Ondo Finance and Plume Network team up to expand RWAfi use cases

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As a seasoned analyst with years of experience navigating the dynamic landscape of blockchain technology and decentralized finance (DeFi), I find this partnership between Ondo Finance and Plume Network intriguing. The focus on real-world assets (RWA) and yieldcoins, particularly the expansion of Ondo’s U.S. Dollar Yield (USDY) across the Plume Network, is a strategic move that could significantly impact the DeFi sector.

Ondo Finance’s expertise in Treasuries-backed yieldcoins and Plume’s RWAfi-tailored infrastructure seem to be a perfect match, promising to simplify onboarding and capital integration. The native issuance of Ondo’s USDY on Plume is a step in the right direction, potentially bringing a 4.65% APY to the platform’s users while expanding access to the yieldcoin for global individual and institutional investors.

However, it’s important to note that this product is not offered to U.S. investors, which could limit its immediate impact in the local market. Nonetheless, the partnership offers a promising opportunity for the expansion of RWA use cases and contributes to the overall growth of DeFi.

The recent partnerships and integrations Plume has sealed, such as Google Cloud, Chateau Capital, and Credbull, along with its successful series A round, indicate a robust foundation for this collaboration. As the industry continues to evolve, I believe we’ll see more innovative partnerships like this one that push the boundaries of what’s possible in DeFi.

In a lighter note, I can’t help but chuckle at the thought of yieldcoins becoming the new “yield signs” on the digital highway of DeFi, guiding investors towards lucrative opportunities! It seems we’re moving from “Yield Street” to “Yield Cosmos” in the ever-expanding universe of decentralized finance.

Ondo Finance and Plume Network are joining forces, aiming to offer Ondo’s tokenized U.S. Treasury investments to a broader range of investors within the financial system focused on real-world assets.

Ondo Finance (ONDO) and the modular layer-1 blockchain for RWAfi Plume Network have formed a partnership, with the goal of increasing the availability of financial products like the Ondo U.S. Dollar Yield (USDY) within the Plume Network. This is according to both platforms, who share this ambitious objective.

Through joining forces, Ondo’s knowledge in Treasuries-linked yieldcoins and Plume’s RWAfi-customized infrastructure can make it easier for newcomers to join and integrate capital. The native issuance of Ondo’s USDY on Plume is an example of this simplification process.

In simple terms, the leading project by Ondo Finance, called USDY, ranks as the fourth most significant digital representation of U.S. treasury bonds, boasting a market value surpassing $450 million and being spread across eight different blockchain networks.

According to data from rwa.xyz, the current combined total value secured by Hashnote’s short-term yield token, BlackRock’s BUIDL, and Franklin Templeton’s Onchain U.S. Government Money Fund stand at approximately $1.8 billion, $621 million, and $554 million respectively.

Introducing USDY on Plume, Ondo will provide its users with a high 4.65% Annual Percentage Yield (APY). Additionally, they aim to broaden the reach of yieldcoin investments for both individual and institutional investors worldwide. However, it’s important to note that this product is not available for U.S. investors at this time.

Through this collaboration, we don’t only provide a chance to broaden the applications of RWA, but it also significantly boosts the development of DeFi. Katie Wheeler, Vice President of Partnerships at Ondo Finance, expressed in a statement that this partnership will be beneficial for the entire industry as a whole.

Wheeler stated that Plume is developing a network where many chances for RWA issuance arise, and it’s advantageous to have a flexible, income-generating asset to drive this economy. This benefits not only the usefulness of the asset but also the entire ecosystem as a whole.

The team behind Plume Network has recently established significant partnerships and integrations with notable entities such as Google Cloud, Chateau Capital, and the on-chain private credit platform Credbull. In its Series A funding round, Plume successfully secured $20 million, with backing from Brevan Howard Digital, Haun Ventures, and Galaxy Ventures.

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2024-12-30 22:06