According to Foresight News, Ondo Finance has announced that its yield-bearing stablecoin, USDY, can now be used as collateral on the Solana-based perpetual contract protocol, Drift Protocol. In addition to this, users can also deposit and borrow USDY on Drift. This development marks a significant step in the expansion of Ondo Finance's stablecoin, providing users with more flexibility and options in their cryptocurrency transactions. The integration with Drift Protocol further enhances the utility of USDY, allowing it to be used in a wider range of financial operations.