Ondo Finance Brings Tokenized Treasury to Sei Network
Ondo Finance has made a significant move by launching its flagship USDY fund on the Sei Network. This marks the first tokenized Treasury product on the layer-1 blockchain, strengthening ties between Ondo and World Liberty Financial, which holds ONDO tokens as its 12th-largest position.
The USDY fund combines stablecoin stability with approximately 4.25% APY through backing by short-term U.S. Treasurys and bank deposits. Ondo manages 1.4 billion in assets, making it one of the largest real-world asset projects by total value locked.
The move also highlights the growth of the Sei Network, which has achieved 400-millisecond block finality through parallel order execution and raised 30 million in Series A funding in 2023. Circle has made a strategic investment in Sei and bridged its USDC stablecoin to the network.