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Ondo Finance to Bring RWAs to Mastercard Network
Mastercard's MTN incorporates API-enabled blockchain tools to allow banks to streamline domestic and cross-border transactions
Updated Feb 26, 2025, 6:58 p.m. Published Feb 26, 2025, 2:00 p.m.
What to know:
- Tokenized RWA issuer Ondo Finance has joined Mastercard's Multi-Token Network.
- Ondo's Short-Term U.S. Government Treasuries Fund investment product will be available to businesses on the Mastercard network.
Tokenized real-world assert (RWA) issuer Ondo Finance has joined the Mastercard network that connects financial institutions with businesses to improve cross-border payments.
Ondo's Short-Term U.S. Government Treasuries Fund (OUSG) investment product will be available to businesses on Mastercard's Multi-Token Network (MTN), giving them access to yield via tokenized assets, according to an emailed announcement on Wednesday.
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The majority of OUSG's assets are invested in BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), the largest blockchain-based money market fund, which is backed by short-term U.S. government bonds.
Mastercard's MTN incorporates API-enabled blockchain tools to allow banks to streamline domestic and cross-border transactions.
Traditional financial (TradFi) giants like Mastercard developing blockchain-based networks means that other financial institutions and corporates are able to access cryptocurrency and other digital assets without having to set up additional crypto infrastructure or accounts.
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