USDY (USDY) token has just landed on TruBit, providing Treasury-backed yields

Rather than just holding regular stablecoins that sit there idle, people can now earn the return available on U.S. Treasuries without the involvement of traditional banks.

Big news for Latin American crypto users - Ondo Finance's (ONDO) USDY (USDY) token has just landed on TruBit, providing Treasury-backed yields to folks in Mexico, Argentina, Brazil and beyond.

Rather than just holding regular stablecoins that sit there idle, people can now earn the return available on U.S. Treasuries without the involvement of traditional banks.

TruBit is already one of the go-to platforms for cross-border payments in Latin America, but now they're sweetening the deal further with USDY (currently paying about 4.25% APY, though this rate fluctuates monthly).

That's pretty seductive to people living in countries where financial solvency is not a guarantee. The token's already got major momentum, having seen over $630 million in investment on different chains.

How it works: USDY tokens are backed by real short-term Treasury investments within a legal structure. Outside the U.S., you can enter or withdraw daily, so quite flexible. Think of it as having your crypto and eating it too.

The company describes itself as "the ease of crypto with the safety of government-backed U.S. dollars." This could be a huge deal for people who struggled with options for banking.

As Ondo's Katie Wheeler describes, this partnership is "significant for providing reliable yields to Latin American users."

The entirety of it is constructed to be legitimate - there is basic KYC verification (sorry, no U.S. investors) but they've also made it "bankruptcy-remote," so your money is safe should Ondo hit trouble.

Users can either leave USDY in their TruBit wallet or spend it when they want to exchange the token for goods and services. Whether people will pile into a yield-paying stablecoin is anyone's guess - but there is certainly hunger for better financial products throughout Latin America.

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