Hassan Maishera
On Tuesday, the Ondo Finance team announced via X that its USDY yield coin has launched on the Arbitrum blockchain. With over $350m in TVL across 8 blockchains, USDY enables global (non-US) individual and institutional users on Arbitrum to now access the utility of stablecoins combined with yield and institutional-grade investor protections like those in traditional finance.
Users will be able to deploy USDY into the borrowing and lending platform and tap into Dolomite-native lending yield, combining two sources of yield for depositors.
Ondo Finance is a financial protocol focused on the RWA track. At this stage, its main business is to tokenize high-quality assets such as U.S. Treasury bonds and money market funds within a compliance framework to facilitate users' investments and transactions on the blockchain.
Arbitrum is a suite of scaling solutions on Ethereum that utilize Optimistic Rollup. It allows users to enjoy faster speed and cheaper transaction costs when interacting with web3 dApps. ARB, the native coin of the Arbitrum network, is up 1% today and is trading at $0.5275.
