Ondo Finance and Plume Network have announced a strategic partnership aimed at enhancing the accessibility of tokenized U.S. Treasuries within the real-world assets finance sector. The collaboration is set to integrate Ondo’s U.S. Dollar Yield (USDY) product into Plume Network’s infrastructure, furthering the use cases of real-world assets in the DeFi ecosystem.
Ondo’s USDY, noted as the fourth largest tokenized treasury product with a market value exceeding $450 million across eight blockchains, will now be issued natively on the Plume Network. This move intends to simplify user onboarding and capital integration while targeting a 4.65% annual percentage yield (APY), thus broadening the reach to global individual and institutional investors, though specifically excluding U.S. participants.
Katie Wheeler, Ondo Finance’s Vice President of Partnerships, emphasized that this initiative will significantly boost the utility of real-world assets and contribute to the thriving DeFi sector. Plume Network has also secured several pivotal partnerships, including with tech giant Google Cloud, Chateau Capital, and on-chain credit platform Credbull. In its Series A funding round, Plume Network attracted $20 million, with support from major investors like Brevan Howard Digital and Galaxy Ventures.
