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The announcement follows Tuesday’s launch of Ondo Global Markets designed to bring stocks, bonds and ETFs onchain.
The company will use permissioned validators to verify transactions and ensure accurate, up-to-date data.
Ondo Chain will also enable staking for tokenised real-world assets for network security.
Ondo Finance has launched Ondo Chain, a layer-1 blockchain focused on bringing institutional-grade financial markets on-chain. The company has chosen leading traditional asset managers Franklin Templeton, Wellington Management and WisdomTree to advise on the design of the blockchain.
Ondo Chain is being developed purposely to accelerate the creation of institutional-grade financial markets on-chain, Ondo Finance told The Block. According to the announcement, the layer-1 blockchain will use permissioned validators to verify transactions and ensure accurate, up-to-date data for asset prices and token backing.
The platform will also enable staking for tokenised real-world assets for network security and asset transfers between Ondo Chain and other supported networks powered by native omnichain bridging.
According to the press release, Ondo Chain is powered by a combination of the security and compliance features of permissioned blockchains used by financial institutions and the openness and accessibility of public chains like Ethereum.
Commenting on the announcement, CEO Nathan Allman said: “Ondo Chain is designed to meet the highest institutional standards while remaining open for developers and innovators. It tightly couples on-chain and off-chain infrastructure, reducing cost, enhancing security, and ultimately enabling a better user experience.”
This announcement follows Ondo Finance’s launch of Ondo Global Markets on Tuesday, which is designed to bring stocks bonds and ETFs on-chain. The company said Ondo Global Markets intends to do for Securities what stablecoins did for fiat, adding that the platform will offer exposure to over 1,000 NYSE- and Nasdaq-listed securities.
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