Official announcements from Ondo Finance or major centralized exchanges

Ondo Finance Leads RWA Tokenization with $536M TVL, Launches $USDY on Arbitrum

Aug 28, 2024, 03:59 AM

Ondo Finance has emerged as a leader in the decentralized finance (DeFi) sector, focusing on the tokenization of real-world assets (RWA). The company has achieved a total value locked (TVL) of $536 million, positioning itself as a key player in bridging traditional financial assets with blockchain technology. Ondo's stablecoin and U.S. Treasury products have amassed over $500 million, reflecting significant growth in the RWA market, which has a current market cap of $120 billion. The launch of Ondo's USDY yield coin on the Arbitrum blockchain and its availability on CamelotDEX further underscore its commitment to expanding its DeFi offerings. This development is part of a broader trend in the RWA market, which is projected to reach between $3.5 trillion and $16 trillion, with some estimates as high as $60 trillion over the next decade. Ethereum remains the predominant blockchain for RWA issuance, although Avalanche is gaining traction.