Grvt Partners with Ondo Finance, Plans to Allocate $100 Million in USDY

TechFlow reports, August 11, according to The Block, Grvt announced a partnership with tokenization company Ondo Finance, planning to establish a $100 million USDY position over the next year. USDY is a tokenized yield product primarily pegged to assets such as short-term U.S. Treasury bonds.

Grvt will integrate USDY into Grvt Earn, with the platform holding and managing the relevant assets on its balance sheet and incorporating a yield of approximately 3.5% into users' existing base yield, without users needing to hold the token directly. This move reflects institutions continuing to increase their exposure to the on-chain fixed income and real-world asset tokenization sectors.