- Ondo Finance integrates LayerZero for multi-chain transfers of USD tokenized assets.
- USDY, which is backed by US Treasuries, has more than $600 million in total value locked (TVL).
- The integration ensures secure and seamless cross-chain transactions with LayerZero.
Ondo Finance, a leading platform for tokenized real assets (RWAs), has done just that Announce Its integration with LayerZero, an interoperability protocol designed to facilitate secure and seamless multi-chain transfers.
This collaboration will allow Ondo to scale its flagship yield-bearing product, USDY, a US Treasury asset, across multiple blockchains, including EthereumThe Arbitrum and Mantle.
USDY, which has been rapidly gaining traction in the cryptocurrency space, currently has a market capitalization of over $452 million, making it the third-largest token producer of US Treasuries.
With over $600 million in total value locked (TVL), Ondo RWA's product suite is now the largest in the cryptocurrency industry, offering investors a yield backed by US Treasuries.
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 technology ensures that every RWA transfer is secured with enterprise security, supported by a variety of decentralized verification 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 across interconnected blockchains seamlessly.
The integration also allows USDY holders to easily transfer their tokens between chains using the native Ondo Bridge, which is powered by LayerZero and Stargate Finance.
With plans to expand integration beyond Ethereum, Arbitrum, and Mantle, Ondo aims to expand access to US Treasury tokens and boost the efficiency of decentralized finance (DeFi).
As Ondo continues to innovate in the RWA space, the partnership with LayerZero sets a new standard for secure cross-chain interoperability, paving the way for further growth in real tokenized asset markets.