Ondo and Aptos Partner to Integrate Real-World Assets, Blockchain Technology

Ondo Finance and Aptos Foundation partnered on the integration of real-world assets with blockchain technology.

Beginning with the integration of Ondo’s tokenized U.S. Treasuries product, USDY, onto the Aptos blockchain, the partnership sets the stage for a series of financial products using the strengths of both organizations, the companies said in a Thursday (Feb. 22) blog post.

Ondo’s USDY exists on Ethereum, Solana and Mantle, and the collaboration aims to explore new solutions that combine on-chain native and real-world asset yields on Aptos, according to the post.

Aptos, founded by former Meta engineers, is well-suited for this project due to its Move programming language designed for safety and flexibility in financial applications, the post said.

Additionally, Ondo Finance, led by veterans of Goldman Sachs’ digital assets team, collaborates closely with service providers like BlackRock, positioning it to bridge the gap between traditional finance and the emerging blockchain ecosystem, per the post.

Beyond being a technical integration, the new partnership is an alliance to combine traditional finance’s reliability with blockchain technology’s efficiency and accessibility, according to the post.

Ondo Finance CEO Nathan Allman said in the post that the collaboration aims to deliver “groundbreaking” financial products. Bashar Lazaar, head of grants and ecosystem at Aptos Foundation, said the partnership will help make financial services “accessible and seamless.”

Moreover, Ondo’s integration with Thala, a decentralized finance protocol on Aptos, will see USDY launching in Thala’s automated market maker pools and serving as collateral for collateralized debt positions, enhancing liquidity options for users and reinforcing secure and capital-efficient decentralized finance solutions, the post said.

USDY tokens are not available for sale in the United States, as they have not been registered under the Securities Act, per the post.

Ondo Finance aims to build “a decentralized investment bank,” the company said in April 2022 when announcing that it raised $20 million in a Series A funding round.

The company said at the time that it was expanding its team and preparing product launches that include its multi-chain expansion.