Ondo Finance and Plume Network are collaborating to bring Ondo’s tokenized U.S. Treasury bond products to more investors across the real-world asset financing ecosystem.
The partnership between Ondo Finance (ONDO) and the Layer 1 modular blockchain for RWAfi Plume Network targets RWAfi. According to the two platforms, the goal is to expand access to products like Ondo US Dollar Yield (USDY) across the Plume Network.
By combining Ondo’s expertise in sovereign bond-backed yieldcoins and Plume’s RWAfi-tailored infrastructure, the two projects can simplify onboarding and capital integration. The native issuance of Ondos USDY on Plume is a step in this direction.
Ondo Finance’s flagship project USDY is currently the fourth largest tokenized U.S. Treasury bond product with over $450 million in value across eight blockchains.
According to data from rwa.xyz, the current total value of Hashnote’s short-duration yield coin, BlackRock’s BUIDL and Franklin Templeton’s Onchain US Government Money Fund is $1.8 billion, $621 million and $554 million, respectively. Dollar.
By launching USDY on Plume, Ondo will offer the APY of 4.65% to the platform’s users. It also promises to expand access to the yieldcoin for global retail and institutional investors. However, Ondo does not offer this product to US investors.
The collaboration not only provides an opportunity to expand RWA use cases but also contributes to the overall growth of DeFi. Katie Wheeler, vice president of partnerships at Ondo Finance, noted in a statement that the partnership will be a boon for the entire industry.
“Plume creates a network effect…
