Ondo Finance Joins Mastercard Network

Tokenized real-world asset (RWA) issuer Ondo Finance has joined the Mastercard network to enhance cross-border payments for financial institutions and businesses.

Ondo’s Short-Term U.S. Government Treasuries Fund (OUSG) will be accessible to businesses via Mastercard’s Multi-Token Network (MTN), allowing them to earn yield through tokenized assets, as announced in an email on Wednesday.

The majority of OUSG’s assets are invested in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), the largest blockchain-based money market fund backed by short-term U.S. government bonds.

Mastercard’s MTN provides API-enabled blockchain tools that enable banks to streamline both domestic and cross-border transactions.

The development of blockchain-based networks by traditional financial giants like Mastercard allows other financial institutions and corporates to access cryptocurrency and digital assets without needing to establish additional crypto infrastructure or accounts.