Ondo Finance Brings Tokenized Treasuries to the Cosmos Ecosystem with Noble Integration

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 47 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

) said Thursday that it has teamed up with asset issuance chain Noble to bring its tokenized U.S. Treasury offerings to the Cosmos, a tokenized note backed by short-term U.S. Treasuries offering a 5.2% annual yield, targeting the end of the second quarter of this year, a spokesperson told CoinDesk. USDY is currently available on Ethereum, Solana, Mantle and Sui.

Ondo's expansion to Cosmos means that its token offerings will be integrated to over 90 blockchains in the Cosmos ecosystem, boosting adoption for its products backed by U.S. Treasuries as a yield-earning savings, payment and collateral asset.. Noble is an application-specific chain within the ecosystem designed to issue native digital assets, and Ondo will use the chain as a"routing hub" for liquidity within the Cosmos ecosystem.

"Having Noble as our issuance partner will bring vastly improved utility and liquidity to appchains and their users, all while offering exposure to yielding instruments,” said Nathan Allman, founder of Ondo Finance.in the past year as crypto investors and digital asset companies sought safe ways to park their blockchain-based cash holdings and earn a yield. Ondo's tokenized offerings attracted over $300 million of deposits since debuting in early 2023.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

$1B of US Treasurys tokenized, Base TVL doubles in a month: Finance RedefinedOver $1 billion of United States Treasurys have been tokenized on Ethereum, Polygon, Solana and other blockchains.
Source: Cointelegraph - 🏆 562. / 51 Read more »

Ondo Finance moves $95 million worth of OUSG to BlackRock's BUIDLOndo Finance (ONDO) announced on Wednesday that it's shifting about $95 million worth of its OUSG's underlying assets to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
Source: FXStreetNews - 🏆 14. / 72 Read more »

Ondo Finance Tests Near-Instant Conversions Between USDC and BlackRock's BUIDL TokenOndo Finance, a tokenized asset platform, successfully tested the ability to convert between Circle's USDC stablecoin and BlackRock's BUIDL token. An Ondo wallet redeemed $250,000 worth of BUIDL tokens for USDC, showcasing the USDC-to-BUIDL feature. This news caused ONDO token to surge by 8% before experiencing a slight correction.
Source: CoinDesk - 🏆 291. / 63 Read more »