Ondo Finance, a significant player in the tokenized Treasury market, has partnered with the Cosmos-based Noble chain to introduce its tokenized products to the Cosmos ecosystem. This collaboration will allow Ondo to offer USDY, a tokenized note backed by short-term U.S. Treasuries, across more than 90 blockchains within the Cosmos network, enhancing liquidity and utility for appchains and their users.
The integration with Noble serves as a routing hub within the Cosmos ecosystem, promoting improved utility and liquidity. Ondo Finance’s move to Cosmos is a strategic step to increase adoption of its products, which are backed by U.S. Treasuries as yield-earning, savings, payment, and collateral assets. Nathan Allman, founder of Ondo Finance, highlighted the integration’s potential to offer exposure to yielding instruments while improving utility and liquidity for users.
Ondo’s expansion reflects the growing trend of tokenization in financial assets, providing a safe way for crypto investors and digital asset companies to earn yields on their blockchain-based holdings. With over $300 million in deposits, Ondo’s offerings, including the newly introduced USDY token, are set to enhance the financial capabilities within the Cosmos ecosystem.
