Ondo

OUSG

PayPal USD

Optimism

BlackRock

Ondo Finance has introduced instant conversions between its tokenized short-term U.S. treasuries fund and the stablecoin PayPal USD.
According to an <a href="https://blog.ondo.finance/introducing-24-7-conversions-between-ousg-and-paypal-usd-pyusd/" target="_blank" rel="noopener noreferrer nofollow">announcement</a>, investors will soon be able to convert in and out of Ondo’s (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/ondo/">ONDO</a>) core product – the Ondo Short-Term U.S. Government Treasuries. Investors will access this through PayPal USD (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/pyusd/">PYUSD</a>).
Ondo’s <a rel="noopener noreferrer nofollow" href="https://crypto.news/ondo-price-boosted-by-rising-assets-ousgs-sky-application/">OUSG</a> is a tokenized U.S.treasuries fund that has its portfolio largely in the BlackRock USD Institutional Digital Liquidity Fund.
The integration comes just a day after PayPal <a href="https://x.com/PayPal/status/1856492017032860002" target="_blank" rel="noopener noreferrer nofollow">announced</a> that users can now move PYUSD across Ethereum and Solana via LayerZero.
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With the launch of the feature, PYUSD holders will get the opportunity to invest into or exit their OUSG positions. This service will be available 24/7 and targets improving the fund’s redemption liquidity as well as the stablecoin’s utility across the real-world assets market.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “Allowing conversions between OUSG and PYUSD enhances our offerings, expanding our clients’ choice in reliable and high-quality settlement solutions that allows them to keep more of their assets onchain. We are excited to be at the nexus of the convergence between traditional finance and DeFi,” said Nathan Allman, chief executive officer of Ondo Finance.
</blockquote>
Ondo’s introduction of the instant conversions between PYUSD and OUSG comes as the tokenized real-world assets space marks a period of accelerated adoption. Products such as OUSG and BUIDL are seeing increased interest as qualified investors seek new opportunities with crypto and RWAs.
Investors look to these products as they offer tokenized cash equivalents and present low risk but high yield from money market funds and U.S. treasuries.
According to <a href="https://app.rwa.xyz/treasuries" target="_blank" rel="noopener noreferrer nofollow">RWA.xyz</a>, the global tokenized U.S. treasuries market has grown from just over $100 million at the start of 2023 to over $2.3 billion.
Meanwhile, the total RWA on-chain market currently stands at over $13.1 billion, with growth coming as issuers such as BlackRock and Franklin Templeton expand core products to multiple blockchain networks.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/blackrocks-buidl-joins-aptos-arbitrum-avalanche-optimism-and-polygon/"> BlackRock’s BUIDL joins Aptos, Arbitrum, Avalanche, Optimism and Polygon </a>

Ondo introduces 24/7 conversions between PayPal USD and OUSG

crypto.news

Other articles published on Nov 15, 2024

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