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Ondo Finance Launches Ondo Chain: A New Era of Hybrid Blockchain Innovation
- Ondo Finance has announced the launch of its new Layer 1 blockchain, Ondo Chain.
- Ondo Chain aims to combine the pros of permissioned blockchains with the public blockchain accessibility of Ethereum.
- The hybrid blockchain will be built in a way that guarantees decentralisation, transparency, scalability and regulatory compliance.
- Partnerships with various financial institutions have been secured, including FTI Global, Wellington Management and WisdomTree Funds, for advising its packaging as a product that is structured for adoption by enterprises in highly regulated financial industry.
- Ondo Finance’s native cryptocurrency $ONDO received a significant market activity after the announcement of Ondo Chain
- World Liberty Financial recently swapped 470k $USDC for 342k $ONDO, despite the value of $ONDO token having dropped.
- Even with short-term fluctuations in the market, the project shows significant potential.
- Ondo Chain has the backing of major financial institutions and is positioning itself as an alternative to traditional financial structures.
- The transition to a token-based model for the payment of its Financial Risk Transfer products signals Ondo Finance’s seriousness about broadening the appeal of both $ONDO token and the Ondo platform.
- This development indicates a bright future for Ondo Finance and Ondo Chain. Nonetheless, this is hardly the end of their journey, and their resilience to perform as 'an expanding dual asset stablecoin' could make Ondo a serious player in the blockchain world
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