Ondo Finance Invests $25M in Figure Stablecoin
Ondo Finance has allocated $25 million into YLDS, a yield-bearing stablecoin issued by Figure Technology Solutions, to diversify the backing of its tokenized U.S. Treasury fund. This move marks a strategic shift for Ondo, moving beyond traditional asset manager products to incorporate on-chain stablecoin assets. Figure, which operates on the Provenance blockchain, has originated over $19 billion in loans, including home-equity and mortgage products. This integration highlights the growing trend of institutional-grade protocols utilizing on-chain assets to enhance liquidity and yield generation. Simultaneously, Ondo has expanded its reach by launching tokenized stocks on the BNB Chain and securing regulatory approval from the Liechtenstein Financial Market Authority. These developments underscore the increasing convergence between traditional financial infrastructure and decentralized finance. The broader market is seeing a surge in crypto-collateralized lending, with major players like Tether, Ledn, and Coinbase also expanding their respective loan offerings.
