News Formal

Ondo Finance to Move $95M to BlackRock's Tokenized Fund for Instant Settlements for Its T-Bill Token

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 63%

대한민국 뉴스 뉴스

대한민국 최근 뉴스,대한민국 헤드 라인

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

BUIDL to allow instant settlements for its own U.S. Treasury-backed token , Nathan Allman, CEO of Ondo Finance, said Wednesday in a Telegram interview with CoinDesk.token was backed by BlackRock's iShares Short Treasury Bond exchange-traded fund , which traded only during traditional market hours, opposite to crypto's around-the-clock nature.

"Many investors have been so far hesitant to use OUSG because of the time it used to take to redeem, and given the 24/7/365 and volatile nature of crypto markets and the often sudden need for capital that arises from that," Allman said in the interview."OUSG will become significantly more usable as a store-of-value and collateral asset within the crypto ecosystem."

Ondo has already transferred $15 million of OUSG backing assets to BlackRock's BUIDL over the past days, and plans to move another $80 million by the end of Wednesday, Allman added. Ondo's action marks the first example of a crypto protocol leveraging asset management giant BlackRock's tokenized fund offering, which debuted last week. The fund, represented by the Ethereum-based BUIDL token backed by U.S. Treasury bills and repo agreements, is targeted for white-listed, institutional clients and requires at least $5 million minimum allocation.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 291. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Real-world assets narrative saturates crypto market despite $16 million exploit on CurioOndo Finance (ONDO) is leading the real-world assets (RWA) category in an impressive rally that has seen its market capitalization increase by 17.1% in the last 24 hours.
출처: FXStreetNews - 🏆 14. / 72 더 많은 것을 읽으십시오 »

Frax Finance Targets $100B Value Locked in Singularity RoadmapOmkar Godbole is a Co-Managing Editor on CoinDesk's Markets team.
출처: CoinDesk - 🏆 291. / 63 더 많은 것을 읽으십시오 »

Landmark heat rules for California workers are opposed by state finance officialsCal/OSHA has voted to adopt new heat illness prevention standards for indoor workers, despite the objections of state finance officials.
출처: latimes - 🏆 11. / 82 더 많은 것을 읽으십시오 »