Ondo Finance, a trailblazer in decentralized finance (DeFi), has unveiled a strategic alliance with Zebec Network, a platform specializing in tokenized real-world assets (RWA).
The primary objective of this collaboration is to elevate real-time payroll payments through the utilization of Zebec’s cutting-edge payment technology in tandem with Ondo’s USDY stablecoin system.
Ondo Finance’s Partnership With Zebec Network
The collaboration endeavors to broaden the utilization of USDY, a stablecoin renowned for its reliability and efficacy. It will also integrate Zebec’s Instant Card technology and RWA payment solutions.
The amalgamation of these technologies aspires to furnish companies, traders, and individual users with financial services that are “real, free, and hassle-free,” thereby enhancing the efficiency and overall experience of payroll and financial management.
Justin Schmidt, President of Ondo Finance, expressed, “Zebec Network’s continuous payment technology revolutionizes payroll by enabling payments per second, improving efficiency and ultimately the end-user experience. Zebec’s integration of USDY into its payment solutions is an exciting option but logical.”
The incorporation of USDY into Zebec’s array of products marks a substantial stride in redefining global financial ecosystems.
With the current capitalization of $7.8 trillion and an 11.3% growth rate, the RWA market presents a significant opportunity for both entities. The daily trading volume within this ecosystem stands at $494.3 million, reflecting robust activity and the potential for further expansion.
Sam Thapaliya, Founder of Zebec Network, remarked, “This integration marks a significant advance in our shared quest to redefine financial ecosystems globally. By incorporating USDY, an RWA asset, we further enhance Zebec’s suite of products, empowering businesses and individuals to manage their finances with immediacy and unprecedented efficiency.”
The announcement had a positive impact on Ondo Finance’s native token, ONDO, which surged by 6% from $0.76 to $0.83 before stabilizing at $0.80. Additionally, ONDO’s trading volume witnessed a 4.78% increase, and its market capitalization grew by 0.98%, reaching $1.10 billion.
This response underscores the market’s confidence in the new partnership and its potential to revolutionize financial services.
