RWA protocol Ondo Finance will expand its flagship product USDY to the Sui network

According to The Block, Ondo Finance announced that its USDY stablecoin will expand to the Layer1 Sui blockchain of Mysten Labs. The company stated: This expansion will bring the first dollar-denominated native token on the Sui Network (including stablecoins and interest-bearing stablecoin alternatives). USDY is a tokenized note supported by short-term US Treasury bonds and bank demand deposits.