Stablecoin record
Ondo US Dollar Yield
Ondo tokenized secured note backed by short-term U.S. government assets and bank deposits, designed to provide dollar-denominated yield to eligible non-US investors.
LifecycleActive
Events1
Sources3
| Symbol | USDY |
|---|---|
| Asset class | Stable Value Asset |
| Reference target | Fiat |
| Redemption / exit model | Eligible Customers Only |
| Valuation source | Public information is incomplete |
| Yield / rebase profile | None recorded |
| Classification notes | Tokenized secured note, explicitly not classified by Ondo as a traditional stablecoin. |
| Lifecycle status | Active |
| Issuance status | Restricted |
| Peg reference | Fiat · USD |
| Backing types | Government Securities, Bank Deposits, Tokenized Fund |
| Stabilization | Fund Share Valuation |
| Governance | Centralized |
| Primary organization | Ondo Global Markets (BVI) Limited |
| Primary role | Legal Issuer |
| Last reviewed | 2026-06-15 |
| Organization | Role | From | Until | Relationship status |
|---|---|---|---|---|
| Ondo Global Markets (BVI) Limited | Legal Issuer | 2025-12-15 | — | Active |
All stablecoins
Compare this record with the rest of the archive.
Ondo Global Markets (BVI) Limited
Regulated Financial Company · British Virgin Islands
Event history
1 event connected to this stablecoin.
| Disclosure status | Issuer Disclosures and Onchain Oracle |
|---|---|
| Backing types | Government Securities, Bank Deposits, Tokenized Fund |
| Summary | Depending on issuance date, USDY may be secured by short-term U.S. Treasuries, short-duration U.S. Treasury ETF shares, or bank demand deposits. |
| As of | 2026-06-15 |
| Profile confidence | High |
| Current status | Eligible Customers Only |
|---|---|
| Settlement asset | USD or supported settlement assets under the offering terms |
| Eligible parties | Qualifying onboarded non-US investors; professional or qualified-investor restrictions apply in some jurisdictions. |
| Retail access | Eligible Non Us Investors Only |
| Institutional access | Eligible Non Us Investors Only |
| Minimum amount | Offering, network, and route dependent. |
| Fee | Subscription, redemption, network, and offering-specific costs may apply. |
| Settlement time | Issuer process and network dependent. |
| Regional limits | Not available to US persons., Professional or qualified-investor requirements apply in certain jurisdictions. |
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 3 |
| Reserve reports | 1 |
| Regulatory notes | 0 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 2 |
| Events | 1 |
| Date | Event | Type | Detail kind | Recovered |
|---|---|---|---|---|
| 2025-12-15 | USDY is folded into the Ondo Global Markets umbrella | Issuer Transition | Migration | — |
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| — | Ondo Finance | Issuer Portfolio Disclosures | Government Securities, Bank Deposits, Tokenized Fund | High |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
| Chain | Standard | Deployment | Status | Freeze | Blacklist | Control events | Contract | Notes |
|---|---|---|---|---|---|---|---|---|
| Ethereum | ERC-20 | Issuer Native Tokenized Note | Active | Unknown | Unknown | 0 | Not yet verified | Initial primary USDY deployment coverage; additional network and bridge deployments remain a open question. |
| Source | Publisher | Type | Evidence scope | Reliability |
|---|---|---|---|---|
| USDY basics | Ondo Finance | Official Documentation | Tokenized Note, Backing Assets, Issuer Transition, Yield Accrual, Entity Backing and Current Issuer | High |
| USDY comparison to stablecoins | Ondo Finance | Official Documentation | Not Traditional Stablecoin, Secured Note, Bankruptcy Remote Structure, Legal and Product Classification | High |
| USDY important notes | Ondo Finance | Official Documentation | Non Us Restrictions, Securities Law, Professional Investor Limits, Eligibility and Legal Restrictions | High |
| Topic | What remains unclear | Priority | Last checked |
|---|---|---|---|
| Issuance Specific Collateral Mix | Official documentation states that USDY backing can differ by issuance date; the exact portfolio mix for every outstanding tranche is not normalized here. | Medium | 2026-06-15 |
| Complete Network and Contract Map | USDY exists across multiple supported networks and bridge routes; every native, bridged, and legacy contract is not normalized in this batch. | Medium | 2026-06-15 |