Ondo Finance and Grvt to Allocate $100M USDY to On-Chain U.S. Treasury Yield Assets

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On-chain news emerged as Ondo Finance and the ZKsync-based hybrid DEX Grvt announced a $100 million USDY initiative aimed at on-chain U.S. Treasury yield assets within one year. Grvt will integrate USDY into its Grvt Earn product, allowing users to earn returns without purchasing USDY. The RWA news underscores USDY as a tokenized security backed by U.S. Treasuries, ETFs, and deposits. With $2.14 billion in AUM and 15,600 holders, USDY ranks as the third-largest RWA product on RWA.xyz.

Odaily Planet Daily reports that Ondo Finance has partnered with Grvt, a hybrid decentralized exchange built on ZKsync, with plans to establish a $100 million position in Ondo USDY over the next year to expand its on-chain fixed-income asset portfolio.

Under the partnership agreement, Grvt will integrate USDY into its yield product, Grvt Earn. The platform will hold and manage USDY directly on its balance sheet, incorporating the associated yields into the unified base yield currently offered to users—without requiring users to purchase USDY separately.

USDY is a yield-bearing tokenized security launched by Ondo Finance, primarily backed by short-term U.S. Treasury securities, Treasury-based ETF shares, and bank deposits. According to data from RWA.xyz, USDY is currently one of the three largest tokenized asset products, with assets under management of approximately $2.14 billion and around 15,600 holders. (The Block)

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