional blockchain wasn't the best tool for handling the speed and privacy institutional trading requires.