RWA Tokenization Expands to Solana with Ondo Finance Bridging Its USDY Token

The push for Real-World Asset (RWA) tokenization on the Solana blockchain is growing as Ondo Finance has expanded to the network.

The push for Real-World Asset (RWA) tokenization on the Solana blockchain is getting more attention as institutional-grade RWA outfit, Ondo Finance, has expanded to the network.

As announced on X, the firm is expanding its Decentralized Verifier Network (DVN) to Solana. With this addition, the Proof-of-Stake chain can now link to other EVM-compatible chains like Ethereum, Arbitrum, and Mantle.

Also, Ondo’s flagship stablecoin, USDY, which is fully backed by U.S. dollar deposits and earns interest to users, will be available on Solana.

According to the announcement, Ondo’s DVN has expanded to Solana. Credit: Ondo Finance

With the bridge deployment, USDY holders can move assets across the largest crypto platforms to drive a new value system.

Having more than $170 million in USDY on Solana, which is the total value locked on the tokenization platform, users can now do more with this integration.

“This new bridge unlocks frictionless RWA mobility, empowering users to move USDY fluidly without introducing extra counterparty risks or requiring inefficient capital reserves,” the announcement notes, adding that:

“Each USDY transfer between chains is maximally capital efficient, requiring no additional external capital to fill transfers, as would be required via third-party bridge environments.”

Over the past few months, Ondo Finance has collaborated with World Liberty Financial in a bid to drive its tokenization agenda. For its strides, it has managed to place its token (ONDO) in the spotlight.

The Implications For Solana And ONDO Price

With an active product in high demand by institutional investors, the (ONDO) price may gain an additional boost over time. Solana is an established blockchain protocol with millions of users. The access to liquidity, all of which may eventually flow into USDY and Ondo Finance-backed solutions, can fuel a big rally.

At the time of writing, the price of (ONDO) has rebounded, adding 1.05% in the past 24 hours to $0.9215. Just like (ONDO), Solana is also staging a breakout, notching up a 2.20% gain to $150.55.

(ONDO) has other primary growth triggers, like the recent Binance listing, that can also help boost its price outlook.

With growing adoption and exchange listings, the token’s accessibility is growing, setting the underlying coin up for a possible breakout.

Meanwhile, there is a growing quest for Real-World Asset (RWA) tokenization in both the Decentralized and Traditional Finance ecosystems. With its recent technology, Ondo Finance may soon be positioned to take a significant market share.

News data source: kdj.com

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