BiLira Kripto, one of Turkey’s largest crypto exchanges, has integrated Ondo Finance’s USDY token into its platform. This move aims to improve the yield of tokenized US investments for Turkish users. It is the first time USDY is available on a Turkish exchange. This marks a major milestone in expanding access to tokenized US Treasuries in the country.
Through this integration, over 10 million crypto users in Turkey can now gain exposure to daily yield collateralized by US Treasuries. This aligns with Ondo Finance’s overall vision to offer institutional-quality financial products to the world. USDY has an annual percentage yield of 5.05%. It is updated monthly and provides users with the features of stablecoins with yields and protection measures characteristic of traditional finance.
In her statement, Katie Wheeler, the VP of Partnerships at Ondo Finance, said the company was excited to partner with BiLira Kripto, the first exchange in Turkey to support USDY. She pointed out that this partnership enables users from all over the world to gain access to actual assets and fosters Ondo’s further growth in Turkey. BiLira Kripto now provides a basic interface for Turkish users to generate institutional-quality yield backed by US Treasury.
BiLira Kripto Expands Access to US Treasuries with USDY Token
Mr. Sinan Koç, the co-founder and CEO of BiLira, also expressed similar excitement. He stressed that this partnership aims to expand BiLira’s mission of being a bridge between Turkish investors and global crypto markets. With USDY, Turkish users can directly invest in short-term US Treasuries, which is substantial value for local investors in search of safe and high-return assets.
To buy USDY on BiLira Kripto, users can go to the ‘Earn’ tab in the platform’s application or on the website. USDY can be bought with USDT or TRYB. Once purchased, users earn a 5.05% Annual Percentage Yield, collateralized by US federal government securities.
With this integration, BiLira Kripto furthers its proposition for Turkish crypto investors, offering them a chance to invest in institutional-grade financial instruments. It also expands the link between the conventional financial industry and the emerging crypto space.
