Ondo Finance introduces tokenized products to the Cosmos ecosystem

The RWA tokenization platform Ondo Finance has partnered with the Cosmos-based Noble chain to bring its tokenized products to Cosmos. Ondo is one of the largest participants in the tokenized national debt market, with $300 million in deposits. Ondo plans to issue its first asset locally through Noble, which is USDY, a tokenized note backed by short-term US Treasury bonds with an annual yield of 5.2%, with a target of the end of the second quarter of this year. USDY is currently available on Ethereum, Solana, Mantle, and Sui.

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