Ondo Finance Launches USDY on Sei Blockchain
The post Ondo Finance Launches USDY on Sei Blockchain appeared on BitcoinEthereumNews.com.
Ondo Finance has officially announced the launch of its USDY fund, backed by short-term US Treasuries and bank deposits, on the Sei Network. Following the news, the ONDO token price jumped by 12.6%, reflecting strong investor confidence in the expanding potential of the tokenized real-world asset (RWA) sector. Ondo Finance Taps Sei Network for Onchain US Treasuries Rollout This event carries special significance, as it marks the first time a US government bond product has been tokenized on a truly scalable blockchain, Sei Network (SEI). It marks a strategic move to bring regulated financial products into the DeFi ecosystem. US Treasuries have long been regarded as the “safe haven” asset in traditional finance. With tokenization, fractionalizing, transferring, and owning bonds become far easier, more transparent, and more efficient than with traditional methods. “USDY will be the first tokenized treasuries asset on the Sei network, one of the fastest-growing modular blockchain ecosystems, bringing institutional-grade onchain yield to its users for the first time,” Ondo said. It’s also worth highlighting Ondo’s choice to build on Sei, a Layer-1 blockchain known for high throughput and optimization for financial applications. Compared to more widely used blockchains today, developers specifically designed Sei to reduce transaction latency. The chain also aims to improve order execution speed, both of which are critical for running financial products that emulate traditional assets like USDY. Moreover, Sei’s TVL hit an all-time high of $626 million recently, reflecting explosive DeFi growth and rising investor interest. Choosing Sei over more crowded ecosystems reflects Ondo’s strategic vision in pursuing technological advantages and attracting new users. Another notable point is Ondo’s connection to the World Liberty Financial project. World Liberty has selected ONDO as a strategic reserve token, signaling long-term confidence in the project. This quiet endorsement from politically connected entities adds significant legitimacy…
