Introducing 24/7 Conversions Between OUSG and PayPal USD (PYUSD)
PayPal USD Stablecoin Will Soon be Available for Investors to Convert In and Out of Ondo Short-Term US Government Treasuries (OUSG), 24/7
We are excited to announce we will soon enable instant conversions between Ondo Short-Term US Government Treasuries (OUSG) and PayPal USD (PYUSD), one of the fastest-growing stablecoins. The collaboration will enable seamless minting of OUSG with PYUSD and 24/7 instant redemptions of OUSG for PYUSD. This arrangement further enhances the redemption liquidity of OUSG and expands the utility of PYUSD as a liquidity source for real-world assets (RWAs).
Jose Fernandez da Ponte, SVP & GM of Blockchain, Crypto & Digital Currencies at PayPal, commented “We are excited to further enhance the utility of PYUSD as a liquidity source for tokenized assets and capital markets more broadly. What Ondo Finance is doing is the perfect illustration of the inherent advantages that PYUSD enables for fast and cheap settlements for all payments.”
Nathan Allman, CEO of Ondo Finance, commented, “Allowing conversions between OUSG and PYUSD enhances our offerings, expanding our clients’ choice in reliable and high-quality settlement solutions that allows them to keep more of their assets onchain. We are excited to be at the nexus of the convergence between traditional finance and DeFi.”
Ondo Finance is known as a pioneer in the tokenization of real-world assets and is the first tokenized US Treasuries platform to surpass the $600m TVL milestone. OUSG marked a milestone as the first tokenized US Treasuries fund and offers qualified investors instant 24/7 subscriptions and redemptions, daily interest accruals, low fees and multi-chain availability (including Ethereum and Solana). The majority of its portfolio is held in the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
About Ondo Finance
Ondo Finance is a web3 native technology and asset management company that is building towards an open and more accessible financial system by launching institutional-grade assets, services and infrastructure on public blockchains. Ondo’s first core products are tokenized cash equivalents that deliver very low risk, high quality yield from US Treasuries, money market funds and similar instruments, offering onchain investors an alternative to stablecoins where holders rather than issuers earn the vast majority of the underlying asset yield. For more information, visit https://www.ondo.finance and https://www.ondo.finance/ousg
About PayPal USD
PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company. Paxos is licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. Reserves for PayPal USD are fully backed by US dollar deposits, US Treasuries and similar cash equivalents, and PayPal USD can be bought or sold through PayPal and Venmo at a rate of $1.00 per PayPal USD.
Issuance and custody of PayPal USD is performed by Paxos Trust Company, LLC. Learn more in PayPal's Cryptocurrency Terms, and in the Paxos Terms that also apply to PYUSD.
For media inquiries, contact Press@ondo.finance
NOTE: OUSG has not been registered under the US Securities Act of 1933 ("Act") or pursuant to securities laws of any other jurisdiction, and may not be offered, sold or otherwise transferred in the US or to US persons unless registered under the Act or an exemption or exclusion from the registration requirements thereof is available. Ondo I LP, the issuer of OUSG, is not registered as an investment company under the US Investment Company Act of 1940, as amended. Nothing herein constitutes any offer to sell, or any solicitation of an offer to buy, OUSG. Acquiring OUSG involves risks. A OUSG holder may incur losses, including total loss of their investment. Past performance is not an indication of future results.