**News Flash: Aptos Foundation Launches Ondo Finance’s Yield-Bearing Stablecoin**

The Aptos Foundation has announced the launch of Ondo Finance’s new stablecoin, Ondo US Dollar Yield (USDY), on the Aptos blockchain. This digital asset, backed by US Treasurys, will be available to non-US residents.

Stablecoins like USDY are praised for their potential to democratize finance and serve underserved communities. Interestingly, stablecoin issuers are becoming significant buyers of US government debt. Tether, for instance, holds $72.5 billion in US Treasury bills.

Former US lawmaker Paul Ryan has noted that stablecoins could bolster US dollar demand, potentially extending its global dominance. Research strategist Tom Wan predicts the tokenized US Treasury market could hit $3 billion by the end of 2024, driven by offerings from BlackRock and Securitize.