Ondo Chain aims to offer compliance-friendly blockchain access for institutional investors.
Ondo Finance Launches Institutional Blockchain, Ondo Chain
Ondo Finance is introducing Ondo Chain, a hybrid layer 1 blockchain designed for traditional financial institutions, featuring an invite-only validator model.
Merging Public and Private Blockchain Features
The platform blends the accessibility of public blockchains with compliance measures of private chains, addressing concerns over security and regulatory risks.
Institutions Can Participate Without Holding Crypto
Ondo Chain allows financial institutions to run nodes using tokenized real-world assets (RWAs) instead of crypto, easing compliance concerns.
Ondo Token (ONDO) Dips on Announcement
Despite the innovation, ONDO’s price fell 6% to $1.29 following the news, reflecting mixed investor sentiment.
“You as an institution can participate and run a node just with the assets that you’re already holding on your balance sheet. This also means that you as an institution can actually run a node without ever having to touch crypto. I’m sure that will make some people in your compliance and accounting department extraordinarily happy.”
– Ian De Bode, Ondo’s Chief Strategy Officer
Disclaimer:
The information provided on 13Desk is for informational purposes only and should not be considered financial advice. We strongly recommend conducting your own research and consulting with a qualified financial advisor before making any investment decisions. Investing in cryptocurrencies carries risks, and you should only invest what you can afford to lose. 13Desk is not responsible for any financial losses incurred from your investment activities.
