Wintermute is pleased to partner with Ondo Finance, an asset manager specializing in tokenized real-world assets, to boost the multi-chain liquidity of Ondo’s US Dollar Yield stablecoin, USDY. The collaboration taps into the substantial interest from traditional and crypto financial institutions in tokenized versions of traditional financial assets and meets the growing market demand for 24/7 institutional-grade liquidity in these tokens.

USDY is the world’s first tokenized note secured by a bankruptcy-remote portfolio of US Treasuries and bank deposits. The collaboration between Ondo Finance and Wintermute will allow investors to buy and sell USDY via Wintermute’s OTC desk.

As institutions increasingly seek to diversify their portfolios with assets like tokenized treasuries and private equity, this partnership is set to onboard the next generation of financial entities into crypto, by effectively bridging the gap between decentralized and traditional financial assets.