Grvt partners with Ondo Finance to allocate $100 million USDY

According to The Block, Grvt announced a partnership with tokenization company Ondo Finance to establish a $100 million USDY position over the next year. USDY is a tokenized income product that mainly anchors short-term US Treasury bonds and other assets.

Grvt will integrate USDY into Grvt Earn, where the platform will hold and manage relevant assets on the balance sheet, and include a yield of about 3.5% in users' existing underlying income. Users are not required to directly hold the token. This move reflects the institution's continued increase in the area of on-chain fixed income and real-world asset tokenization.