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Ondo Finance to Launch RWA Payment Network

2 mins
Updated by Bary Rahma
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In Brief

  • Ondo Finance teams up with Zebec Network.
  • ONDO token price rises by over 6%.
  • Partnership aims to redefine global finances.
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Ondo Finance, a pioneer in decentralized finance (DeFi), has announced a strategic partnership with Zebec Network, a platform specializing in tokenized real-world assets (RWA).

This collaboration aims to enhance real-time payroll payments using Zebec’s advanced payment technology and Ondo’s USDY stablecoin system.

Ondo Finance Partners With Zebec Network

The partnership seeks to expand the operation of USDY, a stablecoin known for its stability and performance. It will also integrate Zebec’s Instant Card technology and RWA payment solutions.

The combined technologies aim to provide companies, traders, and individual users with “real, free, and problem-free” financial services, enhancing the overall efficiency and experience of payroll and financial management.

“Zebec Network’s continuous payment technology revolutionizes payroll by enabling payments per second, improving efficiency and ultimately the end-user experience. Zebec’s integration of USDY into its payment solutions is an exciting option but logical,” Justin Schmidt, president of Ondo Finance, said.

The integration of USDY into Zebec’s suite of products marks a significant step in redefining global financial ecosystems.

With a current capitalization of $7.8 trillion and an 11.3% growth rate, the RWA market presents a substantial opportunity for both companies. Daily trading volume within this ecosystem is $494.3 million, reflecting its robust activity and potential for further expansion.

“This integration marks a significant advance in our shared quest to redefine financial ecosystems globally. By incorporating USDY, an RWA asset, we further enhance Zebec’s suite of products, empowering businesses and individuals to manage their finances with immediacy and unprecedented efficiency,” Sam Thapaliya, founder of Zebec Network, said.

Read more: What Are Tokenized Real-World Assets (RWA)?

The announcement positively impacted Ondo Finance’s native token, ONDO, which rose 6% from $0.76 to $0.83 before stabilizing at $0.80. Additionally, ONDO’s trading volume increased by 4.78%, and its market capitalization grew by 0.98%, reaching $1.10 billion.

This response reflects the market’s confidence in the new partnership and its potential to revolutionize financial services.

ONDO Price Performance
ONDO Price Performance. Source: CoinMarketCap

Looking ahead, Zebec Network plans to offer users passive income opportunities by accessing their returns in USDY through the Instant Card. Notably, USDY will not be available in the United States, ensuring compliance with US Securities Law.

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Bary Rahma
Bary Rahman, a talented journalist, graduated from New York University with a degree in Journalism. Skilled in SEO, she has worked with CNN, showcasing her investigative skills and storytelling abilities. In addition to her journalistic accomplishments, Bary has contributed her expertise as a content writer for Binance, crafting insightful articles on the dynamic crypto industry. Her unique fusion of journalism and SEO makes her a versatile and highly respected figure in the industry.
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