Ondo Finance brings tokenized RWA to Mastercard network

• Mastercard
  has
  onboarded
  Ondo
  as
  its
  first
  tokenize
  real-world
  assets
  provider
  for
  its
  Multi-Token
  Network
  (MTN).
• Businesses
  within
  the
  network
  that
  onboard
  Ondo’s
  OUSG
  will
  earn
  yield
  on
  their
  idle
  cash.

Ondo
Finance,
a
tokenized
real-world
assets
platform,
has
joined
Mastercard’s
multi-token
network,
bringing
tokenized
US
Treasuries
to
businesses.

In
an

announcement
on
Wednesday,
Ondo
said
Mastercard
will
onboard
the
RWA
platform
to
its
MTN,
with
Ondo
Finance
becoming
the
network’s
first
tokenized
real-world
assets
provider.

“This
partnership
represents
a
landmark
moment
of
connecting
private
payment
network
rails
to
tokenized
assets
on
public
blockchain
networks.
This
connectivity
will
enable
the
banking
ecosystem
to
move
to
24/7
functionality
on
a
global
basis,
powered
by
Ondo’s
assets
and
services,”
Ian
De
Bode,
chief
strategy
officer
of
Ondo
Finance,
said
in
a

press
release.

Ondo,
Mastercard
expand
RWA
adoption

According
to
Ondo
Finance,
integration
with
Mastercard
brings
Ondo’s
Short-Term
US
Government
Treasuries
Fund
(OUSG)
to
users
within
the
MTN.
This
development
means
businesses
can
now
tap
into
the
benefits
that
come
with
tokenized
treasuries.

OUSG
integration
will
allow
MTN
businesses
to
earn
daily
yield
through
tokenized
assets,
with
subscriptions
and
redemptions
available
24/7.
For
companies
that
onboard

Ondo,
it
will
mean
removing
the
reliance
on
stablecoin
onramps.

“We’re
building
on
decades
of
proven
success
in
payments
to
deliver
unparalleled
financial
flexibility
and
24/7
access
to
businesses
worldwide.
Our
work
with
Ondo
Finance
is
poised
to
open
new
doors
in
the
ever-evolving
digital
assets
ecosystem,”
Raj
Dhamodharan,
executive
vice
president,
blockchain
and
digital
assets
at
Mastercard,
said.

OUSG,
a 
composable
on-chain
treasury
asset,
offers
features
such
as
lower
fees,
round-the-clock
redemptions,
and
daily
interest
distributions.

The
tokenized
US
Treasuries
asset,
currently
available
on
Solana,
Ethereum
and
Polygon,
is
the
platform’s
second
largest
by
market
share.

Per

RWA.xyz,
OUSG
has
a
market
cap
of
$429
million,
behind 
Ondo
US
Dollar
Yield
(USDY)
with
$439
million.
Hashnote’s
USYC,
BlackRock’s
BUIDL
and
Franklin
Templeton’s
BENJI
are
currently
the
top
three
in
that
order.

OUSG’s
assets
have
reserve
backing
secured
by
BUIDL
and
several
other
short-term
US
Treasuries.