Ondo Finance Partners with TruBit Global to Launch $USDY in Latin America

On May 12, 2025, Ondo Finance announced a partnership with TruBit Global, a leading crypto payment and trading platform in Latin America, to integrate $USDY, a yield-bearing stablecoin backed by tokenized US Treasuries. This marks $USDY’s debut in the region, enabling users in Mexico, Argentina, Brazil, Peru, and Colombia to access stablecoin utility alongside attractive yields. The collaboration aligns with Ondo’s mission to democratize institutional-grade financial products, tapping into Latin America’s growing demand for stablecoins amid economic volatility.

Ondo Finance and $USDY: Bridging Traditional Finance with DeFi

Ondo Finance, a DeFi protocol founded in 2021 by Nathan Allman, specializes in tokenizing real-world assets (RWAs) to bring institutional-grade financial products to the blockchain. With over $1.19 billion in total value locked (TVL) as of May 13, 2025, Ondo has emerged as a leader in the RWA space. $USDY, its flagship yield-bearing stablecoin, is permissionless, freely transferable after a 40-day holding period, and supports 24/7 minting and redemption. Compatible with smart contracts, $USDY enables on-chain lending, trading, derivatives, and more, and is currently available on eight blockchains, including Ethereum, Mantle, Solana, Sui, and Aptos.

Designed for global markets, $USDY provides investors worldwide with access to US Treasury yields and relative price stability. However, due to regulatory restrictions, it cannot be offered to US investors or persons. Despite these limitations, $USDY has gained significant global traction, boasting a market cap of $586.8 million as of May 13, 2025.

TruBit Global: A Gateway to Latin America

TruBit Global, a Mexico-based cryptocurrency wallet and trading platform, serves 1.4 million users across Latin America, focusing on seamless conversions between local currencies and digital assets. The platform has established itself as a leader in the region by integrating regional payment infrastructure, enabling users to navigate economic challenges like inflation and currency devaluation. TruBit’s partnership with Ondo Finance marks a strategic expansion, offering its users access to $USDY’s yield-generating capabilities while maintaining liquidity for everyday transactions in pesos or other local currencies.

Katie Wheeler, Ondo Finance’s VP of Partnerships, highlighted the significance of the collaboration: “We’re thrilled to see TruBit support USDY’s expansion into Latin America. By adding support for USDY, TruBit now provides a critical access point in the region for both institutions and retail customers to acquire a truly global and composable yieldcoin.”

Latin America’s Growing Demand for Stablecoins

Latin America’s crypto adoption has surged in these years, driven by economic instability and a need for reliable financial tools. In its March 2025 report, Bitso described stablecoins as a safe haven in Latin America’s unstable economic context, noting that they account for 39% of total cryptocurrency trading volume in the region. In Argentina, where inflation has surpassed 100%, USDT and USDC dominate, comprising 72% of local crypto transactions. This creates a vast potential market for diverse stablecoin products. Payment giant Stripe also launched stablecoin financial accounts in May 2025, targeting 101 countries and regions, including developing markets in Latin America and Africa, to facilitate Web3 payments.

Unlike traditional stablecoins, Ondo’s $USDY offers a yield-bearing feature, allowing users to earn a share of US Treasury yields while benefiting from relative stability through holding or staking. This gives $USDY a unique edge in competing with stablecoin giants like USDT and USDC in Latin America. With Ondo’s robust on-chain technology and TruBit’s established reputation in the region, $USDY has the potential to gain traction in Latin America, offering accessibility and stable returns to meet the market’s needs.