Grvt has announced a partnership with tokenization firm Ondo Finance, with plans to build a $100 million position in USDY over the next year, according to a report from The Block. USDY is a tokenized yield product primarily anchored to short-term U.S. Treasuries and similar assets. As part of the collaboration, Grvt will integrate USDY into its Grvt Earn product. The platform will hold and manage the underlying assets on its balance sheet, and around 3.5% in yield will be credited on top of users' existing base returns. Users can participate without directly holding the token. The deal reflects institutions' continued push into on-chain fixed income and the tokenization of real-world assets.
Grvt has announced a partnership with tokenization firm Ondo Finance, with plans to build a $100 million position in USDY over the next year, according to The Block.
USDY is a tokenized yield product primarily anchored to short-term U.S. Treasuries and similar assets. As part of the collaboration, Grvt will integrate USDY into its Grvt Earn product. The platform will hold and manage the related assets on its balance sheet, while crediting roughly 3.5% in yield on top of users' existing base returns. Users do not need to hold the token directly.
The deal reflects institutions' continued push into on-chain fixed income and the tokenization of real-world assets.
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