DeFi
Ondo Finance, a DeFi firm offering decentralized investment opportunities, has launched tokenized versions of U.S. treasuries and bonds.
These tokenized products let stablecoin holders invest in bonds and treasuries, Ondo Finance noted in a company blog post. The three offerings upon launch include the U.S. Government Bond Fund, Short-Term Investment Grade Bond Fund and High Yield Corporate Bond Fund.
“We envision these security tokens and protocols that support them as creating a compliant on-chain financial ecosystem supporting both permissioned and permissionless assets, ultimately improving the accessibility, transparency and efficiency of our markets,” Ondo Finance founder and CEO Nathan Allman said.
Bond investors can net tokenized fund interests approved by smart contracts that are transferrable on-chain, according to the post. Ondo Finance earns a 0.15% annual management fee through these bonds.
Ondo Finance previously raised $10 million in a public token sale on July 6, 2022, The Block reported at the time. A few months before that, Peter Thiel’s investment fund co-led a $20 million Series A funding round for Ondo Finance in April 2022.
Sourced from cryptonews.net.
