- Ondo Finance integrates LayerZero for cross-chain transfers of USDY tokenized assets.
- USDY, backed by US Treasury bonds, has a total value of more than $600 million locked up (TVL).
- The integration ensures secure, seamless cross-chain transactions with LayerZero.
Ondo Finance, a leading platform in tokenized real-world assets (RWAs), has done just that announced the integration with LayerZero, an interoperability protocol designed to enable secure and seamless transfers across multiple chains.
This partnership will enable Ondo to expand the reach of its flagship yield-bearing product, USDY, a tokenized US Treasuries asset, across multiple blockchains including Ethereum, Arbitrum and Mantle.
USDY, which has quickly gained traction in crypto, currently boasts a market cap of over $452 million, making it the third largest tokenized US Treasuries product.
With a total value of over $600 million (TVL), Ondo’s suite of RWA products is now the largest in the crypto industry, offering investors returns backed by US Treasury bonds.
By integrating LayerZero’s Omnichain Fungible Token Standard (OFT), Ondo can facilitate frictionless, cross-chain transactions for USDY holders without the need to mint new tokens on different networks.
Using LayerZero’s technology ensures that every RWA transfer is protected with institutional-level security, supported by a diverse range of 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 move their tokenized assets seamlessly across interconnected blockchains.
The integration allows USDY holders to easily move their tokens between chains using Ondo’s proprietary bridge, which is powered by LayerZero and Stargate Finance.
With plans to expand integration beyond Ethereum, Arbitrum and Mantle, Ondo aims to further broaden access to tokenized US Treasuries and improve 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 further growth in tokenized real-world asset markets.
