Ondo Finance has achieved a serious milestone, crossing the $600 million TVL for all its income merchandise. The platform now holds $384 million in USDY and $221 million in OUSG, cementing its place because the main issuer of tokenized authorities bonds. Ondo Finance shared the announcement in a current submit, celebrating the achievement as the corporate continues to guide the true world asset (RWA) sector.
Launched in January 2024, Ondo Finance has shortly grown into a serious participant within the RWA sector. With a present market capitalization of just about $1 billion, Ondo’s fast progress underlines its sturdy place out there. Though the main focus is on establishments, particular person buyers can even commerce on the Ondo platform. Nonetheless, they need to full Know Your Buyer (KYC) whereas companies should full Know Your Enterprise (KYB).
Ondo Finance gives two main tokenized banknotes: USDY and OUSG. USDY is backed by short-term US Treasury bonds and financial institution demand deposits, with an annual yield (APY) of 5.35%. OUSG, additionally backed by US Treasury bonds, gives an APY of 5.08%, however is simply accessible to certified patrons. The platform, not like many others, solely works on working days
Picture: CoinGecko