President Donald Trump’s new decentralized finance (DeFi) project is partnering with real-world asset (RWA) tokenization protocol Ondo Finance (ONDO) to boost RWA adoption.
In a new thread on the social media platform X, the development team behind Ondo Finance says it’s collaborating with World Liberty Financial (WLFI) as a means of bringing traditional finance to the world of blockchains.
According to Ondo, WLFI is adding Ondo’s tokenized assets – such as the stablecoin Ondo US Dollar Yield (USDY) and the Ondo Short-Term US Treasuries Fund (OUSG) – into its network as treasury reserve assets.
Furthermore, WLFI is planning on integrating USDY, OUSG and other tokenized securities from Ondo’s upcoming global markets into its network as a means of enabling seamless borrowing, lending, and margin trading for eligible customers.
“Through this collaboration, World Liberty Financial plans to become a strategic collaborator in Ondo’s journey to scale Ondo Global Markets, a platform designed to enable the tokenization of traditional financial assets like stocks and bonds.”
As stated by Donald Trump Jr., the “Web3 Ambassador” at WLFI,
“Our collaboration with Ondo Finance marks a significant step forward in aligning traditional financial systems with blockchain innovation. By integrating Ondo’s tokenized assets, we’re providing our network with access to traditional financial assets and new yield opportunities.”
Current data from blockchain intelligence firm Arkham shows that WLFI currently holds about $465,000 worth of ONDO.
ONDO is trading for $1.37 at time of writing, a 1.6% increase during the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Follow us on X, Facebook and Telegram
Featured Image: Shutterstock/Natalia Siiatovskaia/Tithi Luadthong
Read the full article here