Ondo Finance, together with BlackRock and Securitize, has presented the OUSG proposal to participate in the Spark Tokenization Grand Prix – an open initiative by Sky aimed at attracting up to $1 billion in tokenized real assets and expanding the use of tokenized public securities in decentralized finance. The company announced this on Thursday.
According to Ondo, the proposal will provide SparkDAO and Sky with access to a treasury bond-based product while supporting portfolio diversification and liquidity. "Ondo Finance and its affiliated entities intend to build long-term relationships and be a strategic partner for the Sky ecosystem," said Nathan Allman, founder and CEO of Ondo Finance. "We are pleased to provide the most efficient support for sUSDS and help make it the leading savings instrument on-chain for people worldwide."
OUSG (Ondo Short-Term US Government Treasuries) is a tokenized product based on short-term U.S. government debt, providing eligible investors with on-chain access to short-term government bonds. It is built on BlackRock's BUIDL infrastructure and supports subscriptions and redemptions 24/7 while complying with access rights and transaction limits.
According to Ondo, OUSG currently supports instant subscriptions and redemptions of up to $25 million per day, with plans to expand the limit to $50 million by the end of the year. The total value locked in the product has exceeded $600 million. Ondo noted that if both OUSG and BUIDL are connected, Sky will be able to convert OUSG into BUIDL for rebalancing its RWA portfolio.
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