{"id":101670,"date":"2024-11-27T14:52:35","date_gmt":"2024-11-27T18:52:35","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101670"},"modified":"2024-11-27T14:53:45","modified_gmt":"2024-11-27T18:53:45","slug":"ondo-integrates-layerzero-for-multi-chain-usdy","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ondo-integrates-layerzero-for-multi-chain-usdy\/","title":{"rendered":"Ondo Integrates LayerZero for Multi-Chain USDY Support"},"content":{"rendered":"\n

Ondo Finance, a tokenized real-world asset marketplace, has incorporated LayerZero's interoperability protocol for multi-chain transfers<\/a> of its tokenized assets.<\/p>\n\n\n\n

\"Ondo
Ondo Integrates LayerZero for Multi-Chain USDY Support<\/figcaption><\/figure>\n\n\n\n

A statement states that Ondo will use LayerZero's technology to broaden the market reach of its U.S. Dollar Yield (USDY) stablecoin. This yield-bearing tokenized asset is worth more than $452 million.<\/p>\n\n\n\n

The third-largest tokenized U.S. Treasury instrument at the moment is USDY. \u201cInstitutional-grade assets demand secure and reliable interoperability to fully unlock the potential of blockchain technology<\/a>,\u201d said Nathan Allman, chief executive officer of Ondo Finance.\u00a0<\/p>\n\n\n\n

\n

Our partnership with LayerZero ensures seamless cross-chain transactions, providing the robust infrastructure necessary for institutions to confidently make their tokenized assets accessible omnichain across interconnected blockchains.”<\/p>\n<\/blockquote>\n\n\n\n

LayerZero's Omnichain Fungible Token Standard (OFT), which expands the capabilities of ERC-20 tokens for wider DeFi applications, will be used by Ondo. <\/p>\n\n\n\n

The integration guarantees institutional-grade security with platforms like Polyhedra, Axelar, and LayerZero Labs supporting verification. <\/p>\n\n\n\n

Users don't need to generate new tokens on extra chains to access yield-bearing U.S. Treasuries<\/a>. This integration makes Ondo's USDY completely compatible with the Ethereum, Arbitrum, and Mantle networks. <\/p>\n\n\n\n

The partnership between Ondo and LayerZero will be extended beyond the three networks that were initially supported. <\/p>\n\n\n\n

The tokenized real-world asset\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is also accessible on Solana, Sui, and Aptos, according to data from rwa.xyz. <\/p>\n\n\n\n

According to rwa.xyz, Ondo now offers 11 RWA products, increasing the platform's total yield-backed tokenized U.S. Treasury value to over $600 million. <\/p>\n\n\n\n

This puts Ondo ahead of rivals like Hashnote, Franklin Templeton Benji Investments, and Securitize, a tokenization partner of BlackRock.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Ondo Finance, a tokenized real-world asset marketplace, has incorporated LayerZero’s interoperability protocol for multi-chain transfers of its tokenized assets. A statement states that Ondo will use LayerZero’s technology to broaden the market reach of its U.S. Dollar Yield (USDY) stablecoin. This yield-bearing tokenized asset is worth more than $452 million. The third-largest tokenized U.S. Treasury […]<\/p>\n","protected":false},"author":43,"featured_media":101672,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[8564,19704,18005],"class_list":["post-101670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-layerzero-2","tag-ondo","tag-usdy"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/croc_1732727695431-1.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101670"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101670\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/101672"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}