Ondo Finance Partners with Plume Network to Expand Tokenized U.S. Treasuries

Ondo Finance and Plume Network have announced a partnership to bring Ondo’s tokenized U.S. Treasuries products to a wider range of investors in the real-world assets finance ecosystem.

Combining Expertise for Simplified Onboarding

The partnership between Ondo Finance and Plume Network, a modular layer-1 blockchain for real-world assets finance (RWAfi), aims to expand access to products such as Ondo U.S. Dollar Yield (USDY) across Plume Network. By combining Ondo’s expertise in Treasuries-backed yieldcoins and Plume’s RWAfi-tailored infrastructure, the two projects can simplify onboarding and capital integration.

The native issuance of Ondo’s USDY on Plume is a significant step in this direction. The flagship Ondo Finance project, USDY, is currently the fourth largest tokenized U.S. treasuries product, with over $450 million in value across eight blockchains.

Expanding Access to Tokenized U.S. Treasuries

Launching USDY on Plume will bring the 4.65% APY to the platform’s users, expanding access to the yieldcoin to global individual and institutional investors. However, Ondo does not offer this product to U.S. investors.

The collaboration not only offers an opportunity for the expansion of real-world assets (RWA) use cases but also contributes to the overall growth of Decentralized Finance (DeFi).

“Plume is creating a network effect of opportunities for RWA issuance, and having a composable, yield-bearing asset to power this economy is a boon for both the asset utility and the ecosystem as a whole.”

– Katie Wheeler, Vice President of Partnerships at Ondo Finance

Recent Developments and Partnerships

The Plume Network team has recently sealed several key partnerships and integrations, including with Google Cloud, Chateau Capital, and on-chain private credit platform Credbull. Plume raised $20 million in its series A round, backed by prominent investors such as Brevan Howard Digital, Haun Ventures, and Galaxy Ventures.

For more news on the latest developments in the world of cryptocurrencies and finance, visit Global Crypto News.

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