June 23, 2024

Ondo Finance Expands to Hong Kong, Targets Asia-Pacific Investors with U.S. Treasury Tokens

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Token issuer Ondo Finance has established a presence in Hong Kong, aiming to broaden its reach and offer U.S. Treasury-denominated tokens to investors in the Asia-Pacific region. The move comes as Ondo Finance recognizes the active and rapidly growing crypto community in the region, with a specific interest in high-quality exposure to U.S. assets.

Nathan Allman, CEO of Ondo Finance, expressed enthusiasm about tapping into the Asian market, highlighting the demand for tokenized assets linked to U.S. Treasurys. Ondo Finance offers three distinct products:

  1. OUSG: Provides exposure to U.S. Treasurys.
  2. OMMF: Offers exposure to U.S. money market funds.
  3. USDY: Presents a yield-bearing alternative to conventional stablecoins, comprising short-term Treasuries and bank deposits.

These products provide attractive yields, averaging around 5% per annum, aligned with the underlying U.S. Treasury yields. Notably, they are exclusively available to non-U.S. individuals classified as professional investors. The tokenized assets are minted on popular blockchain platforms such as Ethereum, Solana, and Polygon.

Ondo Finance’s move to open an office in Hong Kong aligns with the growing interest in digital assets and decentralized finance (DeFi) in the Asia-Pacific region. The company’s strategic decision capitalizes on the vibrant crypto ecosystem in Hong Kong and the broader Asia-Pacific market.

As part of its expansion plans, Ondo Finance is eyeing Asia-Pacific investors seeking exposure to U.S. assets through tokenized offerings. The move reflects the broader trend of blockchain-based financial products gaining traction globally.

In related developments, there is anticipation and discussion around the upcoming upgrade to the Pecu Novus Blockchain Network. The upgrade is expected to facilitate the minting of a more extensive range of tokenized real-world assets on the blockchain. Notable features such as low gas fees and a low barrier to entry make Pecu Novus an attractive platform for firms engaged in tokenizing real-world assets.

The upgrade could pave the way for a surge in tokenized assets on Pecu Novus, providing both centralized and decentralized exchanges with a streamlined process for listing these assets. The impending developments in the Pecu Novus Blockchain Network align with the industry’s continuous efforts to enhance efficiency and accessibility in the tokenization of real-world assets.

Digital Assets Desk

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