Compare Ondo Finance and WBTC on TVL, fees, revenue and activity to understand how these projects stack up.
$3.498B
Ondo Finance tokenises U.S. Treasuries (OUSG) and short‑term corporate notes (USDY), letting DeFi users earn off‑chain yield without KYC for small tickets. Redemptions above $100k trigger regulated KYC/AML, and tokens are soul‑bounded during the settlement window to comply with securities exemptions. OUSG is used as backing collateral for Flux’s RWA stablecoin and is integrated in Curve’s stableswap set.
Wrapped BTC (WBTC) is a Bitcoin‑backed ERC‑20 minted by BitGo under a multi‑sig controlled by merchants and custodians. Each token is 1:1 redeemable for BTC, with reserves published every 24 hours and verifiable on chain. WBTC accounts for more than 70 % of tokenised bitcoin on Ethereum and serves as core collateral for Aave, Maker and Compound.