2024 Rewind: The Year RWAs Came Alive
As we enter 2025, with the Ondo Summit, Ondo Global Markets, and other groundbreaking initiatives ahead, it’s important to reflect on the strong foundation we’ve built to reach this point. Join us as we revisit twelve of Ondo’s 2024 highlights and our progress in bringing traditional finance onchain.
2024 rewind ⬇️
- 🎂 One Year of OUSG
- 💵 USDY Goes Live on Sui
- ⬛ OUSG Transitions Backing to BlackRock's BUIDL
- 🥧 Ondo TVL Surpasses $500M
- 🚀 Arbitrum STEP Committee Diversifies 6M ARB into USDY
- 📊 USDY Goes Live on Aptos
- 🍥 One Year of USDY
- 🔵 USDY Goes Live on Arbitrum
- 💲 PayPal to Enable PYUSD Redemptions of OUSG
- 🌉 Ondo Takes RWAs Multichain with LayerZero
- 🟠 Ondo Finance is Contributing $1M to Donald Trump’s Inauguration Fund
- 💨 USDY Goes Live on Plume Network
February 8: One Year of OUSG
February marked the one year anniversary since the launch of OUSG, Ondo’s flagship tokenized US Treasuries product. OUSG has grown to $200M in TVL to date, enabling Accredited Investors and Qualified Purchasers to tap into effective onchain cash management.
February 26: USDY Goes Live on Sui
USDY launched on the Sui blockchain, bringing a yield-bearing alternative to stablecoins to an ecosystem featuring significant user activity and innovative infrastructure. USDY has been quick to catalyze users in Sui, presenting a valuable alternative to stablecoin use cases, reinforcing its role in powering emerging DeFi environments.
March 27: OUSG Transitions Backing to BlackRock's BUIDL
In March, OUSG underwent a significant transition, converting the majority of its backing to BlackRock’s BUIDL fund. This move not only reinforced confidence in OUSG’s secure backing and speed of transacting, taking it from T+3 to 24/7/365 settlement, but also cemented Ondo’s collaboration with one of the most respected names in traditional asset management.
June 5: Ondo TVL Hits $500M
Across two different products, OUSG and USDY, Ondo surpassed $500M in TVL, a testament to an increasing appetite for high-quality tokenized financial products. This milestone reinforced Ondo’s role as a gateway for institutions and individuals seeking stable, yield-bearing assets.
July 11: Arbitrum STEP Diversifies 6M ARB to USDY
Arbitrum’s Stable Treasury Endowment Program (STEP) committee diversified 6M ARB into USDY, marking a major endorsement of USDY’s role in cash management across DeFi organizations. This strategic decision also solidified USDY’s newfound position as a foundational asset in the Arbitrum ecosystem.
July 31: USDY Goes Live on Aptos
USDY made its debut on the Aptos blockchain, extending its reach to a high-performance layer-1 ecosystem powered by the Move language. Being built on Move, and with robust adoption from institutional stalwarts like BlackRock via the BUIDL Fund and Franklin Templeton, Aptos is making a case to become the home of TradFi onchain.
August 26: USDY Turns One
USDY celebrated one year of providing composable, US Treasuries-secured yield, with numerous use cases across 70+ DeFi applications and 8 blockchains. The sheer number of integrations in the first year underscores the seamless composability and broad utility of USDY.
August 28: USDY Goes Live on Arbitrum
The launch of USDY on Arbitrum was a venture deep into DeFi for Ondo’s tokenized US Treasuries products, unlocking new opportunities for users seeking secure and composable stable-yield solutions. Tapping into an established DeFi ecosystem like Arbitrum furthered Ondo’s goal of making tokenized RWAs ubiquitous across leading blockchains.
November 15: PayPal USD (PYUSD) To Support 24/7 Conversions with OUSG
PayPal is set to enable customers to redeem OUSG via PYUSD and vice versa, enabling new liquidity pathways between both products. This relationship brings two industry stalwarts together, providing trusted onchain cash-management solutions.
November 26: RWAs Go Multichain with LayerZero
Ondo integrated with LayerZero to enable the crosschain functionality of Ondo’s tokenized US Treasuries products. RWAs can now move seamlessly across chains, and they can do so with institutional-grade security via our custom DVN stack featuring multiple redundancies. Our security-first solution opens up the door for RWA adoption, starting with USDY available across Ethereum, Arbitrum, and Mantle.
December 20: Ondo Finance is Contributing $1M to Donald Trump’s Inauguration Fund
Ondo Finance is contributing $1M to Donald Trump’s Inauguration Fund, backing the new administration’s drive to strengthen America’s global financial leadership through digital asset innovation. By supporting this vision, Ondo aims to be a collaborative partner in shaping policies that promote broader access to US financial markets and enhance their competitiveness on the world stage.
December 30: USDY To Go Live on Plume Network, a Modular Blockchain Purpose Built for RWAFi
USDY is set to go live on Plume Network upon mainnet, bringing tokenized US Treasuries to the first fully integrated modular layer-1 blockchain purpose-built for RWA finance (RWAfi). Plume offers a composable, EVM-compatible environment optimized for onboarding and managing a broad array of RWAs, from tokenized real estate to private market products.
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That’s a wrap on a stellar year for Ondo Finance and an even better one for institutional adoption as a whole. Now it’s time to set our sights on onboarding all markets. Don’t miss the Ondo Summit on February 6, live streamed on X and live from New York.