The true-world asset protocol can be introducing prompt subscriptions and redemption for its OUSG tokenized fund.
Ondo Finance, a real-world asset (RWA) protocol with $220 million in whole worth locked (TVL), plans to reallocate nearly all of belongings in its tokenized U.S. Treasuries fund OUSG into BlackRock’s not too long ago launched USD Institutional Digital Liquidity Fund (BUIDL).
Its flagship OUSG fund has $88 million in belongings and offers liquid publicity to short-term U.S. Treasuries. Based on the mission, BlackRock’s embrace of securities tokenization validates ONDO Finance’s authentic idea of a tokenized US Treasury fund and reinforces the idea that the tokenization of conventional securities on public blockchains represents the following evolution in monetary markets.
Asset administration behemoth Blackrock launched BUIDL on Ethereum earlier in March, and it has already amassed $245 million of belongings, making it the second-largest tokenized Treasury product, in response to rwa.xyz.
Prompt Settlement
Ondo can be launching prompt subscriptions and redemptions for OUSG in response to its shoppers’ rising demand for quicker settlement processes. Historically, OUSG redemptions have taken just a few enterprise days as a result of settlement occasions of the underlying securities.
Moreover, Ondo will introduce a brand new rebasing model of OUSG referred to as rOUSG, which can have a hard and fast $1.00 per share mint/redeem worth and every day yield distributions within the type of extra rOUSG tokens.
The protocol’s ONDO token has been a significant beneficiary of the continued tokenized RWA growth, surging greater than ten-fold since launching in January.
ONDO instructions a market capitalization of $1.3 billion as of March 28.
