According to TechFlow, Sui Ecosystem DeFi protocol NAVI Protocol now supports Ondo’s stablecoin USDY. NAVI Protocol launched USDY on October 16, aiming to provide users with a more convenient and secure way to access RWA assets. Users can participate in more diversified income opportunities, including USDY and lending interest. Borrowing with USDY as collateral can provide users with higher capital efficiency while retaining the risk exposure of USDY’s native yield. In addition, as the number one project in Sui Ecosystem TVL, NAVI’s launch of USDY also paves the way for integrating RWA into Sui DeFi to achieve advanced income strategies.

Previously, Sui Blockchain announced a partnership with Ondo Finance to introduce Ondo Finance's USDY stablecoin to the Sui network, becoming the network's first native USD-denominated token. USDY is similar to USDT or USDC, a tokenized note backed by short-term U.S. Treasury bonds and bank demand deposits. Holders receive income generated through underlying assets in the form of accumulated token value.