A $407 million Treasury fund reveals how Wall Street is building crypto’s missing collateral layer
Wall Street is scaling tokenized Treasury funds as onchain collateral. Ondo's OUSG reached $407 million across Ethereum and XRP, offering 3.45% yields to accredited investors. The product now holds positions in competing Treasury tokens from BlackRock, State Street, and Franklin Templeton, signaling institutional maturity. Tokenization moves ownership and settlement onchain while assets remain in regulated structures, creating programmable collateral for crypto markets.
Coins in this story
Related stories
Stablecoin market cap has shrunk by $10 billion since May, but analyst sees no reason to panic
The market shrank by $7.7 billion in June alone, the largest dollar amount since May 2022's Terra-Luna crash, but stablecoins will likely resume their long-term growth, one analyst said....
Cambridge study puts Ethereum near the lower end of PoS energy intensity
Cambridge estimated that Ethereum consumes 7.87 GWh annually and has the second-lowest market-value-adjusted energy intensity among the PoS networks studied....
Bitcoin’s BIP 110 fork deadline nears with miner support at zero
Bitcoin's contentious BIP-110 proposal aims to cap arbitrary blockchain data for one year but faces an early August deadline with less than 1% miner support. Major figures like Michael Saylor and Adam Back oppose the measure, arguing it sets a dangerous precedent for consensus changes over policy disputes. Without overwhelming support, BIP-110 will likely create only a minority chain rather than network-wide adoption.