Introduction: Tokenized Securities Protocols
Ondo Finance and Backed Finance both bring traditional securities on-chain, but with different approaches. Both enable DeFi users to access traditional asset yields through tokenized wrappers.
Ondo focuses on tokenized US Treasury products with USDY and OUSG. US-based with institutional infrastructure, focused on regulatory compliance and broad DeFi integration.
Backed offers tokenized versions of various assets including stock ETFs (bIB01 for treasury ETF, bCSPX for S&P 500). Swiss-regulated with European compliance focus.
Ondo products include USDY (Treasury-backed yield token) and OUSG (government securities). Focus on stable, yield-generating dollar products.
Backed products include tokenized ETFs tracking various indices. Broader asset class exposure including equities.
Ondo USDY offers approximately 5% APY tracking Treasury rates. Backed tokens track underlying ETF performance with equity exposure through bCSPX.
The verdict: Choose Ondo for straightforward Treasury yield with maximum DeFi composability. Choose Backed for broader asset class exposure.
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Track tokenized securities with Fensory.