Ondo is using LayerZero to make its yield-bearing stablecoin fully fungible across multiple blockchain networks.
Ondo Finance, a tokenized real-world asset (RWA) protocol, has tapped LayerZero to make its flagship yield-bearing stablecoin fungible across multiple blockchain networks, LayerZero told Cointelegraph on Nov. 26.
Users can now access Ondo US Dollar Yield Token (USDY) “and its tokenized [United States] Treasurys product across multiple blockchain ecosystems without needing to mint new tokens or swap assets between chains,” Ondo said.
According to Ondo, integrating LayerZero’s Omnichain Fungible Token (OFT) standard establishes USDY as a “compelling alternative to traditional stablecoins like USD Coin (USDC) and Tether (USDT).”
