Ondo Finance Integrates LayerZero for Multi-Chain Token US Treasury Transfers
Ondo Finance integrates LayerZero for multi-chain transfer of USDY tokenized assets. The USDY, backed by US Treasuries, has a total value locked (TVL) of over $600M. The integration ensures secure, seamless cross-chain transactions with LayerZero.
Ondo Finance, a leading platform in tokenized real-world values (RWAs), has announced its partnership with LayerZero, a platform designed to facilitate secure and seamless multi-chain transfers.
This partnership will allow Ondo to expand the reach of its flagship product USDY, a tokenized US Treasuries asset across multiple blockchains, Ethereum, Arbitrum and Mantle.
The USDY, which has gained rapid traction in crypto, currently has a market capitalization of over $452 million, making it the third largest US Treasury yield.
With over $600 million in total value locked (TVL), Ondo's portfolio of RWA products is now the largest in the crypto industry, offering an investor product backed by US Treasuries.
By integrating the LayerZero Omnichain Fungible Token Standard (OFT), Ondo can facilitate frictionless, cross-chain exchanges for USDY holders without the need to issue new tokens on different networks.
The use of LayerZero technology ensures that every RWA transfer is secured at an institutional level, through various decentralized authentication networks (DVNs) such as Axelar Network, Polyhedra Network and LayerZero Labs. This robust security infrastructure is designed to give institutional investors the confidence to seamlessly move their tokenized assets across interconnected blockchains.
The integration will allow USDY holders to easily move their tokens between chains, powered by LayerZero and Stargate Finance, Ondo's native bridge.
With plans to expand its integration beyond Ethereum, Arbitrum and Mantle, Ondo aims to expand greater access to US treasuries and increase the efficiency of decentralized finance (DeFi).
As Ondo continues to innovate in the RWA space, its partnership with LayerZero sets a new standard for secure, cross-chain interoperability, paving the way for more real-world asset market growth.
