BounceBit CeDeFi V2 Now Integrates Ondo Finance’s USDY As First RWA Asset

Key Points:

• BounceBit CeDeFi V2 integrates Ondo Finance's USDY as the first treasury-backed real-world asset (RWA) in the platform.
• USDY, backed by U.S. Treasuries, manages over $450 million in total value locked (TVL) across multiple blockchains.

BounceBit, a leading CeDeFi infrastructure with backing from Binance, has just announced that its platform is integrating USDY, the US Dollar Yield stablecoin offered by Ondo Finance.

Read more: BounceBit Review: The First Bitcoin Restaking project on Binance Megadrop 

BounceBit CeDeFi V2 Integrates USDY for Treasury-Backed Stablecoin Rewards

The development brings the first treasury-backed real-world asset to the BounceBit ecosystem- a significant milestone in the journey toward convergence between traditional finance and decentralized innovation.

USDY is a flagship product of Ondo Finance, representing a bankruptcy-remote portfolio of U.S. Treasuries. For non-U.S. investors, this is an avenue to access high-quality USD-denominated yields with the convenience of a stablecoin. Currently hosting more than $450 million in total value locked across chains, the token boasts a highly competitive 4.65% APY.

BounceBit CeDeFi V2 introduces an independent USDY vault. The development makes the platform even more appealing since users are able to gain treasury-backed stablecoin rewards inside a compliant, regulated framework.

New Yield Strategies and Features Enhance BounceBit Platform Flexibility

The CeDeFi V2 upgrade also brings multi-chain support for Ethereum, Binance Coin, Solana, and Bitcoin, allowing users to avoid bridging funds through BounceBit's chain.

BounceBit CeDeFi V2, since its launch on November 12, has witnessed a significant uptick in activity with a two-fold increase in platform inflow amounting to $20 million.

New features to come with the new upgrade include the Auto, Fixed and Manual yield strategy options, increased APY rewards, and improved user flexibility. Thereby, over $10 million was bridged into the platform in the first hour of the delivery of the upgrade.