MasterCard Integrates Ondo Finance, Boosting ONDO Price

MasterCard has integrated Ondo Finance as the first real-world assets (RWA) provider on its Multi-Token Network (MTN), a decentralized platform that links banks with virtual assets for secure and quick transactions. This integration will allow businesses to seamlessly access US-tokenized treasuries, according to MasterCard.

The news triggered a recovery in the price of ONDO, the native token of Ondo Finance, within the past 24 hours. The altcoin reclaimed the psychological $1 mark despite broad market downtrends. Ondo Finance confirmed the partnership with MasterCard, stating that it will bring its Short-term U.S. Government Treasuries Fund (OUSG) to the MTN, enabling businesses that onboard with Ondo to seamlessly access the benefits of tokenized treasuries.

Real-world asset-linked cryptocurrencies have witnessed stable interest despite the prevailing broad market underperformance. Institutional players appear unbothered by the substantial price dips. Besides MasterCard, Ondo Finance was among the RWA projects that World Liberty Financial purchased during its alt shopping spree. Additionally, Binance added its ONDO assets recently.

ONDO changes hands at $1 after gaining over 2% in the past 24 hours. MasterCard’s announcement propelled the alt from daily lows of $0.94 to surpass the psychological $1 mark. However, ONDO recorded bearishness on its weekly chart, losing nearly 20% over the past seven days. Technical indicators confirm the downward stance, with the price hovering beneath the key 50-day and 200-day EMAs, reflecting dominant bear influence. The 1D Moving Average Convergence Divergence maintains a sharp diversion beneath the signal line, signaling substantial bearish pressure. Bears dominate the crypto space, triggering a 2% slide in the global cryptocurrency market cap to $2.86 trillion. Ondo will hardly sustain its price above $1 amidst such sentiments. The alt requires robust bull momentum, possibly during broad-based recoveries, for decisive uptrends. Nevertheless, institutional partnerships position ONDO to dominate the RWA industry in the coming months and years.