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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.
Charts on a laptop. (Unsplash, Kanchanara)
Charts on a laptop. (Unsplash, Kanchanara)

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.

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“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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