Tokenization

brand

Ondo Finance is a real-world asset (RWA) tokenization platform that brings institutional-grade financial products on-chain. Its flagship products include USDY, a tokenized note backed by U.S. Treasuries and bank deposits that offers yield to non-US holders, and OUSG, a tokenized short-term U.S. Treasury fund. Launched in 2022, Ondo bridges traditional finance and DeFi by making regulated, yield-bearing assets accessible on multiple blockchains including Ethereum, Solana, and Mantle. The protocol partners with major institutions like BlackRock for underlying assets and has become one of the largest RWA protocols by TVL.

brand

Centrifuge is a real-world asset tokenization protocol that enables businesses to finance their assets on-chain. It allows asset originators to tokenize invoices, real estate, and other financial assets as NFTs and use them as collateral to access DeFi liquidity. Centrifuge was a pioneer in bringing RWAs to DeFi, providing the infrastructure for MakerDAO's first real-world asset vault. The protocol operates its own blockchain (Centrifuge Chain) built on Substrate and its lending dApp Tinlake (now Centrifuge App) connects real-world borrowers with on-chain lenders. CFG serves as the native governance and staking token.