#write2earn #ONDO FINANCE AND #NOBLE CHAIN JOIN FORCES: EXPANDING TOKENIZED TREASURY OFFERINGS TO #COSMOS $ONDO $OSMO $usdy
Ondo Finance, a platform for tokenizing real-world assets (RWAs), has joined forces with Noble chain, built on Cosmos, to extend its tokenized offerings to the Cosmos ecosystem.
Ondo Finance, a major player in the booming tokenized Treasury market with over $300 million in deposits, has announced its partnership with Noble chain to expand its tokenized U.S. Treasury products to the Cosmos (ATOM) network.
The first asset Ondo plans to introduce via Noble is USDY, a tokenized note backed by short-term U.S. Treasuries, offering a 5.2% annual yield, slated for release by the end of the second quarter of this year. USDY is currently accessible on Ethereum, Solana, Mantle, and Sui.
By expanding to Cosmos, Ondo aims to integrate its token offerings across more than 90 blockchains in the Cosmos ecosystem, enhancing adoption for its U.S. Treasury-backed products as a means for earning yield, making payments, and serving as collateral.
Cosmos, known as the "internet of blockchains," comprises a network of individual blockchains, including dYdX (DYDX), Celestia (TIA), Sei (SEI), and Injective (INJ). Noble serves as an application-specific chain within this ecosystem, designed for issuing native digital assets. Ondo will utilize Noble as a "routing hub" for liquidity within the Cosmos network.
Nathan Allman, founder of Ondo Finance, expressed excitement about the partnership, stating, "Having Noble as our issuance partner will bring vastly improved utility and liquidity to appchains and their users, all while offering exposure to yielding instruments."
Ondo Finance has emerged as a major player in the $1.2 billion tokenized Treasury market, witnessing significant growth as crypto investors and digital asset firms seek secure avenues to invest their blockchain-based cash reserves and earn yields. Since its inception in early 2023, Ondo's tokenized offerings have attracted deposits exceeding $300 million.
