Ondo Finance Expands Tokenized U.S. Treasurys to Polygon Network
Ondo Finance Expands Tokenized U.S. Treasurys to Polygon Network
Ondo Finance, a leading platform for tokenized U.S. Treasurys on the Ethereum blockchain, has recently expanded its offerings to the Polygon network. This strategic move comes as demand for tokenized versions of traditional financial instruments continues to grow among investors.
The company has introduced its OUSG token, a tokenized version of BlackRock’s short-term U.S. government bond exchange-traded fund (ETF), on the Polygon network. This expansion is part of a partnership between Ondo Finance and Polygon, aimed at providing investors with more opportunities to access tokenized assets and decentralized financial products.
In addition to the OUSG token, Ondo Finance plans to bring its upcoming yield-generating stablecoin alternative, OMMF, and the decentralized lending marketplace Flux Finance to Polygon, pending governance approval. These offerings will provide investors with new ways to earn yields and access liquidity in the decentralized finance (DeFi) space.
The tokenization of real-world assets (RWAs) is a rapidly growing trend, with Bernstein forecasting a market value of $5 trillion for tokenized assets in the next five years. Tokenized Treasurys alone have grown to a $600 million market, with Ondo Finance’s OUSG token accounting for a significant share of $140 million since its launch in January.
Flux Finance, a decentralized lending platform developed by Ondo’s team and governed by a decentralized autonomous organization (DAO), allows investors to take out loans by pledging OUSG as collateral. The platform currently has $44 million of total value locked, according to DefiLlama.
The expansion to the Polygon network is a significant step for Ondo Finance in bridging the gap between DeFi and institutional-grade finance. Polygon, a layer-2 scaling network of Ethereum, enables faster and cheaper transactions compared to the Ethereum mainnet, while still leveraging Ethereum’s security.
By offering tokenized U.S. Treasurys and other financial products on Polygon, Ondo Finance is providing investors with more opportunities to participate in the growing DeFi ecosystem. This strategic move is set to further accelerate the adoption of tokenized assets and decentralized financial products in the market.
In conclusion, Ondo Finance’s expansion to the Polygon network marks a pivotal moment in the evolution of tokenized assets and decentralized finance. With the introduction of new products and offerings on Polygon, Ondo Finance is poised to play a key role in shaping the future of DeFi and institutional-grade finance.
Source: [Coindesk](https://www.coindesk.com/markets/2023/07/13/real-world-asset-platform-ondo-finance-expands-tokenized-treasurys-to-polygon/?utm_medium=referral&utm_source=rss&utm_campaign=headlines)
