Ondo Finance has reached a major milestone, surpassing $600 million TVL across all of its revenue products. The platform now holds $384 million in USDY and $221 million in OUSG, cementing its position as a leading issuer of tokenized treasury bonds. Ondo Finance shared the announcement in a recent post, celebrating the achievement as it continues to lead the real world asset (RWA) sector.
Launched in January 2024, Ondo Finance has quickly become a major player in the RWA sector. With a current market cap approaching $1 billion, Ondo’s rapid growth underscores its strong position in the market. While the focus is on institutions, individual investors can also trade on the Ondo platform. However, they must complete Know Your Customer (KYC) while businesses must complete Know Your Business (KYB).
Ondo Finance offers two main tokenized notes: USDY and OUSG. USDY is backed by short-term U.S. Treasury bonds and bank demand deposits, offering an annual percentage yield (APY) of 5.35%. OUSG, also backed by U.S. Treasuries, offers an APY of 5.08% but is only available to qualified purchasers. The platform only operates on business days, unlike many
Image: CoinGecko
