Ondo Finance, a leading issuer of tokenized securities, has opened its first office in the Asia Pacific region, aiming to tap into the growing crypto market and demand for U.S.-based asset classes. The company offers three tokenized products that provide exposure to U.S. Treasuries, money market funds, and bank deposits.
Tokenized securities offer several benefits, such as lower costs, faster transactions, greater liquidity, and global accessibility. Ondo Finance claims to have occupied close to 40% of the global market share of tokenized securities, making it one of the leading players in this space.
The company currently offers three tokenized products, namely OUSG, OMMF, and USDY, which allow investors to gain exposure to U.S.-based asset classes, such as U.S. Treasuries, money market funds, and bank deposits.
These products are designed to offer stable returns, low volatility, and high security, making them attractive for risk-averse and conservative investors. Ondo Finance also plans to launch more tokenized products in the future, covering other asset classes and regions.
Today, Ondo Finance announced the opening of its first office in the Asia-Pacific region as part of its global expansion strategy. The company did not specify the exact location of its new office but said that it aims to tap into the growing crypto market and demand for U.S.-based asset classes in the region.
“There is an active and rapidly growing crypto community and an appreciation for the type of high-quality exposure to U.S. assets that our tokens provide,” Nathan Allman, founder and chief executive officer of Ondo, said in the press release.
The token issuer has appointed Ashwin Khosa, a former executive of Tether and Bitfinex, as the vice president of business development for the APAC region. Khosa will be responsible for building and managing relationships with institutional investors, exchanges, and regional regulators.
He will also oversee the region’s marketing and distribution of Ondo’s tokenized products.
Recent Launch of USDY
Ondo Finance has recently launched USDY, a tokenized note secured by U.S. Treasuries and bank deposits.
USDY is designed to offer a high degree of stability, security, and transparency, as high-quality and audited assets back it. USDY also offers a competitive yield, as it pays interest to the holders based on the underlying assets.
Ondo Finance launched USDY in partnership with the Mantle Network, a blockchain-based platform that enables the issuance and management of tokenized securities.
According to its X post, the token issuer also launched USDY on Solana, a high-performance blockchain network, in December 2021. This move allows USDY to benefit from Solana’s speed, scalability, and low fees, making it more accessible and efficient for the users.
Ondo Finance did not immediately respond to The Block’s request for comment.
