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CryptoIntelligence 2024-08-02 18:20:00

Aptos Foundation Launches Ondo Finance’s Yield-Bearing Stablecoin on Blockchain, Eyes Major Market Growth

The Aptos Foundation, which supports the development of the Aptos decentralized network, recently announced the introduction of Ondo Finance’s yield-bearing stablecoin, Ondo US Dollar Yield (USDY), on the Aptos blockchain. USDY, a digital asset backed by United States Treasurys, will be accessible to non-US residents through the Aptos blockchain. It’s important to note that this asset has not yet been registered under the Securities Act in the United States. The Aptos Foundation highlighted the role of stablecoins in providing financial services to underserved communities and democratizing access to finance. Interestingly, stablecoin issuers and other crypto companies are becoming significant purchasers

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