Ondo’s $25M Stablecoin Splash: Tokenized Treasurys, Crypto Loans, and a Dash of Wodehouse Wit! 🤑

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Well, I say, old bean, it appears that Ondo Finance has gone and splashed a cool $25 million on YLDS, the yield-bearing stablecoin from those chaps at Figure Technology Solutions. What ho! This little maneuver, you see, is to diversify the assets backing their tokenized US Treasurys fund. Quite the financial acrobatics, what? 🧢✨

On Monday, no less, they announced that YLDS would join a reserves portfolio already brimming with tokenized Treasury products from the likes of BlackRock, Fidelity, Franklin Templeton, and WisdomTree. Rather spiffing, if you ask me. 🧐📈

Now, this Ondo Short-Term US Government Bond Fund (OUSG), designed for the institutional set, offers onchain exposure to Treasurys with 24/7 redemptions and a tidy 3.68% annual return. Not too shabby, eh? The fund’s got about $777 million in total value locked (TVL) as we speak. Lucky number seven, thrice over! 🍀💰

Meanwhile, Figure, those clever coves, run their lending and capital-markets infrastructure on the Provenance blockchain, having originated more than $19 billion in loans across home-equity lines, mortgage products, and crypto-backed credit. Top hole! They’ve also just completed their Nasdaq IPO earlier this year, and their YLDS stablecoin boasts a market cap of around $100 million. Not too dusty, what? 📊🚀

Ondo Finance, founded in 2021, is a US-based platform that tokenizes traditional financial assets. In October, they expanded their tokenized asset lineup to the BNB Chain, adding over 100 tokenized Wall Street stocks and exchange-traded funds onchain. Rather ambitious, don’t you think? 🌍📈

And would you Adam and Eve it? On Wednesday, they received regulatory approval from the Liechtenstein Financial Market Authority (FMA) to offer tokenized stocks in Europe. Jolly good show! 🎩🇪🇺

Oh, and by the by, Figure’s stock price was up nearly 4% in early trading on Monday, according to Yahoo Finance. Not a bad day’s work, eh? 📉📈

Crypto-backed lending: The new black tie of finance 🕶️💸

Crypto-backed lending, old sport, is all the rage these days, and the trend’s been accelerating like a chap late for tea in 2025. More lenders are reviving and expanding crypto-collateralized loan products, you know. 🏦🔗

In July, Block Earner introduced Bitcoin-backed home loans in Australia, offering borrowers cash worth up to half a property’s value, with the crypto collateral safeguarded by Fireblocks. Rather clever, that. 🏡🔒

On Tuesday, Tether, the stablecoin issuer, announced an investment in Ledn, a platform providing Bitcoin-backed consumer loans. Ledn reported originating over $390 million in BTC-backed loans in the third quarter. Not too shabby for a spot of crypto lending, eh? 💼💹

Even the centralized exchanges are getting in on the act, expanding beyond Bitcoin (BTC). On Thursday, Coinbase rolled out Ether-backed loans for US customers, letting users borrow up to $1 million in USDC against their Ether (ETH) holdings. Blimey, that’s a bit of all right! 🤑🔗

Coinbase’s onchain lending markets have handled about $1.28 billion in loan originations since launching earlier this year, according to Dune data. Quite the financial juggernaut, what? 🚂💨

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2025-11-24 22:18