Ondo and Noble collaborate to launch the native yield stablecoin USDY on Cosmos.

Noble and Ondo have collaborated to launch the first native yield stablecoin USDY on Cosmos. USDY is a tokenized note backed by short-term U.S. Treasury bonds and U.S. bank demand deposits. It is reported that several other DeFi projects will also utilize USDY, including Injective, Osmosis, Kujira, and Pyth.