• Ondo Finance integrates LayerZero for multi-chain transfers of USDY tokenized belongings.
• USDY is backed by US Treasuries and has over $600 million in whole worth locked (TVL).
• This integration ensures safe and seamless cross-chain transactions with LayerZero.

Ondo Finance, the main platform for tokenized real-world belongings (RWA), introduced an integration with LayerZero, an interoperability protocol designed to facilitate safe and seamless multi-chain transfers.

The partnership will allow Ondo to increase the attain of its flagship yield-generating product, USDY, a tokenized U.S. Treasury asset, throughout a number of blockchains together with Ethereum, Arbitrum, and Mantle.

A quickly gaining momentum within the cryptocurrency house, USDY at present boasts a market capitalization of over $452 million, making it the third largest tokenized U.S. Treasury instrument.

With over $600 million in whole worth locked (TVL), Ondo's suite of RWA merchandise is at present the most important within the cryptocurrency business, providing buyers yield backed by U.S. Treasuries.

By integrating LayerZero's Omnichain Fungible Token Customary (OFT), Ondo can facilitate frictionless cross-chain transactions for USDY holders with out the necessity to mint new tokens on a separate community.

Utilizing LayerZero's know-how, we be sure that every RWA switch is protected with institutional-grade safety, powered by a wide range of distributed verification networks (DVNs), together with Axelar Community, Polyhedra Community, and LayerZero Labs. This sturdy safety infrastructure is designed to allow institutional buyers to confidently transfer tokenized belongings seamlessly throughout interconnected blockchains.

This integration will enable USDY holders to simply transfer their tokens between chains utilizing Ondo's native bridge, powered by LayerZero and Stargate Finance.

Ondo plans to increase its integration past Ethereum, Arbitrum, and Mantle, aiming to additional increase entry to tokenized U.S. Treasuries and enhance effectivity in decentralized finance (DeFi).

As Ondo continues to innovate within the RWA house, our partnership with LayerZero units a brand new commonplace for safe cross-chain interoperability and paves the best way for additional progress within the tokenized real-world asset market.