- The Ondo Finance protocol team recently announced a collaboration with the Sui ecosystem, providing exciting new opportunities for blockchain users.
- This integration will allow users to access a diverse range of tokenized real-world assets that are backed by the United States Treasury.
- One of the key offerings is the tokenized USDY, which is supported by the United States Treasury and generates profitability for investors.
Ondo Finance, the issuer of USDY, is known for providing tokenized assets backed by short-term US Treasury bonds and bank deposits. This investment opportunity is available for both individual and institutional investors.
Additionally, Ondo Finance offers another asset, OUSG, which grants access to short-term Treasury bond exchange-traded funds.
Sui, on the other hand, is a rapidly growing blockchain network that has seen its total value of blocked funds (TVL) reach an all-time high of $376 million at the end of January 2024. The Sui coin is currently trading around $1.51, according to TradingView.
“Ondo is an incredible addition to the Sui ecosystem, introducing its own income-generating stablecoin-like asset. It brings new opportunities for Sui creators and developers and introduces valuable features for app users,” stated Greg Siourunis, the Managing Director of Sui Foundation.
Since the launch of Sui’s mainnet in May 2023, the project has experienced a remarkable 14-fold increase in TVL in less than five months.