Ondo Finance to Launch RWA Payment Network

2024-05-10 21:43:10


Ondo Finance, a pioneer in decentralized finance (DeFi), has announced a strategic partnership with Zebec Network, a platform specializing in tokenized real-world assets (RWA).

This collaboration aims to enhance real-time payroll payments using Zebec's advanced payment technology and Ondo's USDY stablecoin system.

The partnership seeks to expand the operation of USDY, a stablecoin known for its stability and performance. It will also integrate Zebec's Instant Card technology and RWA payment solutions.

The combined technologies aim to provide companies, traders, and individual users with "real, free, and problem-free" financial services, enhancing the overall efficiency and experience of payroll and financial management.

"Zebec Network's continuous payment technology revolutionizes payroll by enabling payments per second, improving efficiency and ultimately the end-user experience. Zebec's integration of USDY into its payment solutions is an exciting option but logical," Justin Schmidt, president of Ondo Finance, said.

The integration of USDY into Zebec's suite of products marks a significant step in redefining global financial ecosystems.

With a current capitalization of $7.8 trillion and an 11.3% growth rate, the RWA market presents a substantial opportunity for both companies. Daily trading volume within this ecosystem is $494.3 million, reflecting its robust activity and potential for further expansion.

"This integration marks a significant advance in our shared quest to redefine financial ecosystems globally. By incorporating USDY, an RWA asset, we further enhance Zebec's suite of products, empowering businesses and individuals to manage their finances with immediacy and unprecedented efficiency," Sam Thapaliya, founder of Zebec Network, said.

Read more: What Are Tokenized Real-World Assets (RWA)?

The announcement positively impacted Ondo Finance's native token, ONDO, which rose 6% from $0.76 to $0.83 before stabilizing at $0.80. Additionally, ONDO's trading volume increased by 4.78%, and its market capitalization grew by 0.98%, reaching $1.10 billion.

This response reflects the market's confidence in the new partnership and its potential to revolutionize financial services.

Looking ahead, Zebec Network plans to offer users passive income opportunities by accessing their returns in USDY through the Instant Card. Notably, USDY will not be available in the United States, ensuring compliance with US Securities Law.

2024-05-10 News