According to a ChainCatcher report citing TheDefiant, data from DefiLlama shows that the total value locked (TVL) in the tokenization platform and DeFi protocol Ondo Finance has surpassed $2 billion this week, setting a new record. This figure is more than double the TVL recorded in early March of last year. Among the networks, Ethereum is the primary chain for Ondo's tokenized assets, with on-chain assets valued at approximately $1.5 billion; Solana follows closely, with assets totaling about $248 million, while BNB Smart Chain holds around $123 million in assets. The report noted that as TVL expands, Ondo Finance's flagship product, OUSG (a fund holding tokenized short-term U.S. Treasury securities), has also grown. According to RWAxyz data, it currently holds over $820 million in Treasury securities.
Ondo Finance's Total Value Locked (TVL) Surpasses $2 Billion, Driven by Tokenized U.S. Treasury Fund
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Summary
Ondo Finance's TVL reached $2.0 billion this week, driven by its tokenized U.S. Treasury fund. According to DefiLlama data, TVL has more than doubled since early March 2025. Ethereum leads with $1.5 billion in TVL, followed by Solana and BNB Smart Chain. OUSG, Ondo's flagship product, now holds over $820 million in U.S. Treasuries. Recent network upgrades have increased user participation. U.S. inflation data also seems to have influenced investor interest in stable, tokenized assets.
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