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tokenized Treasuries
The feature helps to expand the utility of the Franklin OnChain U.S. Government Money Fund’s BENJI token and make it more interconnected with the digital asset ecosystem.
Introducing Ondo Finance’s offerings to Cosmos “will bring vastly improved utility and liquidity to appchains and their users, all while offering exposure to yielding instruments,” Ondo’s founder Nathan Allman said.
Investors will be able to take out crypto loans by pledging TrueFi’s U.S. Treasury bill tokens, with plans to expand collateral to other types of tokenized RWAs, according to the proposal.
Superstate’s USTB token aims to offer institutional investors an alternative to stablecoins to earn a yield on their on-chain cash holdings, Superstate founder and CEO Robert Leshner said.
U.S. Treasuries are a gateway for tokenization efforts, and has grown to a $850 million market from $100 million over the past year, rwa.xyz data shows.
Tokenized versions of U.S. Treasuries grew nearly seven-fold so far in 2023 as competition between investment offerings and blockchain venues intensified.
The tokenized Treasuries market has grown sixfold this year to $668 million, according to rwa.xyz data.