Ondo Finance Teams Up with BlackRock and Securitize for Sky's $1 Billion Tokenization Initiative

Ondo Finance has teamed up with financial giant BlackRock and securitization platform Securitize to submit a proposal for Sky's $1 billion tokenization initiative. The proposal, which is part of the Spark Tokenization Grand Prix, suggests using OUSG as a way for SparkDAO and the wider Sky ecosystem to diversify its RWA holdings while gaining access to onchain liquidity and Treasury exposure.

OUSG currently supports instant subscriptions and redemptions of up to $25 million per day, with capacity planned to expand to $50 million by year-end. It also offers daily interest accruals, low fees, rebasing and non-rebasing options and access across Ethereum and Solana.

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 approved, the Sky ecosystem could potentially unwrap OUSG into BUIDL for portfolio rebalancing, while OUSG could also act as a buyer of other suitable assets.