Ondo Finance’s USDY to launch on Sei Network

Ondo Finance is expected to launch its USDY tokenized Treasury Product on SEI, adding to a growing list of supported networks which includes Ethereum, Solana, Mantle et Su.

According to a press release shared with Crypto.News, the flagship product of the US Treasury of Ondo Finance, the yield of the United States dollar (USDY), is launched on the SEI (BE) Network. This marks the first time that a Treasury-Trésor Treasury Table Product in Tokenized will be natively integrated into the ultra-fast layer 1 Blockchain with TVL exceeding the growth of $ 670 million and 821% in annual shift.

USDY, which combines the accessibility of stablecoins with the performance and protections of traditional finance investors, currently has a market capitalization of more than $ 681 million and offers a 4.25%APY, updated monthly. With SEI integration, global (non -American) users have access to a high -quality composable return directly on a blockchain known for its parallelized execution and its close purpose.

“SEI’s revolutionary infrastructure with an almost instantaneous purpose and parallelized execution makes it particularly suitable for institutional quality financial products, and USDY represents the exact type of high -quality Onichain applications,” said Justin Barlow, Executive Director of the SEI Development Foundation.

Usdy’s expansion to Sei is part of a wider multi -hole strategy. The token is already alive in several major blockchains, notably Ethereum (Ethn), which holds 63.46% of the supply of USDY, according to Parade. Solana (GROUND) follows with 25.9%, while the coat (Mnt) represents 3.93%, sui (Sui) holds 2.56% and other networks, including the Aptos (Fit), Osmosis (Osmo) and the referee (ARB) collectively accommodate smaller portions.

It should also be noted that Usdy is now fully fungible through Ethereum, Mantle and Arbitrum – eliminating the need for packaging or exchange between the channels – depending on the CLOSEZERO integrationis Omnichain standard in November of last year. The management of additional networks is planned.