Ondo Finance, a platform for tokenized real-world assets, has integrated LayerZero’s interoperability protocol to facilitate multi-chain transfers of its tokenized assets
An statement states that Ondo will use LayerZero’s technology to broaden the market reach of its U.S. Dollar Yield (USDY) stablecoin. This yield-bearing tokenized asset is worth more than $452 million. The third-largest tokenized U.S. Treasury instrument at the moment is USDY.
“To fully realize the potential of blockchain technology, institutional-grade assets require secure and dependable interoperability,” stated Nathan Allman, CEO of Ondo Finance. “We guarantee smooth cross-chain transactions through our partnership with LayerZero, which offers the strong infrastructure required for organizations to confidently make their tokenized assets available omnichannel across interconnected blockchains.”
LayerZero’s Omnichain Fungible Token Standard (OFT), which expands the capabilities of ERC-20 tokens for more comprehensive DeFi applications, will be used by Ondo. The integration guarantees institutional-grade security with platforms like Polyhedra, Axelar, and LayerZero Labs supporting verification.
Users don’t need to generate new tokens on extra chains to access yield-bearing U.S. Treasuries. This integration makes Ondo’s USDY utterly compatible with the Ethereum, Arbitrum, and Mantle networks.
The partnership between Ondo and LayerZero will be extended beyond the three networks that were initially supported. According to data from RWA, the tokenized real-world asset is also accessible on Solana, Sui, and Aptos. XYZ.
According to Rwa.XYZ, Ondo now offers 11 RWA products, increasing the platform’s total yield-backed tokenized U.S. Treasury value to over $600 million. This puts Ondo ahead of rivals like Hashnote, Franklin Templeton Benji Investments, and Securitize, a tokenization partner of BlackRock.
