Ondo Finance and Plume Network Join Forces to Expand RWAfi Use Cases

Ondo Finance has partnered with Plume Network to extend the reach of its tokenized U.S. Treasury products across the real-world asset finance (RWAfi) ecosystem. This collaboration seeks to provide broader access to Ondo's flagship offerings, such as the U.S. Dollar Yield (USDY), through Plume's modular layer-1 blockchain infrastructure.
Enhancing Accessibility in RWAfi
The partnership aims to simplify onboarding processes and streamline capital integration for investors. By issuing Ondo's USDY natively on Plume, the initiative looks to bring the benefits of Treasuries-backed yieldcoins to a wider audience.
USDY, currently the fourth-largest tokenized U.S. Treasuries product, boasts over $450 million in value across eight blockchains. It follows prominent competitors like Hashnote’s short-duration yield coin ($1.8 billion TVL), BlackRock’s BUIDL ($621 million TVL), and Franklin Templeton’s Onchain U.S. Government Money Fund ($554 million TVL), as reported by rwa.xyz.
Launching USDY on Plume will allow users to access its 4.65% APY, opening opportunities for global individual and institutional investors. However, Ondo's USDY remains unavailable to U.S. investors due to regulatory constraints.
Bolstering DeFi and RWA Adoption
This collaboration underscores the potential for RWA use cases to contribute to the growth of decentralized finance (DeFi). Katie Wheeler, vice president of partnerships at Ondo Finance, emphasized the industry-wide benefits of this partnership, citing its potential to drive innovation and adoption.
Plume Network’s recent strides include partnerships with Google Cloud, Chateau Capital, and Credbull, an on-chain private credit platform. These efforts, coupled with its $20 million Series A funding from Brevan Howard Digital, Haun Ventures, and Galaxy Ventures, position Plume as a key player in the RWAfi space.
The Road Ahead
By combining Ondo’s expertise in Treasuries-backed yieldcoins and Plume’s advanced blockchain infrastructure, the partnership offers a promising pathway for expanding RWA applications and driving DeFi innovation. As the adoption of tokenized assets continues to grow, this collaboration is set to play a significant role in shaping the future of RWAfi.
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