Stablecoin event
USDY is folded into the Ondo Global Markets umbrella
Ondo states that USDY, formerly issued by Ondo USDY LLC, was folded into the Ondo Global Markets umbrella on 15 December 2025.
ImpactHigh
Detail kindMigration
Sources3
Ondo US Dollar Yield
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Ondo Global Markets (BVI) Limited
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| Date | 2025-12-15 |
|---|---|
| Event type | Issuer Transition |
| Event detail kind | Migration |
| Stablecoin subjects | Ondo US Dollar Yield |
| Organization subjects | Ondo Global Markets (BVI) Limited |
| Impact | High |
| Effect on stablecoin status | Active |
| Recovery / reversal | Not applicable / unresolved |
| Recovery date | — |
| Cause or mechanism | USDY's issuer-side structure moved from Ondo USDY LLC into the Ondo Global Markets umbrella while the product remained active. |
| Record confidence | High |
| Migration summary | USDY's issuer-side structure moved from Ondo USDY LLC into the Ondo Global Markets umbrella while the product remained active. |
|---|
| Source | Publisher | Type | Evidence scope |
|---|---|---|---|
| USDY basics | Ondo Finance | Official Documentation | Tokenized Note, Backing Assets, Issuer Transition, Yield Accrual, Entity Backing and Current Issuer |
| USDY comparison to stablecoins | Ondo Finance | Official Documentation | Not Traditional Stablecoin, Secured Note, Bankruptcy Remote Structure, Legal and Product Classification |
| USDY important notes | Ondo Finance | Official Documentation | Non Us Restrictions, Securities Law, Professional Investor Limits, Eligibility and Legal Restrictions |
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