22 Jan, 2024
Tokenized Real-World Asset Platform Ondo Finance Announces Expansion into Asia Pacific
Tokenized Real-World Assets platform Ondo Finance has officially announced its expansion into Asia Pacific with the inauguration of its first office in the area.
However, the firm did not disclose the country or the city where the office has been opened.
Ondo Finance, currently holds 40% of the global market share with three main offerings of tokenized products, namely OUSG for exposure to US Treasuries, OMMF for exposure to US money market funds, and USDY, serving as a yield-bearing alternative to conventional stablecoins.
These products enable investors globally to access key US-based asset classes in tokenized form.
To spearhead its expansion efforts, Ondo Finance has opened its Asia Pacific office and appointed Mr. Ashwin Khosa as the Vice President of Business Development in the region. Mr. Khosa, who has previously worked at Citi, Tether, and Bitfinex.
“I look forward to working closely with partners in the region to help investors gain access to this next generation of high-quality assets,” Khosa said in a press release shared with Cryptonews.
Nathan Allman, founder and CEO of Ondo, shared his excitement about the expansion, stating,
“We’re very excited about our expansion into APAC. There is an active and rapidly growing crypto community and an appreciation for the type of high-quality exposure to US assets that our tokens provide.”
Ondo Finance collaborated with the Mantle Network to introduce USDY, an innovative tokenized note backed by U.S. Treasuries and bank deposits.
Additionally, Ondo expanded its reach by launching USDY on the Solana blockchain in December.
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