Assets · Debt security · issued by Ondo Finance
Ondo US Dollar Yield (USDY)Updated 28 Oct 2026
A tokenised senior secured note from an Ondo special purpose vehicle, backed by short-term Treasuries and bank deposits and sold to non-US investors. Interest accrues in the token price; a rebasing version (rUSDY) is also offered.
Issued through Ondo US Dollar Yield (USDY) Live (scaled)
Classification · low confidence
- Legal form
- Debt security from issuance terms
- Underlying
- Government debt · Government debt 87%, Government debt 13%, Money 0% (26 Oct 2026)
- Value behaviour
- NAV · pays income
- Ledger role
- Native
Secured debt: underlying is the collateral (Treasuries and SHVon, a T-bill ETF tracker). Interest accrues in the price.
Sourced[4]. How assets are classified: methodology.
Contracts
Addresses as published by the issuer. Check them on the explorer before relying on them. Supply per network comes from the issuing deployment's on-chain figures.
| Network | Address | Standard | Supply here | Source |
|---|---|---|---|---|
| Ethereum | 0x96F6eF…CB985C ↗ | ERC-20 | ~$1.23bn | [2] |
| Stellar | GAJMPX5N…TADAZ6 ↗ | Stellar asset | ~$540.64m | [2] |
| Sei | 0x54cD90…60e2A6 ↗ | ERC-20 | ~$261.14m | [2] |
| Solana | A1KLoBrK…7sEto6 ↗ | SPL | ~$181.01m | [2] |
| BNB Chain | 0x608593…7eD32E ↗ | ERC-20 | ~$99.45m | [2] |
| Arbitrum | 0x35e050…DF9A9D ↗ | ERC-20 | ~$3.16m | [2] |
| Mantle | 0x5bE265…57c5A6 ↗ | ERC-20 | — | [2] |
| Sui | 0x960b53…::USDY ↗ | Sui Coin | — | [2] |
| Aptos | 0xcfea86…::USDY ↗ | Aptos coin | — | [2] |
| Noble | ausdy | Cosmos SDK bank denom | — | [2] |
| Plume | 0xD2B65e…B088b2 ↗ | ERC-20 | — | [2] |
| Tempo | 0x20c000…0ceFf9 ↗ | TIP-20 | — | [2] |
Sources
- [1]Ondo Debuts USD Yield (USDY) for Global (Non-US) Individual and Institutional Investors — Ondo Finance (via Cision / AAP), 3 Aug 2023. Accessed 11 Oct 2026.B
- [2]Addresses — Ondo Finance. Accessed 12 Oct 2026.B
- [3]https://web.archive.org/web/20260528170917/https://etherscan.io/token/0x96f6ef951840721adbf46ac996b59e0235cb985c — Etherscan. Accessed 13 Oct 2026. Archived copy (28 May 2026) of the Etherscan page for the address Ondo links; Etherscan labels the token ERC-20 and shows the proxy source as verified..A
- [4]USDY | Ondo Finance — Ondo Finance. Accessed 21 Oct 2026. Collateral as of 20 Oct 2026 ($2.39bn): US Treasuries 87.43%, SHVon (Ondo-tokenised iShares 0-1 Year Treasury Bond ETF) 12.54%, bank deposits 0.03%, other cash under 0.01%. Legal structure given as debt issued by a bankruptcy-remote entity, continuous Regulation S offering..B
- [5]USDY asset page (fund profile metadata) — RWA.xyz. Accessed 21 Oct 2026. Profile metadata read from the page's embedded JSON on 2026-10-21: Price $1.1504 and rising; tokenised note secured by short-term US Treasuries and bank demand deposits..C
- [6]USDY Basics | Ondo docs — Ondo Finance. Accessed 28 Oct 2026. Says USDY was formerly issued by Ondo USDY LLC and as of 15 Dec 2025 has been folded into the Ondo Stocks umbrella; depending on issue date it is secured by short-term Treasuries, iShares short Treasury ETF shares or bank deposits. Web-app purchases now fall under the Ondo Stocks terms; USDC redemptions go through Ondo Global Markets (BVI) Limited..B
- [7]USDY compared with stablecoins | Ondo docs — Ondo Finance. Accessed 28 Oct 2026. States that USDY is issued by Ondo Global Markets (BVI) Limited, a bankruptcy-remote company, and calls Ondo USDY LLC the previous issuer; Ankura Trust acts as verification and collateral agent..B