Ondo And LayerZero Launch Cross-Chain Bridge For Onchain Securities On Ethereum And BNB Chain
Ondo Finance is a decentralized finance (DeFi) platform that goals to attach conventional monetary markets with blockchain know-how by means of the tokenization of real-world belongings. The platform has launched the Ondo Bridge, a cross-chain infrastructure for tokenized equities and exchange-traded funds, developed in partnership with LayerZero.
The bridge is presently operational on Ethereum and BNB Chain, with plans to increase help to extra EVM-compatible networks. It permits cross-chain transfers of tokenized shares and exchange-traded funds (ETFs) whereas permitting present LayerZero-integrated protocols, wallets, and functions to help Ondo Global Markets belongings. At launch, the bridge helps a couple of hundred tokenized belongings, making it the biggest cross-chain resolution devoted to tokenized securities.
Since its debut on Ethereum in September, Ondo Global Markets has grown into the biggest platform for tokenized securities, exceeding $350 million in complete worth locked and greater than $2 billion in cumulative buying and selling quantity. The latest growth to BNB Chain gives entry to onchain fairness merchandise for a big consumer base and a broad decentralized finance ecosystem. Through the Ondo Bridge, over 100 tokenized shares and ETFs can now transfer between Ethereum and BNB Chain with one-to-one asset consistency, utilizing an infrastructure designed to fulfill institutional requirements for reliability and consistency.
The up to date bridging framework, constructed on LayerZero, replaces earlier approaches that relied on separate bridges for particular person belongings. Under the brand new design, all Ondo Global Markets belongings function inside a single unified cross-chain structure, eradicating the necessity for a number of bridge contracts throughout networks.
This construction helps sooner growth to extra EVM chains, permits a single standardized route for asset transfers, and is meant to scale effectively because the variety of supported belongings and networks will increase.
Ondo Bridge To Enable Over 2,600 LayerZero-Integrated Apps To Support Tokenized US Equities
According to Ondo Finance, with the infrastructure now operational, greater than 2,600 functions that already use LayerZero on Ethereum and BNB Chain are in a position to help Ondo Global Markets belongings with restricted extra growth effort. Certain protocols, together with Stargate, have already included these belongings into their methods. The Ondo Bridge for tokenized equities is designed to allow broad interoperability throughout a number of blockchain networks and to place Ondo belongings as a foundational real-world asset part inside decentralized finance.
The established structure permits the Ondo Bridge to be deployed to extra EVM-compatible networks at a considerably accelerated tempo. This method expands availability to tokenized US market belongings and helps the event of latest cross-chain decentralized finance functions centered on tokenized shares and exchange-traded funds.
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