U.S. Treasuries8.04d ago
Crypto News: USDY Fund Launches on Sei Network as Ondo Finance Expands Tokenized Treasury Products
◆ AI SignalU.S. TreasuriesGemini
Ondo Finance has officially launched its flagship USDY fund on the Sei Network, representing the first tokenized U.S. Treasury product to debut on this layer-1 blockchain. This expansion integrates USDY, which offers approximately 4.25% APY backed by short-term Treasurys and bank deposits, into the Sei ecosystem. The move highlights a deepening relationship between Ondo and World Liberty Financial, which maintains a significant holding of ONDO tokens. As one of the largest RWA projects with $1.4 billion in total value locked, Ondo is aggressively scaling its infrastructure through recent acquisitions, including blockchain developer Strangelove and broker-dealer Oasis Pro. Sei Network, known for its 400-millisecond block finality and parallel execution, continues to attract institutional interest, evidenced by strategic investments from Circle. Following the announcement, ONDO experienced a price surge of over 10%, trading at $1.04, while SEI traded at $0.36. This development underscores the growing trend of major RWA protocols diversifying across high-performance blockchains to increase accessibility and liquidity for tokenized yield-bearing assets.
Key points
- ▸Ondo Finance launched USDY on Sei, the network's first tokenized Treasury product.
- ▸USDY provides approximately 4.25% APY backed by short-term U.S. Treasurys and bank deposits.
- ▸Ondo manages $1.4 billion in assets and recently acquired Strangelove and Oasis Pro.
- ▸ONDO token price increased over 10% following the Sei Network integration announcement.
Background
Ondo Finance is a prominent real-world asset protocol that tokenizes yield-bearing financial instruments, such as U.S. Treasurys, to provide on-chain stability and returns. The protocol allows investors to access traditional financial products via blockchain technology, bridging the gap between institutional finance and decentralized markets. Sei Network is a high-performance, layer-1 blockchain optimized for trading, utilizing parallel execution to achieve rapid block finality.
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Relevance
8/10
#OndoFinance#SeiNetwork#USDY#TokenizedTreasuries#RWA