Ondo Finance's yield-bearing government bond stablecoin USDY has been launched on Aptos

ChainCatcher news, according to Cointelegraph, the Aptos Foundation announced the launch of Ondo Finance's yield-bearing stablecoin Ondo US Dollar Yield (USDY) on the Aptos blockchain.

It is introduced that USDY is a financial instrument backed by U.S. Treasury securities, which can be accessed by non-U.S. residents through the Aptos blockchain. This digital asset has not yet been registered under U.S. securities laws. The Aptos Foundation pointed out in the announcement that the stablecoin has advantages in providing services to underserved communities and in financial democratization.