Aptos Foundation Launches Yield-Bearing Stablecoin USDY and $10 Million Fund for Web3 Growth

The Aptos Foundation has announced the launch of Ondo Finance's yield-bearing stablecoin, the Ondo US Dollar Yield (USDY), on the Aptos blockchain.

This new stablecoin is designed to combine the accessibility of traditional stablecoins with the yield associated with high-quality US dollar-denominated assets, as it is secured by short-term US Treasuries and bank demand deposits.

In a separate development, the Aptos Foundation, in collaboration with OKX Ventures, has unveiled a $10 million fund aimed at supporting the growth of the Aptos ecosystem and promoting the adoption of Web3 technologies. This fund will focus on key projects that are essential for the evolution and expansion of the Aptos blockchain ecosystem.

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