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ACA(India), MIPA(Aust.), AFA(IFA-UK), ASA (Aust.)

Ondo Finance Plans Expansion of Tokenized Treasury Amid Crypto Bull Market According to Cointelegraph: US Treasury tokenization protocol, Ondo Finance, foresees the intersection of traditional finance and blockchain shortly and is accordingly growing its product offerings. Recently, the protocol opened its first office in Hong Kong aiming to extend its on-chain treasury products to investors in the Asia Pacific region. Nathan Allman, the CEO of Ondo Finance, stated that tokenized treasuries could have considerable benefits compared to holding underlying treasuries. On-chain tokenized treasuries can facilitate decentralized and centralized exchanges, and be traded 24/7, including over-the-counter. Moreover, they can also interact with smart contracts, unlike traditional treasuries, thereby harnessing the benefits of DeFi and providing sustainable yield. At present, Ondo offers three products, namely, OUSG (exposure to U.S. Treasurys), OMMF (exposure to US money market funds), and USDY (a yield-bearing variant to traditional stablecoins). With a total value locked of around $186 million, these pools offer an annual yield of approximately 5%, with their underlying assets, the U.S. Treasurys, being backed by the US Government. Ondo's existing tokenized assets are unavailable to U.S. investors due to regulatory ambiguity in the country. Non-U.S. investors need to clear a Know Your Customer and Anti-Money Laundering verification check and hold the tokenized assets for at least 40 days before moving them. Currently, Ondo Finance is working towards addressing infrastructural challenges to facilitate large-scale creation and usage of tokenized securities on public blockchains. Disclaimer: Includes third-party opinions. No financial advice. #DeFi #crypto

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