Ondo Finance Debuts a Tokenized US Treasury Fund (USDY) on the SEI Blockchain
2025-07-18 22:16:01
Main Idea
Ondo Finance has launched the first-ever US government bond product tokenized on the Sei network, USDY, backed by short-term US Treasuries and bank deposits, marking a significant step in the tokenization of real-world assets (RWAs) in DeFi.
Key Points
1. Ondo Finance introduced USDY, a tokenized note backed by short-term US Treasuries and bank deposits, on the Sei network.
2. The Sei Network is experiencing significant growth, with its Total Value Locked (TVL) nearing $700 million, a 700% increase from the previous year.
3. The RWA market has grown from $11.6 billion to over $24 billion, indicating increasing adoption of tokenized assets.
4. Chainlink was integrated into ANZ bank to enable secure cross-chain exchange of RWAs, and Fidelity Investments has also entered the space.
5. Ondo Finance's USDY is seen as a pioneering project in the DeFi space, enhancing Sei's position in RWA-enabled applications.
Description
Ondo Finance, a designer of institutional-grade platforms, assets, and infrastructure, has introduced a novel approach to moving traditional assets onto the blockchain. Built on Sei’s infrastructure for digital asset exchanges, this marks a further collaboration between industry peers, bridging the gap between Web2 and Web3. An Industry First The decentralized finance (DeFi) platform Ondo announced yesterday on X the pioneering project – the first-ever US government bond product tokenized on the...
Latest News
- Ondo Finance Debuts a Tokenized US Treasury Fund (USDY) on the SEI Blockchain2025-07-18 22:16:01
- Trump’s Crypto Venture Now Holds $251M in ETH: $26M Profit and Counting2025-07-18 20:31:26
- Dogecoin Rockets Beyond $0.20 — Is $0.36 or Even $0.54 Next?2025-07-18 19:16:16
- Ethereum Whales Are Back as Coinbase Premium Surge Signals Growing Market Tension2025-07-18 18:06:17
- CRO Breaks Out With Momentum — Will the $0.18 Target Fall Next?2025-07-18 17:02:07