Crypto News: USDY Fund Launches on Sei Network as Ondo Finance Expands Tokenized Treasury Products
RWA Signal Insight
U.S. TreasuriesOndo Finance has officially launched its flagship USDY fund on the Sei Network, representing the first tokenized U.S. Treasury product to debut on this layer-1 blockchain. This expansion integrates USDY, which offers approximately 4.25% APY backed by short-term Treasurys and bank deposits, into the Sei ecosystem. The move highlights a deepening relationship between Ondo and World Liberty Financial, which maintains a significant holding of ONDO tokens. As one of the largest RWA projects with $1.4 billion in total value locked, Ondo is aggressively scaling its infrastructure through recent acquisitions, including blockchain developer Strangelove and broker-dealer Oasis Pro. Sei Network, known for its 400-millisecond block finality and parallel execution, continues to attract institutional interest, evidenced by strategic investments from Circle. Following the announcement, ONDO experienced a price surge of over 10%, trading at $1.04, while SEI traded at $0.36. This development underscores the growing trend of major RWA protocols diversifying across high-performance blockchains to increase accessibility and liquidity for tokenized yield-bearing assets.
Key points
- Ondo Finance launched USDY on Sei, the network's first tokenized Treasury product.
- USDY provides approximately 4.25% APY backed by short-term U.S. Treasurys and bank deposits.
- Ondo manages $1.4 billion in assets and recently acquired Strangelove and Oasis Pro.
- ONDO token price increased over 10% following the Sei Network integration announcement.
Background
Ondo Finance is a prominent real-world asset protocol that tokenizes yield-bearing financial instruments, such as U.S. Treasurys, to provide on-chain stability and returns. The protocol allows investors to access traditional financial products via blockchain technology, bridging the gap between institutional finance and decentralized markets. Sei Network is a high-performance, layer-1 blockchain optimized for trading, utilizing parallel execution to achieve rapid block finality.