Tokenized Treasuries: Ondo vs. Maple
Ondo’s Yield Products

USDY: Short-term Treasury ETF alternative offering 5%+ yield, attracting $500M+ inflows.

Access: Targets retail via DeFi (Aave, Morpho) but lacks secondary market depth.

Maple’s Institutional Push

RWA Pools: $1B+ in corporate/T-bill loans, with Coinbase Prime custody easing entry for funds.

Hurdles: Minimums ($250K+) limit retail; slower settlement than Ondo.

Growth Drivers
Fed rate cuts may shrink yields, but demand for on-chain Treasuries persists—especially in Asia.