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Home›Crypto›Market Structure›Grvt looks to build a $100 million USDY position via O…

Grvt looks to build a $100 million USDY position via Ondo deal

USDY is described as a tokenized secured note backed mainly by short-term U.S. Treasurys, Treasury-based ETF shares, and bank deposits.

Reported · Written up by our desk · Market Structure

Grvt is considering a new position in USDY, with plans aimed at reaching $100 million as part of a tie-up involving Ondo Finance, according to The Block.

The report says USDY is structured as a tokenized secured note, backed primarily by short-term U.S. Treasurys, Treasury-based ETF shares, and bank deposits.

That backing mix is intended to anchor USDY to money-market style collateral, with the Treasurys and related exposures forming the core of the token’s support, The Block added.

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Sources

The BlockGrvt eyes $100 million USDY position in Ondo Finance tie-up

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