Ondo's USDY launches natively in Cosmos ecosystem via Noble
Quick Take Noble and Ondo launched USDY, the first native yield-bearing stablecoin, on Cosmos. USDY is a tokenized note secured by short-term US Treasuries and US bank demand deposits.
The teams at Noble blockchain and Ondo ONDO -0.65% Finance have launched Ondo US Dollar Yield (USDY) on Cosmos, marking the introduction of the first native yield-bearing dollar stablecoin in its ecosystem.
This move brings USDY, a stablecoin product and tokenized note secured by short-term US Treasuries and US bank demand deposits, natively to over 90 application-specific Cosmos blockchains.
While USDY will be rolled out via the Noble blockchain, several other Cosmos chains and DeFi projects will be leveraging USDY, including Injective, Osmosis, Kujira, and Pyth among others.
USDY allows global (non-US) individual and institutional investors to access yield and has a total value locked exceeding $300 million across multiple blockchains.
USDY will see particular adoption on Injective. Helix, a derivatives exchange based on Injective, is set to introduce USDY as a spot asset and a collateral pair for perpetual markets. This will allow users to trade on-chain while earning yield through USDY for the first time. Additionally, Hydro, another protocol on Injective, will incorporate USDY into its structured assets, enabling users to earn on-chain yield. USDY has a market cap of over $222 million, according to CoinGecko data .
Noble is a purpose-built blockchain known for being the native asset issuance network for Circle’s USDC stablecoin in the Cosmos ecosystem. There is over $243 million of natively issued USDC on Noble since the initial rollout in September 2023.
Over the past year, it has also been working to onboard various other tokenized real-world asset projects. For instance, it previously partnered with Hashnote to bring USYC — an on-chain representation of Hashnote’s short-duration yield fund — to the Cosmos ecosystem.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Investment Tycoon Nobul Warns: Cycle Financing Plants Seeds for Collapse, Nvidia (NVDA.US) May Repeat Cisco's Mistake
Noble issued a warning on Thursday, stating that Nvidia is heading toward a liquidation-style crisis similar to the internet bubble, as the company is providing financial support to customers purchasing its artificial intelligence (AI) hardware.
Tech stock sell-off sweeps Asia-Pacific markets: Korean stocks plunge nearly 9%, triggering circuit breaker; Nikkei falls below 60,000, enters technical bear market
The MSCI Asia-Pacific Index fell 3% to 247.75 points. The Korea Composite Stock Price Index plummeted 8.8%, breaking below the significant 5,000-point threshold and triggering the circuit breaker. The Nikkei 225 in Japan dropped more than 5%, falling below 60,000 points during trading. Since its June high, it has declined more than 20%, officially entering a technical bear market.
Cloudflare (NET.US) Q3 Conference Call: CEO says AI-driven best quarter ever, GAAP profitability may arrive ahead of schedule in Q4
Cloudflare (NET.US) released its Q3 2026 financial results and held a conference call.
Crypto prices
More
