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Ondo Finance launched the USDY fund on the Sei network.
Ondo Finance has just launched the tokenized USDY bond fund on the Sei Network, marking the first product of its kind on a highly scalable Layer 1 blockchain. USDY is supported by short term U.S. government bonds and bank deposits, with an yield of approximately 4.25% per year.
Ondo is currently one of the largest real asset projects (RWA) with a total managed asset value of approximately 1.4 billion USD. The project is linked to World Liberty Financial – a DeFi initiative supported by allies of President Donald Trump, which has previously purchased ONDO as a strategic reserve asset.
Earlier, Ondo also announced the acquisition of the blockchain company Strangelove and reached an agreement to purchase Oasis Pro to expand operations into the field of digital securities.
USDY was previously issued on Arbitrum, Ethereum, Mantle, and Solana, and is only available to investors outside America. Meanwhile, SEI is currently trading around 0.36 USD while ONDO has increased by over 10% to 1.04 USD in the last 24 hours.