Grvt Builds $100M Position in Tokenized Bond

Grvt, a CeDeFi platform, has partnered with Ondo Finance to build a $100 million position in USDY, a tokenized bond backed by U.S. Treasury securities.

The partnership involves integrating USDY into Grvt Earn, the platform's yield product, which will manage the asset directly on its own balance sheet.

This means users do not need to acquire or manage the token themselves, and returns generated are channeled into the single base rate that users already receive.

Grvt aims to scale its USDY position to $100 million within a year, backing Grvt Earn with institutional-grade US Treasuries through the partnership.