Tokenized real-world asset (RWA) platform Ondo Finance said Tuesday it expanded its U.S. Treasury-backed tokens to the Solana (SOL) blockchain and its decentralized finance (DeFi) protocols such as Orca and Raydium. Solana is the first layer 1 network after Ethereum where investors can access Ondo's yield-generating stablecoin alternative U.S. Dollar Yield (USDY) and a tokenized version of BlackRock's (BLK) short-term Treasury bond exchange-traded fund named OUSG. Ondo's expansion comes fresh on the heels of stablecoin issuer Circle introducing its euro-backed stablecoin EURC to the Solana ecosystem. The competition also increases among blockchain networks to attract RWAs.
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