Ondo Finance's USDY Crosses the Chain to Cosmos
CryptoNewsTerminal Staff22 Jul, 2024
Ondo Finance's USDY Crosses the Chain to Cosmos
USDY, the dollar-pegged stablecoin from Ondo Finance (ONDO) is making its way to Cosmos, bridging the gap between two of the most prominent blockchain ecosystems. As The Block reports, this integration will enable projects like Injective, Osmosis, Kujira, and Secret to seamlessly leverage USDY within their applications. Backed by a combination of US bonds and bank deposits, USDY has garnered significant traction since its launch, amassing a total value locked (TVL) of $300 million. Its expansion onto Cosmos further solidifies its position as a reliable and accessible stablecoin across multiple chains.