Ondo (ONDO) announced that it will distribute a significant portion of its OUSG (Ondo Short-Term US Government Bonds) assets to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
Following the development, there was a sudden increase in the price of the altcoin:
Until now, withdrawals from the OUSG fund have been restricted by traditional “+2 days post-trade” security closing periods, causing delays in investors getting their USD back after the sale of the underlying securities.
However, with the introduction of “+1 day after transaction day” for many types of securities, ONDO believes it has the opportunity to benefit from faster processing, one of the most important advantages of blockchain.
In response, ONDO announced that OUSG will soon offer instant investment and redemption, available 24/7/365.
Additionally, ONDO is introducing a new type of OUSG, the rUSG, with a fixed issue/redemption price of $1.00 per share. Yield will be distributed daily in the form of additional rUSG tokens via token reminting.
*This is not investment advice.