Ondo Finance launches tokenized US Treasuries, bonds for stablecoin holders – Crypto News – Crypto News
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Ondo Finance launches tokenized US Treasuries, bonds for stablecoin holders Ondo Finance launches tokenized US Treasuries, bonds for stablecoin holders

De-fi

Ondo Finance launches tokenized US Treasuries, bonds for stablecoin holders – Crypto News

Published

3 years ago

on

Haru Invest

DeFi firm Ondo Finance Launched a tokenized fund on Jan. 10 that allows stablecoin holders to invest in bonds and US Treasuries.

The firm offered three products: the US Government Bond Fund (OUSG), Short-Term Investment Grade Bond Fund (OSTB), and High Yield Corporate Bond Fund (OHYG). These products are short-term US treasuries and bonds in popular ETFs managed by firms like Blackrock and PIMCO.

OUSG offers an annual percentage yield (APY) of 4.62%, while OSTB offers a slightly higher APY of 5.45%. OHYG offers gains of 8.02% annually.

Meanwhile, Ondo Finance will charge a management fee of 0.15% annually.

CEO Nathan Allman said,

“One of our goals is to make it quick and easy for investors to convert back and forth between stablecoins and traditional assets, with an emphasis on highly liquid, low-risk products like short-term US Treasuries.”

Allman added that stablecoin holders, alongside DAOs and start-ups, will most likely benefit from his firm’s offering because it bridges the gap between low and risky on-chain yields with safer and higher-yielding alternatives.

Ondo raised $20M in a Series A round led by Peter Thiel’s Founders Fund and Pantera Capital in April 2022. The DeFi firm later raised an additional $10 million through public token sales in the same year.

Journalist at CryptoSlate

Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.

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