Plume Network and Ondo Finance have partnered to integrate Ondo’s USDY token into Plume’s blockchain ecosystem, enabling global access to Treasury-backed yields of 4.65% APY.
A strategic partnership between Ondo Finance and Plume Network has been announced with the objective of enhancing real-world asset finance (RWAfi) through blockchain technology.
Plume’s blockchain ecosystem will incorporate Ondo’s USDY, a tokenized US Treasury product that manages over $450 million in assets, into the collaboration. This will provide global investors with access to Treasury-backed yields, which are presently at 4.65% APY.
Increasing Opportunities through the Integration of USDY
Plume, the first completely integrated and modular layer-1 blockchain designed for RWAfi, has become a leader in the field. It provides blockchain tools for tokenizing assets and connecting with capital and compliance providers.
Plume offers a secure and efficient platform for individuals who are dedicated to RWAfi, with more than 180 projects currently in development.
Plume’s CEO, Chris Yin, emphasized that the organization’s objective is to establish a financial ecosystem that streamlines the trading of tangible assets.
He clarified that the platform will be further expanded by incorporating Ondo, which will provide investors with additional diversification options across RWAs and accelerate progress for RWAfi-focused entities.
“Our mission at Plume is to construct a composable financial ecosystem that enables seamless trading of real world assets. Integrating Ondo into our ecosystem allows us to offer investors a comprehensive platform for investment diversification across various RWAs, further accelerating the development process for RWAfi-focused entities.”
Stabilizing the RWAfi Ecosystem through Blockchain Solutions and Expert Teams
The objective of Ondo Finance is to ensure that all individuals have access to high-quality financial solutions by integrating blockchain technology with conventional finance practices, such as investor protections and compliance. The partnership will broaden USDY’s function in the RWA ecosystem by providing a yield-bearing asset and new opportunities for issuers and users.
Katie Wheeler, the Vice President of Partnerships at Ondo, indicated enthusiasm for the prospect of incorporating their US Treasury products into the Plume ecosystem.
She stated that Plume is establishing a network of opportunities for issuing RWAs and that the introduction of a composable, yield-generating asset such as USDY will improve the utility of the asset and benefit the entire ecosystem. Katie declared:
“We are excited to integrate our US Treasuries products into the Plume ecosystem, given the clear success of RWAfi being shepherded by the Plume Network. Plume is creating a network effect of opportunities for RWA issuance, and having a composable, yield-bearing asset to power this economy is a boon for both the asset utility and the ecosystem as a whole.”
Ondo Finance and Plume Network both have teams that are composed of professionals with several years of experience at prestigious institutions such as J.P. Morgan, BlackRock, Goldman Sachs, McKinsey & Co., Coinbase, Robinhood, LayerZero, Binance, and dYdX.
This proficiency equips the partnership with the strategic acumen and technical abilities required to satisfy the expanding requirements of the RWAfi ecosystem.
This partnership is indicative of a shared dedication to increasing the accessibility of institutional-grade financial products. It merges Plume’s innovative blockchain solutions with Ondo’s expertise in decentralized finance.
