While partnerships continue in the cryptocurrency sector, the latest partnership news came from the RWA sector.
Popular RWA altcoin Ondo Finance (ONDO) has announced a partnership with Wellington Management, which manages over $1 trillion in assets.
“Wellington Management has partnered with Ondo Finance to provide intraday redemptions for its tokenized U.S. Treasury Fund.
Wellington Management, one of the world’s largest independent asset managers with over $1 trillion in assets, has partnered with Ondo Finance to bring institutional-grade infrastructure to its newly launched tokenized U.S. Treasury fund, Delta Wellington Ultra Short Treasury On-Chain Fund.
This funding is part of a groundbreaking initiative to enable traditional assets on the blockchain led by Libeara, a leading tokenization platform backed by Standard Chartered’s SC Ventures.”
“We are excited to partner with Wellington on this important step for onchain finance,” said Nathan Allman, CEO of Ondo Finance. “By enabling 24/7 redemptions, Ondo Finance ensures that tokenized assets can be used most effectively for collateral and cross-border payments, including across the digital asset ecosystem.”
Following the partnership news, ONDO price experienced a 3% price increase.
1/ Wellington Management Partners with Ondo Finance to Provide Intraday Redemptions for Tokenized US Treasury Fund
Wellington Management (@Wellington_Mgmt) one of the world’s largest independent asset managers with over $1 trillion in assets, has partnered with Ondo Finance to… pic.twitter.com/mLvolid8d9
— Ondo Finance (@OndoFinance) October 30, 2024
*This is not investment advice.
