[Ondo Finance Abandons Layer 1 Plans, Launches Private High-Speed Trading Network Ondo Network] Odaily Planet Daily News: Tokenized asset issuer Ondo Finance has abandoned its traditional Layer 1 blockchain plans and instead launched Ondo Network. The platform is positioned as a trading network tailored to institutional needs, designed to support private and high-speed trade execution. The first application on Ondo Network, Ondo Perps, will allow users to trade perpetual futures using tokenized assets as collateral, separating fast and private trade execution from public chain settlement. Ondo Finance has already issued tokenized U.S. Treasury bonds and stocks and is advancing broader trading infrastructure development amid rising interest in tokenization and 24/7 markets on Wall Street.