🔥Hot off the press! Ondo Finance's governance token (ONDO) is on a roll, soaring after testing the new instant conversion feature between Circle's USDC stablecoin and BlackRock's BUIDL token. 💸💸

An Ondo wallet on Ethereum swapped a cool $250k worth of BUIDL tokens for USDC, according to Etherscan data. This was a test run of the USDC-to-BUIDL feature, says Ondo Finance CEO Nathan Allman. "We are using it to power instant 24/7/365 redemptions of OUSG into USDC," he added.

Remember, OUSG is the Ondo Short-Term U.S. Government Treasuries token backed by securities sold by the U.S. government. 🏦

ONDO surged by as much as 8% as news about the transaction started making rounds in the crypto circles on social media.

BlackRock, a financial powerhouse, made waves last month by entering the asset tokenization race. Its USD Institutional Digital Liquidity Fund, created with Securitize, holds cash, U.S. Treasury bills and repurchase agreements.

Investment in the fund is represented by the Ethereum-based BUIDL token, which provides yield paid out via blockchain rails every day to token holders. Ondo Finance was one of the early adopters of the fund, using it as a backing asset for its OUSG token.

What are your thoughts on this? Let's chat in the comments! 🚀🚀