Onto Finance Withdraws from Blockchain and Launches Institutional Trading Network

Onto Finance has withdrawn its plans to build its own Layer 1 blockchain and has launched the Onto Network, a trading network focused on institutional investors. The development of the existing Onto Chain has been halted, and the company is currently developing the Onto Puffs, an indefinite futures trading platform. To overcome the limitations of public blockchain structures, a system that separates trade execution and settlement has been introduced. Orders are processed in a private environment to increase transaction speed, with only the final asset transfers being settled on the public blockchain. This design allows institutional investors to protect their trading strategies. Onto Puffs is the first service utilizing this network, and future support for trading collateralized tokenized assets is planned. Onto Finance currently manages approximately $2.6 billion in tokenized U.S. Treasury products and has recently established a foundation for a broker-dealer to provide token security trading services after receiving approval from FINRA. Plans are in place to expand the utilization of the Onto Network to include indefinite futures, spot markets, and lending.