Ondo and Partners Pitch $OUSG for Sky's $1 Billion Tokenization Grand Prix

Ondo Finance has teamed up with BlackRock and Securitize to participate in Sky's Spark Tokenization Grand Prix, an initiative aiming to onboard up to $1 billion of tokenized real-world assets. The proposal, called OUSG, would give SparkDAO and Sky access to a Treasury-backed RWA product while supporting portfolio diversification and liquidity.

OUSG is a tokenized US Treasury product that allows eligible investors onchain access to short-term government debt. It incorporates BlackRock's BUIDL infrastructure and supports 24/7 subscriptions and redemptions, subject to eligibility and transaction limits. Currently, OUSG has surpassed $600 million in total value locked and plans to expand its capacity to $50 million by year-end.

The proposal includes a liquidity facility supported by BlackRock, Securitize, and Circle, with Ondo seeking to add more liquidity facilities and stablecoin pairs including USDS. If successful, Sky could potentially unwrap OUSG into BUIDL for portfolio rebalancing, while OUSG could also act as a buyer of other suitable assets.