Ondo Finance's flagship product, USD yield token (USDY), is now live on the Sei network.

ChainCatcher message, USDY is the first tokenized US Treasury on Sei, providing users with a composable, yield-generating asset backed by US Treasuries. As one of the most widely used tokenized Treasury assets, with a market cap of over $1.28 billion, ONDO USDY introduces an institutionally recognized asset into Sei’s high-performance platform.

USDY unlocks complex use cases for users in payments, savings, collateral, and DeFi. Ondo, together with institutions like BlackRock, Apollo, Hamilton Lane, and Nomura, brings tokenized assets to Sei’s high-performance platform.