According to BlockBeats, on August 28, RWA protocol Ondo Finance announced that its yield stablecoin USDY has been launched on Arbitrum. This development marks a significant step in the expansion of Ondo Finance's offerings within the decentralized finance (DeFi) ecosystem.
In addition to the launch, the Arbitrum STEP committee has decided to allocate 6 million ARB tokens, approximately valued at $3.16 million, from the Arbitrum DAO treasury to support the development of Ondo's USDY. This allocation aims to bolster the growth and integration of real-world assets (RWA) on the Arbitrum network, further enhancing its DeFi capabilities.
