Ondo Finance Expands into Sui Ecosystem, Bringing Native Access to Tokenized Assets

Ondo Finance is expanding into the Sui ecosystem, bringing with it a new native dollar-denominated token called Ondo USD Yield (USDY). This token is backed by US treasuries and is interest-bearing, making it the first of its kind on the Sui Network. Ondo Finance is the third-largest platform to bring tokenized derivatives of real-world assets onto public blockchains, with over $185 million in TVL and $1 billion worth of its newly-launched governance token trading in its first week in late January. The integration of Ondo's tokenized assets, including stablecoins, tokenized securities, and real-world assets, will create new opportunities for teams building on Sui.