Ondo Finance Brings Tokenized Treasuries to the Cosmos Ecosystem with Noble Integration

A representative of Ondo revealed to CoinDesk that the company intends to launch its first native asset, USDY, through Noble, starting in the latter part of the second quarter this year. USDY is a digital note representing short-term U.S. Treasuries and carries an annual yield of 5.2%. At present, investors can access USDY on Ethereum, Solana, Mantle, and Sui.

The integration of Ondo into the Cosmos network allows its token offerings to be accessible on more than 90 blockchains within the Cosmos system, thereby increasing demand for its U.S. Treasury-backed products as potential savings, payment, and collateral assets with yield-earning capabilities.

“Partnering with Noble for our issuance will significantly enhance the functionality and market accessibility for appchains and their users, providing an opportunity to invest in profitable assets,” explained Nathan Allman, Ondo Finance’s founder.

In the burgeoning $1.2 billion market for tokenized Treasuries, where crypto investors and digital asset businesses have been looking for secure places to store and grow their blockchain funds, Ondo Finance stands out as a major player. Since its launch in early 2023, Ondo’s tokenized investment opportunities have drawn in over $300 million in deposits.

More recently, BlackRock, a well-established player in traditional asset management, teamed up with Securitize to create a new product: a Treasury-backed digital token named BUIDL. This token is currently being utilized by Ondo as collateral for its OUSG token.