Ondo Finance's yield-based government bond stablecoin USDY has been launched on the Aptos network

Odaily News The Aptos Foundation announced the launch of Ondo Finance's yield-based stablecoin Ondo US Dollar Yield (USDY) on the Aptos blockchain. According to reports, USDY is a financial instrument backed by U.S. Treasury bonds that can be used by non-U.S. residents through the Aptos blockchain. The digital asset has not yet been registered under the U.S. Securities Act. The Aptos Foundation pointed out in the announcement that stablecoins have advantages in providing services to underserved communities and in financial democratization. (Cointelegraph)