Ondo Finance integrates LayerZero for multi-chain transfers of USDY tokenized assets. USDY is backed by US Treasuries and has over $600 million in total value locked (TVL). This integration ensures secure and seamless cross-chain transactions with LayerZero.
Ondo Finance, the leading platform for tokenized real-world assets (RWA), announced an integration with LayerZero, an interoperability protocol designed to facilitate secure and seamless multi-chain transfers.
This partnership will enable Ondo to expand the reach of its flagship yield-generating product, USDY, a tokenized U.S. Treasury asset, across multiple blockchains including Ethereum, Arbitrum, and Mantle.
USDY, which is rapidly gaining momentum in the cryptocurrency space, currently boasts a market capitalization of over $452 million, making it the third largest tokenized U.S. Treasury instrument.
With over $600 million in total value locked (TVL), Ondo’s suite of RWA products is currently the largest in the cryptocurrency industry, offering investors yield backed by U.S. 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 a separate network.
LayerZero’s technology ensures that each RWA transfer is protected with institutional-grade security, powered by a variety of distributed verification networks (DVNs), including Axelar Network, Polyhedra Network, and LayerZero Labs. This robust security infrastructure is designed to enable institutional investors to confidently move tokenized assets seamlessly across interconnected blockchains.
This integration will allow USDY holders to easily move their tokens between chains using Ondo’s native bridge, powered by LayerZero and Stargate Finance.
Ondo plans to expand its integration beyond Ethereum, Arbitrum, and Mantle, aiming to further expand access to tokenized U.S. Treasuries and increase efficiency in decentralized finance (DeFi).
As Ondo continues to innovate in the RWA space, our partnership with LayerZero sets a new standard for secure cross-chain interoperability and paves the way for further growth in the tokenized real-world asset market.
