Ondo Finance and Aptos Foundation have partnered on the integration of real-world assets and blockchain technology.
Starting with the integration of Ondo’s tokenized U.S. Treasury instrument USDY into the Aptos blockchain, the partnership will set the stage for a series of financial products that leverage the strengths of both organizations, the companies said in a blog post Thursday (February 22). I mentioned it in the post.
According to the post, Ondo’s USDY resides on Ethereum, Solana, and Mantle, and the partnership aims to explore new solutions that combine on-chain native asset yields with real-world asset yields on Aptos. It is said that there is.
Founded by former meta-engineers, Aptos is a perfect fit for this project because it features the Move programming language, which is designed with security and flexibility in financial applications in mind, the post said.
Additionally, Ondo Finance, led by veterans of Goldman Sachs’ digital assets team, will work closely with service providers like BlackRock to help bridge the gap between traditional finance and the emerging blockchain ecosystem. According to the post.
According to the post, the new partnership goes beyond technological integration to combine the reliability of traditional finance with the efficiency and accessibility of blockchain technology.
Ondo Finance CEO Nathan Allman said in a post that the partnership aims to offer “groundbreaking” financial products. Bashar Lazar, Head of Grants and Ecosystems at the Aptos Foundation, said the partnership will make financial services “accessible and seamless”.
Additionally, Ondo’s integration with Thala, a decentralized finance protocol on Aptos, allows USDY to be launched in Thala’s automated market maker pool and serve as collateral for collateralized debt positions, enhancing liquidity options for users. Powering secure, capital-efficient decentralized financial solutions. the post said.
According to the post, USDY tokens cannot be sold in the United States as they are not registered under securities laws.
Ondo Finance said it aimed to build a “decentralized investment bank” when it announced in April 2022 that it had raised $20 million in a Series A funding round.
The company said at the time that it was expanding its team and preparing for product launches, including multi-chain deployment.