← Back to atlas

USDY — Ondo Finance

Tokenized note backed by short-term US Treasuries, passing ~5% yield to non-US holders.

Visit official site ↗
Category
Tokenized MMF / Yield-bearing
Regulatory regime
Offshore / Light-touch
Issuer
Ondo Finance
Region
Global (ex-US)
Peg
USD (yield-bearing)

Blockchain protocols

EthereumSolanaAptosSuiMantle

How it works

Investors deposit USDC/USD; Ondo issues USDY representing a bankruptcy-remote SPV holding T-bills.

Revenue model

Spread between T-bill yield and APY paid to holders.

Regulation

Reg S; non-US retail.