On November 7th, Mantle Network, an Ethereum Layer2 network, partnered with Ondo Finance, a tokenized financial product platform, to launch a token called USDY that generates income supported by real-world assets. USDY is similar to USDT or USDC and is a tokenized note secured by short-term US Treasury bonds and bank demand deposits. Holders receive income generated by the underlying assets in the form of accumulated token value.
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Mantle and Ondo Finance launch RWA-backed USDY yield token
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