USDY, a tokenized treasury instrument offered by Ondo Finance, has integrated with Injective to bring stable and high-quality yield to Injective decentralized applications (DApps).
Some DApps launching on Injective include decentralized exchanges and money market platforms.
USDY Integrates With Injective
According to Injective, integrating with OndoFinance was groundbreaking and will support new ecosystem opportunities. The partnership went live on July 23, providing new opportunities to investors, including institutional traders.
The partnership will also expand the Real World Asset (RWA) offerings across the Injective ecosystem. This move comes amid the growing popularity of tokenized assets among some of the largest traditional financial firms, such as BlackRock.
This integration will launch the USDY tokenized treasury instrument into the Injective platform. This move will also transform how traditional financial assets interact with decentralized finance (DeFi) applicants.
The integration of OndoFinance will launch several critical developments in the Injective ecosystem. The first opportunity it presents is that USDY will be available for people to use across multiple applications created on the Injective platforms.
This integration will result in more capital efficiency within the injective ecosystem. The tokenized treasury offerings will also be part of the DApps launching on the Injective ecosystem to boost growth.
“USDY can now be utilized across applications built on Injective. This increases capital efficiency while also integrating embedded tokenized treasury offerings into Injective DApps such as decentralized exchanges and money market platforms,” Injective said.
Injective Plans to Tokenized Traditional Finance
The partnership between Injective and Ondo Finance will represent its latest efforts towards tokenizing the traditional finance industry and bringing it on-chain.
The Injective platform has also been leading in tokenizing asset adoption. The platform’s RWA module will also support on-chain offerings across the sector. Some offerings that will be made available include commodities and foreign exchange.
Bringing USDY and OndoFinance together is set to boost the use cases for institutional investors and RWA markets within the Injective ecosystem. The move will ensure that the TradFi sector can easily access the DeFi industry.
The move comes as more TradFi firms, such as BlackRock, endorse cryptocurrencies and blockchain technology through their offerings.
Injective also released AINJ, a Staking Exchange-Traded Product (ERTP). The AINJ platform was created through a partnership with 21Shares. The product guarantees users more exposure to the INJ token through leading traditional finance platforms.
The recent development has triggered a slight 1% gain in INJ token prices. The token has a 21% gain in the past month, with these gains coming largely because of the developments happening across the ecosystem and the gains across the broader cryptocurrency market.
