Injective has partnered with institutional-grade crypto protocol, Ondo Finance, to enable access to Treasury bonds on the blockchain.
Through this partnership, Injective and Ondo Finance aim to revolutionize traditional finance and Web3 by providing a bridge for users to more easily access tokenized real-world assets (RWA).
On their social media, the creators of Injective highlighted the partnership with Ondo Finance as a milestone for the network and Web3 finance. The Ondo Finance protocol, created by former Goldman Sachs partners, is one of the leaders in the blockchain world in interconnection with the traditional finance space.
To date, this protocol has tokenized US Treasury bonds worth $200 million of dollars on the blockchain. These bonds are accessible to crypto-native users through the US Dollar Yield (USDY) token, issued by Ondo Finance.
Injective makes its way into tokenized real-world assets (RWA)
Tokenized assets on the blockchain are gaining popularity, becoming “one of the fastest-growing categories in the cryptocurrency world,” Injective’s developers noted.
On the other hand, Ondo Finance CEO Nathan Allman pointed out that tokenized assets have become one of the most sought-after needs by investors today, who want to take advantage of the potential and advantages offered by blockchain technology and digital assets.
Therefore, through USDY, Ondo Finance seeks to provide a mature financial structure that provides investors with a safe entry into the blockchain world and, at the same time, the possibility of obtaining returns on Treasury bonds tokenized on the chain, in order to meet their growing needs.
In addition to this, by tokenizing Treasury bonds, Ondo Finance also contributes to expanding the crypto ecosystem, driving the vision of “a more inclusive and secure financial landscape,” Allman said.
Building a more interoperable financial ecosystem
Being built on Cosmos, the Injective network is, for the first time, opening the door for users across the Cosmos ecosystem to access tokenized Treasury bonds, either by connecting the USDY token to Injective from the Ethereum network via Injective Hub or by using Injective-native decentralized applications such as Helix directly.
“Injective continues to pave the way for truly connecting traditional finance with the blockchain world.”
Injective developers commented that, thanks to the tokenization of Treasury bonds, the network is consolidating itself as one of the most innovative projects in the crypto space, both in terms of speed, scalability and interoperability, as well as in the tokenization of real-world assets or RWA.
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