{"id":84355,"date":"2023-09-12T15:23:53","date_gmt":"2023-09-12T12:23:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=84355"},"modified":"2025-09-12T16:52:20","modified_gmt":"2025-09-12T13:52:20","slug":"mantle-to-add-support-for-rwa-stablecoin-usdy","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/mantle-to-add-support-for-rwa-stablecoin-usdy\/","title":{"rendered":"Mantle to add support for RWA-stablecoin USDY"},"content":{"rendered":"<p><a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">L2<\/a>-project Mantle Network, built on Ethereum, will integrate the \u201cstablecoin\u201d USD Yield (USDY) from Ondo Finance pegged to the US dollar.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It&#8217;s Official: Ondo Finance\u2019s USD Yield ($USDY) is coming to Mantle ?<\/p>\n<p>? We&#8217;re thrilled to announce <a href=\"https:\/\/twitter.com\/OndoFinance?ref_src=twsrc%5Etfw\">@OndoFinance<\/a> as a Showcase Partner for RWAs. For the first time, users will be able to access U.S. Treasury yield directly from their wallet on Mantle.<a href=\"https:\/\/t.co\/BP9qF5sXtr\">https:\/\/t.co\/BP9qF5sXtr<\/a> <a href=\"https:\/\/t.co\/0ONf8Wv3HJ\">pic.twitter.com\/0ONf8Wv3HJ<\/a><\/p>\n<p>\u2014 Mantle (@0xMantle) <a href=\"https:\/\/twitter.com\/0xMantle\/status\/1701536736046944323?ref_src=twsrc%5Etfw\">September 12, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;USDY \u2014 this is the world&#8217;s first tokenized currency backed by a combination of U.S. Treasury securities and bank deposits,&#8221; the statement said.<\/p>\n<\/blockquote>\n<p>Token holders will earn a 5% annual yield. However, for residents of the United States the earning feature will be restricted.<\/p>\n<p><span class=\"old_tooltip\" data-descr=\"Real World Assets \u2014 assets of the real world\">RWA<\/span>-issuer Ondo Finance is a leader in the <span data-descr=\"Real World Assets \u2014 assets of the real world\" class=\"old_tooltip\">RWA<\/span>-industry, accounting for about 50% of the tokenized securities market. In February 2023 the organization already issued digital treasury bonds, whose current market capitalization stands at around $160 million.<\/p>\n<p>Mantle emphasised that the asset offers &#8220;the best protection for investors in the market.&#8221;<\/p>\n<p>USDY can be purchased directly via the <a href=\"https:\/\/ondo.finance\/usdy\">Ondo portal<\/a> or through decentralized exchanges on Mantle. The issuer will also launch <a href=\"https:\/\/forklog.com\/en\/news\/what-are-cross-chain-bridges\">cross-chain bridge<\/a> with Ethereum for converting stablecoins. In the future the list of available blockchains will expand.<\/p>\n<p>The new &#8220;stablecoin&#8221; can be used as collateral for derivatives platforms and lending protocols or simply as a means of payment.<\/p>\n<p>Alongside USDY, news emerged of <a href=\"https:\/\/forklog.com\/en\/news\/mountain-protocol-launches-passive-income-stablecoin\">the launch of the USDM stablecoin<\/a>, which is also backed by U.S. Treasury securities and yields 5%. The asset is issued by Mountain Protocol, which has already obtained an issuer license in Bermuda.<\/p>\n<p>Earlier, in August, Kaiko analysts <a href=\"https:\/\/forklog.com\/en\/news\/analysts-flag-the-renewed-wars-of-stablecoins\">forecasted<\/a> the start of &#8220;stablecoin wars&#8221;. Analysts pointed to the imbalance in the main pool USDT-USDC on Uniswap V3 and the 3pool on Curve due to the escalation of selling of Tether&#8217;s stablecoin.<\/p>\n<p>According to Bernstein researchers, over the next five years the total market capitalization of &#8220;stablecoins&#8221; <a href=\"https:\/\/forklog.com\/en\/news\/bernstein-stablecoin-segment-to-grow-to-2-8-trillion-in-five-years\">will grow<\/a> from the current $125 billion to $2.8 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The L2 project Mantle Network on Ethereum will integrate USD Yield (USDY) stablecoin from Ondo Finance pegged to the US dollar.<\/p>\n","protected":false},"author":1,"featured_media":84356,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1417,807],"class_list":["post-84355","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-mantle","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84355","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=84355"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84355\/revisions"}],"predecessor-version":[{"id":84357,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/84355\/revisions\/84357"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/84356"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=84355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=84355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=84355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}