Issuer of USDY (yield-bearing, Treasury-backed). $2.5B+ TVL. 45% of on-chain T-Bill market.
Overview
Ticker
USDY
Backing type
Yield-bearing
Market cap
$500M+
Peg currency
USD
Issuer
Ondo Finance
Auditor
Ankura Trust (trustee & verification agent)
Yield rate
~5% (passes through T-bill yield)
Launch year
2023
Reserves
Short-term US Treasuries and bank demand deposits
Supported Chains
EthereumSolana
Regulatory
MiCA compliant
No
Jurisdiction
United States
SEC Reg D exempt offeringAnkura Trust oversight
Features
Programmable✓
Rebaseable—
Permissioned✓
Cross-chain—
DeFi integrated✓
Institutional grade✓
Use Cases
Tokenized T-bill yieldInstitutional cash managementOn-chain treasury billsRWA DeFi collateral