BounceBit Teams Up With Ondo Finance to Tokenize Real-World Assets
Date: 2024-12-11 Author: Henry Casey Categories: BUSINESS
According to an update from BounceBit, this partnership is a major step in their 2025 strategy to combine real-world assets with decentralized finance. This approach allows for the creation of products with institutional-grade yields. The process of tokenizing real-world assets involves creating digital tokens on the blockchain that represent ownership shares in physical or financial assets, such as real estate, commodities, or bonds.
Ondo Finance, known for its tokenized US Treasury bonds, has already integrated over $600 million into blockchains supporting the BounceBit ecosystem. One of Ondo Finance’s key products is the USDY vault, which is based on US Treasury bonds. This product offers non-US users variable interest rates and daily liquidity.
Ondo Finance recently partnered with Wellington Management to increase the liquidity of its fund that tokenizes US Treasury bonds. The initiative digitizes the bonds on the blockchain, making them easier to access and manage.
The USDY vault provides a high level of security and monthly interest rate adjustments, highlighting BounceBit’s commitment to creating robust financial products that appeal to users from both the traditional and cryptocurrency worlds.
