Ondo Finance and Wintermute Join Forces to Boost Liquidity in USDY Stablecoin

In an exciting development, Ondo Finance, a specialized asset manager focusing on tokenized real-world assets, has announced a strategic collaboration with Wintermute, a prominent liquidity provider and major player in the crypto space. This partnership aims to enhance the multi-chain liquidity of Ondo’s US Dollar Yield stablecoin, USDY.

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The move comes amid a growing interest from both traditional and crypto financial institutions in tokenized versions of traditional financial assets. The market has witnessed a surge in demand for 24/7 institutional-grade liquidity in these tokens, prompting Ondo Finance and Wintermute to team up and address this need.

The collaboration sets its sights on onboarding the next generation of traditional financial entities into the crypto space by bridging the gap between decentralized and traditional financial assets.

“We are delighted to partner with Wintermute, who needs no introduction. Ondo Finance is an asset manager, not a broker dealer, custodian, exchange, nor other financial entity. As such, we rely upon and partner with the best providers of liquidity and custody to help our clients achieve their goals,” shared Justin Schmidt, President at Ondo Finance.
“Wintermute’s 24/7, global distribution will dramatically help USDY token holders source liquidity and help traditional stablecoin holders to achieve a safe, meaningful yield.”

Justin Schmidt, President at Ondo Finance
USDY Overview

USDY stands out as the world’s first tokenized note secured by a bankruptcy-remote portfolio of US Treasuries and bank deposits. Designed to be accessible to both non-US individual and institutional investors, USDY aims to combine the accessibility of stablecoins with high-quality, US dollar-denominated yield.

The collaboration between Ondo Finance and Wintermute is poised to facilitate investors in buying and selling USDY through Wintermute’s over-the-counter (OTC) desk.

Jonathan Chan, Global Head of Business Development at Wintermute, stressed the critical problem of liquidity emerging as Real World Assets (RWAs) gain traction in the crypto space.
“By enabling the redemption of USDY through our OTC desk, we aim to strengthen its market presence, making it an even more viable option for institutional investors.”

Jonathan Chan, Global Head of Business Development at Wintermute
“Addressing this challenge for RWAs is crucial to increase the uptake and in line with our commitment to creating liquid and efficient markets in crypto, accessible to a diverse range of investors,” added Jonathan.

Both Ondo Finance and Wintermute have been actively working to bridge the gap between traditional finance and the crypto world. Ondo Finance recently extended its US Treasury-backed tokens to the Solana blockchain, letting investors use them as collateral. Wintermute Asia has integrated with the CME Group, further establishing its presence in traditional financial markets.

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About Ondo Finance

Ondo Finance provides institutional-grade, blockchain-enabled investment products and services. The company’s asset management arm creates and manages tokenized financial products, while its technology arm develops decentralized finance protocols and other blockchain solutions. Ondo’s core products include tokenized cash equivalents that offer low risk and high-quality yield from US Treasuries, money market funds, and similar instruments.

For more information on Ondo Finance and its products, reach out to support@ondo.finance or visit the official website.

About Wintermute

Wintermute is a leading global algorithmic trading firm and one of the largest players in digital asset markets. With billions in average daily trading volume, Wintermute offers OTC trading and provides liquidity across 60+ centralized and decentralized exchanges. Actively participating in the ecosystem, Wintermute invests in early-stage Web3 projects and supports traditional financial institutions venturing into crypto.

For additional information on Wintermute, visit the official website.

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