tdacejke (tdacejke)

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The team at Noble Blockchain and Ondo Finance has launched Ondo US Dollar Yield (USDY) on Cosmos, marking the launch of the first native yielding US dollar stablecoin in its ecosystem, according to The Block. The move brings USDY - a stablecoin product and tokenized note secured by short-term U.S. Treasuries and U.S. bank demand deposits - natively to the Cosmos ecosystem's more than 90 application-specific blockchains. While USDY will be launched via the Noble blockchain, multiple other Cosmos chains and DeFi projects including Injective, Osmosis, Kujira, and Pyth will also utilize USDY. USDY allows global (non-U.S.) individual and institutional investors to gain access to the proceeds and lock in a combined value of over $300 million across multiple blockchains.

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