The partnership will allow Wellington to launch its own tokenized U.S. Treasury Fund, known as the Delta Wellington Ultra Short Treasury On-Chain Fund.
The tokenization effort is spearheaded by Libeara, which is backed by Standard Charter’s venture arm. Ondo will provide 24/7 redemption capabilities, allowing investors to manage or exit positions at any time, with the goal of facilitating use within Decentralized Finance (DeFi).
“By enabling 24/7 redemptions, Ondo Finance is ensuring that tokenized assets can be most effectively used as collateral and for cross-border settlement, including in the digital assets ecosystem,” Ondo Finance CEO Nathan Allman said.
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#undefined [Source: TheDefiant]