Pyth Network Joins Ondo Finance to Access Institutionalized Assets

Pyth Network, a well-known oracle network serving various blockchains and protocols, has recently announced a partnership with Ondo Finance. This collaboration aims to provide accessibility to institutionalized assets through the release of a USDY/USD price feed. In a tweet, Pyth Network expressed excitement about bringing real-world assets to over 65 blockchains with the help of Ondo Finance, a leading issuer of tokenized securities.

To elaborate on the collaboration, Pyth Network published a blog post on its official website. It stated that decentralized finance aims to revolutionize access to capital markets, similar to traditional finance. To achieve this goal, decentralized applications (DApps) need access to conventional assets. Pyth Network, in partnership with Ondo Finance, aims to make this concept a reality.

The collaboration focuses on the launch of a “USDY/USD price feed.” This development allows Pyth Network to offer the service to more than sixty-five blockchain ecosystems. This achievement is significant in the DeFi world as it enables smart contract developers worldwide to access real-time data on USDY. USDY is a leading yieldcoin offered by Ondo Finance.

The release of this price feed opens the door for projects and developers to access Ondo USDY and enhance their access to institutionalized assets on the blockchain. Currently, the price feed supports USDY, and Pyth Network leverages more than 100 data providers to offer feeds for other real-world assets.

Additionally, Thala and Aptos have also joined forces with Ondo Finance to tokenize real-world assets. These efforts receive a boost from Pyth Price Feeds related to Ondo products. Furthermore, the Pyth oracle feeds related to USDY contribute to the growth of Solana’s offerings in the blockchain space.