Ondo Monthly Spotlight: April 2024

Welcome to the Monthly Spotlight from Ondo Finance, where we delve into the latest developments from the forefront of real-world asset tokenization. This month, Ondo’s tokenized cash-equivalents saw tremendous growth in terms of TVL and integrations, as well as expansion to 90+ Cosmos chains through our partnership with Noble.

April Spotlights ⬇️

📈 BUIDL, Now The Largest Tokenized Treasury Fund
💸 USDY Surpasses $200M in TVL
🪐 Tokenized Treasuries to Cosmos Ecosystem Through Noble
🌐 Ondo Ecosystem Expansion
📺 Ondo Finance at Token2049

📈 BUIDL, Now The Largest Tokenized Treasury Fund

BUIDL has become the largest tokenized treasury fund, and as per CoinDesk, "the change in guard was largely thanks to the growth of Ondo Finance, whose tokenized Treasury offering OUSG leverages BlackRock's token as a reserve asset and enjoyed $50M of inflows in a week."

We continue to see strong demand for more capital efficient cash solutions across the board, and we are proud to have contributed $140M to the success of this milestone effort from BlackRock.

💸 USDY surpasses $200M in TVL

USDY, a tokenized note secured by short-term US Treasuries, continues to see growing demand, surpassing $200M in TVL for the first time (currently sitting in excess of $218M).

USDY is a tokenized note secured by short-term US Treasuries and bank demand deposits. USDY is accessible to non-US individual and institutional investors and is transferable onchain 40-50 days after purchase.

USDY offers a variable interest rate adjusted monthly in advance by Ondo. The yield automatically compounds, meaning the value in USD at which USDY can be minted and redeemed slowly increases each day. USDY is currently yielding 5.20% APY, while the blended US Treasuries and bank deposit portfolio is yielding approximately 5.34% APY. These rates are subject to change.

🪐 Tokenized Treasuries to Cosmos Ecosystem Through Noble

As one of the largest players in the rapidly growing tokenized US Treasury product category, Ondo Finance is excited to bring crypto's most popular yield-bearing cash equivalent products to 90+ Cosmos chains through our partnership with Noble.

With over $300M in TVL, Ondo is the go-to partner for onchain capital seeking capital-efficient liquidity and cash management solutions. Through our integration with Noble, we will expand the availability of our products to the growing Cosmos ecosystem appchains.

"We will bring vastly improved utility and liquidity to appchains and their users, all while offering exposure to yielding instruments," says Nathan Allman, CEO of Ondo Finance. Continue reading.

🌐 Ondo Ecosystem Expansion

The Ondo Ecosystem Directory – a list of the institutions, protocols, and networks aligned with our mission of delivering institutional-grade financial products onchain continues to expand. Notably, Noble, Finoa, Ledger Enterprise, Sphere Labs, and Polytrade joined the Ondo Ecosystem this month.

Jelena Djuric, Noble’s Founder, stated, “We are excited to partner with Ondo on the launch of their digital asset products in Cosmos. Having a first-class product such as USDY issued natively on Noble promises to deliver enormous benefits, including increased liquidity, interoperability and UX.”

Henrik Gebbing, Co-Founder & Co-CEO of Finoa, said, “Ondo Finance stands out as a significant player in the tokenization space, with OUSG proving to be an increasingly popular product for Qualified Purchasers around the world. We are excited to have now integrated OUSG within our market-leading custody solution, which enables institutional investors to both securely hold, and utilize, this yield-bearing token.”

Sebastien Badault, VP of Enterprise Revenue at Ledger, said, "Ledger Business is delighted to extend Ledger Enterprise Platform support to Ondo Finance, OUSG and USDY. Ledger Enterprise clients can now utilize the full potential of OUSG and USDY, and leverage them via our revolutionary off-exchange trading network technology, TRADELINK.”

Luigi Charles, CTO of Sphere, stated, "We are delighted to collaborate with Ondo Finance and add support for USDY to further accelerate our mission to provide accessible and efficient value transfer around the world. For those in under-addressed markets, the significance of having access to robust payments infrastructure, coupled with USD-denominated yield, cannot be overstated.”

📺 Ondo Finance at Token2049

Did you miss Ondo Finance President & COO, Justin Schmidt, alongside Viktor Fischer, Sergey Nazarov, Max Boonen & Ben Forman, on the main stage at Token2049? The panel discussed the revolutionization of markets through asset tokenization. Catch up below:

Will you be in Austin for Consensus? Justin Schmidt will be joining “What’s Next for TradFi” on Wednesday, May 29th. Reach out if you’d like to connect!

⚠️ Important: USDY is not, and may not be, offered, sold, or otherwise made available in the US or to US persons. USDY also has not been registered under the US Securities Act of 1933. Important: USDY is not, and may not be, offered, sold, or otherwise made available in the US or to US persons. USDY also has not been registered under the US Securities Act of 1933. Important: USDY is not, and may not be, offered, sold, or otherwise made available in the US or to US persons. USDY also has not been registered under the US Securities Act of 1933.