Ondo integrates LayerZero for multi-chain USDY support

Ondo Finance, a tokenized real-world asset platform, has built-in LayerZero’s interoperability protocol for multi-chain transfers of its tokenized property.

In accordance with an announcement, Ondo (ONDO) will faucet into LayerZero (ZRO)’s expertise to develop the attain of its U.S. Greenback Yield (USDY) stablecoin, a yield-bearing tokenized U.S. Treasuries asset with a market cap exceeding $452 million. USDY is presently the third-largest tokenized U.S. Treasuries product.

“Institutional-grade property demand safe and dependable interoperability to totally unlock the potential of blockchain expertise,” mentioned Nathan Allman, chief govt officer of Ondo Finance. “Our partnership with LayerZero ensures seamless cross-chain transactions, offering the sturdy infrastructure mandatory for establishments to confidently make their tokenized property accessible omnichain throughout interconnected blockchains.”

Ondo will make the most of LayerZero’s Omnichain Fungible Token Customary (OFT), which extends the performance of ERC-20 tokens for broader DeFi use. The combination ensures institutional-grade safety with verification supported by platforms like Polyhedra, Axelar, and LayerZero Labs.

Customers can now entry yield-bearing U.S. Treasuries with out minting new tokens on extra chains. Ondo’s USDY is totally interoperable throughout Ethereum, Arbitrum, and Mantle networks by way of this integration.

Ondo and LayerZero will develop the collaboration past the three initially-supported networks. Information from rwa.xyz exhibits that the tokenized real-world asset can also be obtainable on Solana, Sui and Aptos.

Per rwa.xyz, Ondo’s RWA merchandise have grown to 11 to carry the platform’s whole worth in yield-backed tokenized U.S. Treasuries to over $600 million. This positions Ondo forward of opponents like BlackRock tokenization associate Securitize, Hashnote, and Franklin Templeton Benji Investments.