Ondo Finance Launches Yield-Bearing Stablecoin USDY on Stellar Network
Ondo Finance has introduced USDY, a yield-bearing stablecoin backed by U.S. Treasuries and bank deposits, on the stellar blockchain. This marks the first such product available to Stellar users, combining daily yield accrual with liquidity for individuals, businesses, and institutions.
The stablecoin serves dual purposes: as collateral within Stellar's DeFi ecosystem and as a tool for efficient cross-border payments. "The global reach of the Stellar ecosystem combined with a yield-bearing asset like USDY levels up what is possible onchain," said Stellar Development Foundation CEO Denelle Dixon.
USDY is already integrated with Stellar-based applications including LOBSTR and Aquarius, offering users the ability to preserve value while maintaining spending flexibility.
