Ondo Finance has introduced a Solana-based institution-grade bridging infrastructure that allows transfers of real-world assets between various ecosystems. The technology development presents new cross-chain features for USDY that enable users to transfer this token via Solana between EVM-compatible networks.
USDY now available across Solana, Ethereum, Arbitrum, and Mantle
With more than $170 million in USDY total value locked (TVL) on Solana, this expansion connects it to Ethereum, Arbitrum, and Mantle. As noted on an official X post by Ondo Finance, the bridging process uses a burn-and-mint mechanism facilitated by LayerZero. This method reduces the need for external capital and maintains a 1:1 transfer ratio across chains.
Through this integration, users can reach wider market liquidity and simultaneously spread their funds across multiple blockchain systems, enabling more effective asset swaps between networks. Transfers incur gas fees only, without extra counterparty risks. The system eliminates slip errors while it combines major blockchain platforms into a Unified Platform.
Ondo plans to expand beyond tokenized treasuries by launching onchain U.S. equities through its upcoming Ondo Global Markets initiative. The current infrastructure supports this goal by allowing RWAs to move across ecosystems with minimal trust assumptions.
SOL and ONDO price reaction revealed
Following the announcement, a varied market trend has been noted in the current market performance of Solana and Ondo. According to a comparison chart by CoinMarketCap at the time of press, ONDO is priced at $0.9067, down 2.21% over the past 24 hours. The 24-hour trading volume dropped 18.04%, totaling $163.81 million. Market capitalization stands at $2.86 billion, with 3.15 billion ONDO in circulation.
ONDO’s TVL is $1.03 billion, and the market cap/TVL ratio is 2.75. ONDO’s performance closely tracked but underperformed SOL, which is priced at $150.54, down 0.91%. ONDO experienced a steeper decline during the same timeframe, showing a larger intraday loss of nearly -4% before a minor recovery.
