Outside Source
- Ondo Finance integrates LayerZero for multi-chain transfers of USDY tokenized assets.
- USDY, backed by US Treasuries, has over $600M in total value locked (TVL).
- The integration ensures secure, seamless cross-chain transactions with LayerZero.
Ondo Finance, a leading platform in tokenized real-world assets (RWAs), has announced its integration with LayerZero, an interoperability protocol designed to facilitate secure and seamless multi-chain transfers.
This collaboration will allow Ondo to expand the reach of its flagship yield-bearing product, USDY, a tokenized US Treasuries asset, across multiple blockchains, including Ethereum, Arbitrum, and Mantle.
USDY, which has rapidly gained traction in crypto, currently boasts a market capitalization of over $452 million, making it the third-largest tokenized US Treasuries product.
With over $600 million in total value locked (TVL), Ondo’s suite of RWA products is now the largest in the crypto industry, offering investors yield backed by US Treasuries.
By integrating LayerZero’s Omnichain Fungible Token Standard (OFT), Ondo can facilitate frictionless, cross-chain transactions for USDY holders without the need to mint new tokens on different networks.
The use of LayerZero’s technology ensures that each RWA transfer is secured with institutional-grade security, bolstered by a diverse set of decentralized verifier networks (DVNs) such as Axelar Network, Polyhedra Network, and LayerZero Labs. This robust security infrastructure is designed to give institutional investors the confidence to move their tokenized assets across interconnected blockchains seamlessly.
The integration also allows USDY holders to move their tokens easily between chains using Ondo’s native bridge, which is powered by LayerZero and Stargate Finance.
With plans to expand the integration beyond Ethereum, Arbitrum, and Mantle, Ondo aims to further broaden access to tokenized US Treasuries and enhance the efficiency of decentralized finance (DeFi).
As Ondo continues to innovate in the RWA space, the partnership with LayerZero sets a new standard for secure, cross-chain interoperability, paving the way for further growth in tokenized real-world asset markets.
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
