What to know:
- Tokenized RWA issuer Ondo Finance has joined Mastercard’s Multi-Token Network.
- Ondo’s Short-Term U.S. Government Treasuries Fund investment product will be available to businesses on the Mastercard network.
Tokenized real-world asset (RWA) issuer Ondo Finance is now part of the Mastercard network that connects financial institutions with businesses to enhance cross-border payments.
Ondo’s Short-Term U.S. Government Treasuries Fund (OUSG) will be available to businesses on Mastercard’s Multi-Token Network (MTN), allowing access to yield through tokenized assets, as announced via email on Wednesday.
The majority of OUSG’s assets are invested in BlackRock’s USD Institutional Digital Liquidity Fund, the largest blockchain-based money market fund supported by short-term U.S. government bonds.
Mastercard’s MTN employs API-integrated blockchain tools to help banks simplify both domestic and international transactions.
The emergence of blockchain networks by traditional financial institutions like Mastercard means that other financial entities and companies can access cryptocurrencies and other digital assets without establishing additional crypto infrastructure or accounts.
