BiLira Kripto, one of Turkey’s largest crypto exchanges, recently integrated Ondo Finance’s USDY into its ecosystem. This integration aims to enhance the yield of tokenized US investments in Turkey.
https://t.co/U13I0I17i7
— Ondo Finance (@OndoFinance) October 2, 2024
BiLira has established itself as a major blockchain company driven by value in Turkey, providing various unique products. These include BiLira Kripto, an exchange that offers the best pricing and early access to the assets that are in the highest demand all over the world; BiLira TRYB, a stablecoin that is pegged to the Turkish Lira; and BiLira Direct, an on-ramp solution that streamlines the integration of fiat currency for partner applications.
The BiLira Kripto cryptocurrency exchange is a local cryptocurrency exchange that provides the Turkish ecosystem with deep liquidity, the best pricing, and a bridge to worldwide markets—the most liquid RFQ-type exchange in Turkey for market orders, with minimum fees and maximum convenience.
More About this Integration Between Ondo & BiLira Kripto
Users can access Ondo Finance’s USDY, the permissionless yield token used by many users. This marks the first time that USDY is available on a Turkish exchange, which represents a significant milestone in the process of broadening access to tokenized US treasuries for the more than 10 million citizens of Turkey who utilize cryptocurrencies.
Today, customers in Turkey have the opportunity to obtain exposure to daily yield that is collateralized by US Treasuries. This is a significant step toward Ondo’s aim of making institutional-grade financial products and services accessible to all individuals.
In order to start accumulating daily yield, customers of BiLira Kripto can access USDY through the ‘Earn’ area of the BiLira Kripto app and website. Individuals can obtain USDY by using either USDT or TRYB. The holders of USDY immediately begin collecting an annual percentage yield (APY) of 5.05%, which is backed by US Treasuries.
Users are able to access the utility of stablecoins combined with yield and the institutional-grade investor protections of traditional finance through USDY, which currently offers a 5.05% annual percentage yield (APY) and has over 70 integrations across seven different blockchains (Ethereum, Aptos, Solana, Sui, Mantle, Mantra, and Cosmos via Noble). USDY has over 400 million dollars in total value of assets (TVL) and over 70 integrations over seven different blockchains.
Regarding the integration, Sinan Koç, co-founder & CEO of BiLira, said:
“We are excited to further our mission of expanding access to global crypto markets in Turkey by becoming the first exchange in the country to offer USDY. This offering provides investors with the unique opportunity to gain direct exposure to short-term US Treasuries, all within reach through BiLira Kripto. We are thrilled to introduce another powerful financial tool to empower Turkish investors.”
Lastly, this integration is a great advancement for investors in Turkey who want their hands on USDY and its benefits. It is the first time USDY has been listed on a Turkish exchange, so it carries a lot of potential for Turkish citizens.
