{"id":88384,"date":"2024-07-31T11:08:12","date_gmt":"2024-07-31T15:08:12","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=88384"},"modified":"2024-07-31T11:08:24","modified_gmt":"2024-07-31T15:08:24","slug":"ondo-finance-usdy-stablecoin-launches-on-aptos-blockchain","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ondo-finance-usdy-stablecoin-launches-on-aptos-blockchain\/","title":{"rendered":"Ondo Finance USDY Stablecoin Launches on Aptos Blockchain"},"content":{"rendered":"\n

The Aptos Foundation<\/a> announced the introduction of Ondo Finance's yield-bearing stablecoin, Ondo US Dollar Yield (USDY), on the Aptos blockchain.<\/p>\n\n\n\n

\"Ondo
Ondo Finance USDY Stablecoin Launches on Aptos Blockchain<\/figcaption><\/figure>\n\n\n\n

USDY, an instrument guaranteed by United States Treasurys, will be accessible to non-US residents via the Aptos blockchain, as per the Aptos Foundation. Digital asset registration under the Securities Act in the United States has yet to be completed.<\/p>\n\n\n\n

In its announcement, the Aptos Foundation acknowledged the advantages of stablecoins in democratizing finance and serving marginalized communities.<\/p>\n\n\n\n

Interestingly, stablecoin issuers and other entities in the crypto industry are now significant purchasers of US government debt.<\/p>\n\n\n\n

One example is Tether, which supports its stablecoin Tether with US dollar reserves and US Treasury bills<\/a>. The stablecoin issuer maintained $72.5 billion in US Treasury bills in 2023.<\/p>\n\n\n\n

\"A
A chart highlighting the increased demand for tokenized Treasury bills. Source:\u00a0Bluechip\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

The potential for stablecoins to benefit the US dollar has even captivated the attention of former US lawmaker Paul Ryan. <\/p>\n\n\n\n

During geopolitical efforts to forsake the dollar in international trade settlements, the former speaker of the US House of Representatives emphasized the potential of dollar-pegged stablecoins to generate demand for the dollar. This demand could extend the US dollar's dominance by decades.<\/p>\n\n\n\n

In July, Binance.US became one of the most recent crypto companies to receive regulatory sanction to invest customer funds in US Treasury bills. <\/p>\n\n\n\n

The agreement allowed Binance.US to invest in the instruments provided it utilized a third-party custodian for the funds. It refrained from investing customer funds back into Binance.US or Binance-related business operations.<\/p>\n\n\n\n

US Treasury Market to Surpass $3B 2024<\/h2>\n\n\n\n

A research strategist, Tom Wan, anticipates that the tokenized US Treasury market will surpass $3 billion by the conclusion 2024.<\/p>\n\n\n\n

As per the strategist, the tokenized Treasury offerings from BlackRock and Securitize will attract increased capital to the tokenized US debt instrument market.<\/p>\n\n\n\n

\"\"
A chart showcasing USDY and BUIDL\u2019s market share of tokenized Treasury products. Source:\u00a0Bluechip<\/figcaption><\/figure>\n\n\n\n

The analyst observed that BlackRock's Institutional Digital Liquidity Fund (BUIDL) is currently the world's largest tokenized Treasury investment fund.<\/p>\n\n\n\n

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

The Aptos Foundation announced the introduction of Ondo Finance’s yield-bearing stablecoin, Ondo US Dollar Yield (USDY), on the Aptos blockchain. USDY, an instrument guaranteed by United States Treasurys, will be accessible to non-US residents via the Aptos blockchain, as per the Aptos Foundation. Digital asset registration under the Securities Act in the United States has […]<\/p>\n","protected":false},"author":12,"featured_media":88392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[81],"tags":[21033,18004,21034],"class_list":["post-88384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin-news","tag-aptos-blockchain","tag-ondo-finance","tag-usdy-stablecoin"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/ondo.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88384","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\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=88384"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/88384\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/88392"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=88384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=88384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=88384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}