Ondo Finance has launched its yield-bearing token USDY on the Sei Network, marking the first permissionless tokenized U.S. Treasury asset on the platform. USDY, backed by tokenized short-term U.S. Treasuries and bank deposits, offers Sei ecosystem users and institutions direct access to yield-generating Treasury assets. The token can also be utilized as an ERC-20 asset for DeFi lending, collateral, trading, and cross-chain transfers.