In an innovative move that combines blockchain technology with traditional financial assets, Ondo Finance (ONDO) has collaborated with Noble, an application chain within the Cosmos ecosystem, to introduce tokenization of the U.S. Treasury. This initiative marks a new era in the accessibility and liquidity of financial assets in the digital world.
Stablecoin USDY
USDY, a tokenized note backed by short-term U.S. Treasuries, promises an annual yield of 5.2% and is scheduled to be issued by the end of the second quarter of this year.
Currently, USDY is available on several major blockchains such as Ethereum, Solana, Mantle, and Sui. With the expansion to Cosmos, USDY will integrate with more than 90 blockchains, expanding its use as a yield-generating savings, payments, and collateral asset.
Check the Crypto Market Today:
Use the Cosmos Network
Cosmos, often dubbed the "internet of blockchains," is a network that enables interoperability between different blockchains, including dYdX, Celestia, Sei, and Injective. Noble, as an application chain specifically designed for issuing digital assets, will be the central route for Ondo to distribute liquidity in the Cosmos ecosystem.
Nathan Allman, founder of Ondo Finance, stated that the partnership with Noble will increase utility and liquidity for appchains and their users, as well as provide access to valuable yield instruments.
How to Buy Crypto:
Ondo Becomes a Key Player
Ondo Finance has become a key player in the $1.2 billion tokenized Treasury market, attracting the attention of crypto investors and digital asset companies looking for a secure way to store and generate yield from blockchain-based cash assets. Since its launch in early 2023, Ondo's tokenization offering has attracted more than $300 million in deposits.
Conclusion
The latest development is also supported by a collaboration between BlackRock, a traditional asset management giant, and Securitize, which has launched a Treasury-backed BUIDL token. The token is now part of Ondo's support for its OUSG token, adding a new dimension to the portfolio of assets on offer.
Check Crypto Price Today:
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Ondo Finance (ONDO) Soars 60% In A Month: Time To Buy or Sell?
Ondo Finance (ONDO) Price Prediction, Will It Rise? Check Out the Analysis Here
Updated RWA Coin List 2024: ONDO and CFG, Don't Miss It!
Real World Asset (RWA): A Brief History of RWA Tokenization You Must Know!
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.