Debut of the Initial Tokenized Treasury on Injective
In a groundbreaking development, Injective, a high-speed blockchain designed for Web3 finance applications, is now offering users the opportunity to acquire tokenized US Treasuries through the USD Yield token (“USDY”) from Ondo Finance. Ondo Finance, a pioneer in linking traditional financial assets to blockchain networks, currently has over $200 million worth of its tokenized US Treasuries in circulation.
Supported by major investors such as Pantera, Founders Fund, and Coinbase, Ondo exemplifies robust financial structuring and investor protections in the USDY token.
Expanding Real World Asset Tokenization with Injective
The USDY token is now cross-compatible between Ethereum and Injective, allowing Ethereum users to seamlessly transition to Injective and earn yields on tokenized treasuries.
This implementation marks a historic moment as it opens avenues for users across the broader Cosmos ecosystem to access tokenized treasuries by bridging USDY from Ethereum. Injective stands out as the primary hub in the Inter-Blockchain Communication (IBC) world for interacting with RWAs like USDY.
Users can access USDY through the Injective Hub by bridging it from Ethereum or through various native dApps on Injective, including Helix, the leading decentralized exchange on the network. Injective’s direct integration with major institutions on its chain ensures the highest levels of liquidity and capital efficiency for new assets such as RWAs.
Closing Thoughts
Real World Assets (RWAs) represent one of the fastest-growing categories in the crypto space today.
Injective’s strategic expansion into the RWA industry underscores its ongoing commitment to democratizing finance for all. The on-chain interaction with USDY serves to dismantle traditional barriers in the world of finance, marking a significant step towards a more inclusive and secure financial landscape.