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Ondo Finance Integrates Tokenized Treasuries Onto Aptos
Aptos is the latest chain to offer users access to Ondo’s USDY.
Updated Feb 22, 2024, 3:00 p.m. Published Feb 22, 2024, 3:00 p.m.
Ondo Finance, a tokenized real-world asset (RWA) platform, has integrated its tokenized U.S. treasury-backed product (USDY) onto Layer-1 Aptos.
Aptos, which was founded by ex-Meta employees Mo Shaikh and Avery Ching, is the latest network to offer Ondo’s USDY. The U.S. dollar yield token is also available on Ethereum, Solana and Mantle.
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USDY is a token secured by short-term U.S. Treasuries and bank demand deposits.
The USDY integration is part of a wider partnership between Ondo and the Aptos Foundation. Both firms will explore solutions that combine on-chain and real-world asset yields onto Aptos.
“This will include developing new staking and re-staking processes that improve the utility of tokenized assets and the capital efficiency of the platforms that support them,” the press release said.
“A partnership forged in the spirit of redefining digital finance, Ondo Finance’s native integration onto Aptos is a step forward for accessible and seamless financial services,” said Bashar Lazaar, head of grants and ecosystem at Aptos Foundation.
Ondo will also integrate with Thala, a decentralized finance (DeFi) protocol built on Aptos. USDY will go live on Thala’s automated market maker pools, offering better liquidity options for users.
Thala is the largest Aptos-based protocol in terms of total value locked (TVL), according to data from DeFiLlama.
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