KEY TAKEAWAYS
- Ondo Finance’s USDY, a tokenized note backed by US Treasuries, is now available on the ICRYPEX platform.
- USDY offers a 4.29% APY and has over $680 million in total value locked across multiple blockchains.
- This launch allows ICRYPEX users to access treasury-backed yields, aligning with Ondo Finance’s mission to democratize financial products.
Ondo Finance has announced that its Ondo US Dollar Yield (USDY), a tokenized note backed by short-term US Treasuries, is now available on ICRYPEX, a leading digital asset platform. This development introduces one of the most popular yieldcoins, measured by both the number of holders and total value locked (TVL), to the users of ICRYPEX.
USDY currently boasts over $680 million in TVL across multiple blockchains and offers an annual percentage yield (APY) of 4.29%, which is updated monthly. This product enables global (non-US) individual and institutional investors to benefit from the stability of stablecoins while enjoying an attractive yield and the investor protections typically associated with traditional finance.
ICRYPEX Users Gain Access to Treasury-Backed Yields
The inclusion of USDY on ICRYPEX allows users to gain exposure to daily yields collateralized by US Treasuries. This aligns with Ondo Finance’s mission to democratize access to institutional-grade financial products and services. By offering such products, Ondo Finance aims to facilitate the transition to an open economy by integrating financial markets onto blockchain platforms.
ICRYPEX, known for its commitment to making cryptocurrency trading accessible and secure, continues to expand its ecosystem to meet the evolving needs of the market. The platform provides a wide range of crypto services, including buying, selling, and managing digital assets, catering to users in Turkey and beyond.
The launch of USDY on ICRYPEX was announced here.
Why This Matters: Impact, Industry Trends & Expert Insights
Ondo Finance has launched its Ondo US Dollar Yield (USDY), a tokenized note backed by short-term US Treasuries, on the ICRYPEX platform, expanding access to tokenized treasury products.
Recent industry reports indicate a major trend of institutional adoption and technological advancements in tokenized treasury assets. This aligns with the launch of USDY on ICRYPEX, as it reflects the growing interest from both retail and institutional investors in tokenized financial products.
A report by AInvest highlights that Treasury-backed stablecoins are significantly impacting financial markets by expanding demand for short-term government debt. This supports the significance of USDY’s launch on ICRYPEX, as it contributes to the broader adoption and integration of tokenized treasury notes in global markets.
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