Ondo Finance's revenue-generating treasury stablecoin USDY is now live on Aptos

The Aptos Foundation has announced the launch of Ondo Finance's income-based stablecoin stablecoin, Ondo US Dollar Yield (USDY), on the Aptos blockchain, according to Cointelegraph.

USDY is described as a financial instrument backed by U.S. Treasuries and is available to non-U.S. residents through the Aptos blockchain, and the digital asset has not yet been registered under the U.S. Securities Act.In its announcement, the Aptos Foundation noted that stablecoins have advantages in providing services to underserved communities and democratizing finance.