Ondo Finance said that its U.S. Dollar Yield Token, USDY, is now live on BNB Chain with native support, instant minting and redemptions, and cross-chain bridging. The launch makes Treasury-backed dollar yield directly accessible inside BNB Chain’s DeFi ecosystem without requiring users to route assets through another network.
USDY is backed by short-term U.S. Treasuries, government-securities funds and cash instruments, according to Ondo. Eligible non-U.S. individuals and institutions can access the token through services including PancakeSwap, 1inch, Ledger, Trust Wallet, Li.Fi, CowSwap and LayerZero, while instant issuance and redemption are designed to improve capital efficiency.
Developers can integrate USDY as collateral, a treasury asset or a yield primitive for lending, trading and liquidity strategies. The deployment extends the token’s multichain footprint and gives BNB Chain applications another real-world asset component, leaving DeFi integration and sustained on-chain usage as the next measures of adoption.
Source: Ondo Finance.
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