Grvt Invests $100M in Ondo Tokens Amid Tokenization Boom

Crypto exchange Grvt has partnered with Ondo Finance to invest $100 million in USDY, a tokenized instrument backed by short-term U.S. Treasury bonds and bank deposits.

This investment represents about 3.8% of the current USDY assets under management (AUM) of approximately $2.59 billion, distributed across eight networks.

The partnership aims to expand reach without directly entering the retail market and addresses the distribution challenge faced by Ondo Finance in scaling USDY.