USDY is the world’s first tokenized note secured by US Treasuries, providing similar accessibility and utility as stablecoins. Tokenized US Treasuries have fueled the growth of the real-world assets sector, where traditional financial assets are made available on blockchains so that investors can leverage benefits from the technology, such as 24/7 global transferability and compatibility with decentralized financial applications. The market capitalization of real-world assets has grown from $100 million to over $704 million since the beginning of 2023, with Ondo leading the way.
Eric Chen, co-founder and CEO of Injective Injective Labs, expressed his view on Ondo’s integration, stating, “Ondo is rapidly redefining the real-world asset market, and for the first time in history, users will be able to access tokenized treasuries directly across Injective native dApps. This integration signifies a key milestone in making traditional financial instruments accessible within the DeFi ecosystem. Injective continues to pave the way towards truly connecting traditional finance with the blockchain world.”
Users can access USDY by bridging USDY to Injective from Ethereum using the Injective Hub or via a host of native dApps built on Injective, such as Helix, the premier decentralized exchange on the network. Injective has directly integrated some of the largest institutions on its chain, enabling the highest liquidity and capital efficiency levels for real-world assets.
Introducing USDY to Injective will mark the first time users across the Cosmos ecosystem can access tokenized treasuries. Integrating with Ondo also cements Injective’s position as a leading L1 for interoperability and real-world assets. To date, USDY is only available on Ethereum and Mantle, an EVM rollup, making this release its first expansion outside of the EVM environment.
“We are delighted to offer a yield-bearing product that incorporates mature financial structuring and robust investor protections while catering to the diverse needs of both individual and institutional investors. USDY is a significant stride towards a more inclusive and secure financial landscape,” said Nathan Allman, CEO of Ondo Finance.
About Injective
Injective is a high-speed interoperable layer-one blockchain designed for constructing cutting-edge Web3 finance applications. It offers developers robust plug-and-play modules to facilitate the creation of unparalleled decentralized applications (dApps). The native token, INJ, fuels Injective and its swiftly expanding ecosystem. Injective is incubated by Binance and enjoys support from prominent investors, including Jump Crypto, Pantera, and Mark Cuban.
About Ondo Finance
Ondo Finance provides institutional-grade, blockchain-enabled investment products and services. Ondo has an asset management arm that creates and manages tokenized financial products and a technology arm that develops decentralized finance protocols and blockchain solutions.
Ondo’s first core products are tokenized cash equivalents that deliver shallow risk, high-quality yield from U.S. Treasuries, money market funds, and similar instruments, offering on-chain investors an alternative to stablecoins where holders rather than issuers earn the vast majority of the underlying asset yield. Ondo also developed Flux Finance, a DeFi lending protocol supporting tokenized treasuries as collateral, recreating treasury repo markets on-chain while creating on-chain utility for Ondo’s tokenized securities.
This article was generated with the support of AI and reviewed by an editor. If you would like more information, you can look at our T&C.