Ondo Finance is collaborating with Plume Network to extend Ondo’s tokenized U.S. Treasuries offerings to a broader audience within the real-world assets finance ecosystem.

The collaboration between Ondo Finance (ONDO) and the modular layer-1 blockchain designed for RWAfi, Plume Network, is specifically aimed at enhancing RWAfi capabilities. Both platforms have indicated that their goal is to facilitate access to offerings like Ondo U.S. Dollar Yield (USDY) throughout Plume Network.

By leveraging Ondo’s knowledge in Treasuries-backed yieldcoins alongside Plume’s RWAfi-oriented infrastructure, the partnership seeks to streamline onboarding processes and capital integration. The native issuance of Ondo’s USDY within Plume is an important step toward achieving this goal.

The flagship offering from Ondo Finance, USDY, currently ranks as the fourth largest tokenized U.S. Treasuries product, boasting a value exceeding $450 million across eight different blockchains.

In comparison, Hashnote’s short-duration yield coin, BlackRock’s BUIDL, and Franklin Templeton’s Onchain U.S. Government Money Fund have total values locked at $1.8 billion, $621 million, and $554 million, respectively, according to data from rwa.xyz.

The launch of USDY on Plume is set to provide its users with a 4.65% APY while broadening access to this yieldcoin for both individual and institutional investors worldwide. However, it is worth noting that Ondo does not provide this product to U.S. investors.

This partnership not only presents an opportunity to expand RWA use cases but also contributes to the overall advancement of DeFi. Katie Wheeler, vice president of partnerships at Ondo Finance, emphasized that this collaboration would be advantageous for the entire industry.

“Plume is generating a network effect of opportunities for RWA issuance, and having a composable, yield-bearing asset to drive this economy is beneficial for both asset utility and the ecosystem as a whole,” Wheeler remarked.

The Plume Network team has recently established several significant partnerships and integrations, including collaborations with Google Cloud, Chateau Capital, and the on-chain private credit platform Credbull. Plume successfully raised $20 million in its Series A funding round, supported by Brevan Howard Digital, Haun Ventures, and Galaxy Ventures.