Ondo Finance transfers $95 million to BlackRock's tokenized fund

TechFlow reports that Nathan Allman, CEO of RWA platform Ondo Finance, said Ondo Finance is transferring $95 million in assets to BlackRock's new tokenized fund BUIDL to enable instant settlement for its own U.S. Treasury-backed token (OUSG).

Allman added that over the past few days, Ondo has already transferred $15 million in OUSG backing assets to BlackRock's BUIDL and plans to transfer an additional $80 million before the end of Wednesday.

Earlier report, RWA protocol Ondo Finance announced the launch of 24/7/365 instant investment and redemption for its OUSG token, as well as introducing a new form of OUSG—rOUSG—which will offer a constant minting/redemption price of $1.00 per share, allowing investors to convert via its website or on-chain.