Ondo Expands USDY Token to Solana Using LayerZero Bridge – Coincu
By: bitcoin ethereum news|2025/05/03 14:45:01
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Ondo and LayerZero have launched a bridge for USDY on Solana. USDY liquidity on Solana is now over $500 million. This bridge could increase institutional DeFi adoption. Ondo Finance has integrated its US Dollar-pegged bond token, USDY, into the Solana network through a newly developed bridge with LayerZero. This move facilitates substantial capital accessibility on Solana, enhancing institutional users’ ability to invest in real-world assets. USDY Integration Boosts Solana’s Liquidity with $500M Ondo Finance and LayerZero collaborated to develop a bridge, extending the USDY token to the Solana network. This institutional-grade bridge is the first to connect Solana with major Ethereum Virtual Machine (EVM) chains. Nathan Allman and Bryan Pellegrino are the CEOs leading this initiative. Enhanced liquidity is a key change, with over $500 million USDY available on Solana. According to Nathan Allman, CEO of Ondo Finance, “This bridge is vital for institutional DeFi adoption, providing the security and accessibility that traditional financial entities require.” Industry responses highlight the potential for increased Solana and Ethereum ecosystems’ value. Official announcements from Ondo and LayerZero emphasize this bridge’s importance for institutional DeFi engagement. First EVM to Solana Bridge Sparks Institutional Interest Did you know? The launch marks the first direct link of major EVM chains to Solana , potentially increasing institutional interest in cross-chain DeFi solutions. Ondo US Dollar Yield (USDY) is currently priced at $1.09 with a market cap of $583.83 million. 24-hour volume stands at $469,245.21, showing a 78.32% decrease , although USDY’s price has risen 0.06% in 24 hours . Data sourced from CoinMarketCap. Ondo US Dollar Yield(USDY), daily chart, screenshot on CoinMarketCap at 06:19 UTC on May 3, 2025. Source: CoinMarketCap Experts from Coincu suggest that this bridge could drive new financial integrations , with a focus on securing real-world assets within DeFi . This infrastructural advancement is expected to enhance institutional trust in decentralized tech solutions. Source: https://coincu.com/335452-ondo-usdy-solana-layerzero-bridge/
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