Ondo Finance Launches USD Yield Token on Sei Network

Ondo Finance announced on July 18 that USDY, a tokenized US dollar yield product, will launch on the Sei Network.

This development highlights Ondo Finance’s expansion strategy, marking USDY as the first Treasury bond-backed asset on the Sei blockchain, enhancing its credibility.

USDY Launch: Ondo Finance Expands with Treasury-Backed Token

Ondo Finance’s USDY deployment on the Sei Network represents its first on-chain US Treasury bond asset. This move involves the Sei Development Foundation and leading figures like Justin Barlow. USDY applies traditional finance protection with stablecoin liquidity and is offered on high-speed Layer 1.

Sei Network’s infrastructure attracts institutional-grade products like USDY. This integration increases platform TVL, reflecting a rise in market interest for composable yield primitives and institutional applications. USDY’s deployment on Sei arises amid its $680 million TVL, targeting non-U.S. investors with a 4.25% return.

“Sei’s breakthrough infrastructure with near instant finality and parallelized execution makes it uniquely suited for institutional-grade financial products, and USDY represents the exact kind of high-quality, composable yield primitive that will unlock new possibilities for developers building the next generation of onchain applications,” said Justin Barlow, Executive Director at Sei Development Foundation.

USDY Debut Boosts Sei Network’s RWA Infrastructure

Did you know? USDY’s debut on the Sei Network marks an expansion of tokenized Treasury offerings, previously dominated by major institutional players such as BlackRock and Franklin Templeton.

According to CoinMarketCap, USDY maintains a price of $1.10 with a market cap of $637,987,615. Its 24-hour trading volume stands at $1,400,496.15, marking a 1.76% decrease. The token’s price increased 0.07% in the last 24 hours.

The Coincu research team projects a strengthening of Sei’s RWA framework. USDY’s launch may prompt regulatory discussions and drive technological enhancements, potentially reshaping the RWA landscape. This collaboration could foster broader blockchain adoption in financial ecosystems.