Ondo Finance Teams Up with Mastercard to Revolutionize Cross-Border Payments
1min read Ondo Finance, a project focused on decentralized finance (DeFi), has partnered with mastercard to launch a new service on the Mastercard multi-token network (MTN). The collaboration aims to enhance cross-border payments and provide businesses with access to tokenized assets that generate yield.
The partnership will integrate Ondo's short-term US Treasury bond fund (OUSG) investment product into the Mastercard network. OUSG's assets are primarily invested in BlackRock's US dollar institutional digital liquidity fund (BUIDL), which is the largest blockchain-based money market fund backed by short-term US government bonds.
Mastercard's MTN combines blockchain tools with API support to help banks streamline domestic and cross-border transactions. By joining the Mastercard network, Ondo Finance will be able to offer its services to a broader range of businesses, potentially increasing adoption and liquidity in the DeFi space.
The partnership between Ondo Finance and Mastercard highlights the growing interest in DeFi from traditional financial institutions. As DeFi continues to evolve, collaborations like this one may become more common, as established financial players seek to leverage the innovative technologies and services offered by DeFi platforms.
