USDY

Ondo US Dollar Yield Token*

The Global Standard
for DeFi

The world's leading permissionless yieldcoin. Enjoy the utility of stablecoins, now with safer dailyyield.

Buy USDY Redeem USDY

Price

+$0.0001 today

APY¹

0.00%

TVL

Available on

Safe, Daily Yield.Now 3.75% APY. ¹

USDY is the world's first freely transferable² yield-bearing token secured by US Treasuries. USDY accrues yield daily, whether you're staking, borrowing, pledging, or just holding it.

Buy USDY

$1.1506

+$0.0001 today

ALL

USDY In Detail.

USDY is a yield-bearing token available natively across many of the largest blockchain networks. USDY is accessible to non-US individuals and institutional investors.

Eligibility

Non-US Individuals & Organizations

Underlying Assets

Bank Deposits; Short-Term US Treasuries

Liquidity

Daily Subscriptions & Redemptions

Transferability

Freely Transferrable²

Legal Structure

Debt Issued by Bankruptcy-Remote Entity

Use Cases

Cash Management; Yield-bearing Collateral

Regulatory Compliance

Continuous Regulation S Offering

Issuer Domicile

United States

Available Networks

Ethereum

Mantle

Solana

Sui

Aptos

Noble

Arbitrum

Stellar

Sei

Tempo

BNB Chain

Security, Utility & LiquidityAll in One.

Widely Accessible

Supported by the most widely-used blockchains and DeFi projects globally.

Learn More about Widely Accessible

Yield-Bearing

Get the accessibility of stablecoins while earning yield.

Learn More about Yield-Bearing

Composable & Permissionless

USDY is compatible with smart contracts, enabling onchain lending, trading, derivatives and more.

Learn More about Composable & Permissionless

Daily Liquidity

Mint and redeem USDY 24/7, even on weekends and bank holidays.

Learn More about Daily Liquidity

Trusted & Transparent

USDY is over-collateralized with third-party reserve attestations published daily.

Learn More about Trusted & Transparent

Bankruptcy Remoteness

Designed to be bankruptcy-remote, safeguarding investor assets from unlikely events.

Learn More about Bankruptcy Remoteness

Assets

Yield. However You Want It.

Choose between two versions of USDY based on how you want to manage your yield, then convert between them at any time with no slippage.

Convert Learn More

USDY

Accumulating

An "accumulating" token that reflects income in the form of an increasing share price.

Buy USDY

Example

If Alex has one accumulating USDY token worth $1 and accrues one dollar of yield, he now has one USDY token worth $2.

rUSDY

Rebasing

A "rebasing" token with a stable $1 value that pays out interest daily via new token rebasement.

Convert to rUSDY

Example

If Alex has one rebasing rUSDY token worth $1 and accrues one dollar of yield, he now has two rUSDY tokens, each still worth $1 apiece.

Use Cases

Universal Utility, From Protocols to Payments.

USDY’s liquidity, stability, and high-quality yield make it ideal for cash management, lending, borrowing, payments, collateral, and more.

Buy USDY

For Individuals

Onchain Savings

Earn yield on your idle balances with the equivalent of an onchain savings account.

DeFi

Supported by some of the largest DeFi protocols on leading blockchains as collateral for derivatives, perpetuals, and more.*

Borrowing & Lending

Pledge USDY as collateral and earn yield while you borrow.*

Global Access

USDY provides global (non-US) access to the yield and relative stability of US Treasuries.

For Organizations

Cash Management

Earn low-risk yield on your treasury, with daily mint and redemption.

Crypto Capital Markets

Add USDY into your DeFi protocol, exchange, wallet, or app for your users to hold, stake, use as collateral, and more while earning yield.*

Merchant Settlements

Shopify merchants worldwide can accept payments in cryptocurrencies with real-time conversions settling in USDY.

Cross-Border Payments

Conduct secure, cost-effective, and near-instant cross-border payments while having access to US Treasuries-backed yield.

Holdings

Transparent & Secure.

Built for transparency and bankruptcy remoteness, USDY is secured by a portfolio of short-term US Treasuries with daily proof of reserves and third-party oversight.

Daily Attestation Reports

Monthly Attestation Reports

Trust & Transparency

Current TVL

$2.37B TVL

ALL

Chart values as of 8:00:00pm EDT.

Portfolio Overview

As of October 22, 2026 7:59:59pm EDT

Value of USDY Outstanding³

$2.06B

Value of Underlying Assets⁴

$2.40B

Collateralization Ratio⁵

153.73%

Position

Current Value⁶

$2,404,341,313

WAM⁷

177.48 days

YTM⁸

4.06%

87.11%

US Treasuries

$2,094,366,236

203.6

day(s)

4.13%

12.87%

SHVon — iShares 0–1 Year Treasury Bond ETF (Ondo Tokenized)

$309,364,703

day(s)

3.60%

0.02%

Silicon Valley Bank - Bank Deposits

$599,553

day(s)

2.95%

<0.01%

Other Cash and Cash Equivalents

$10,821

day(s)

0.00%

Show 0 More Positions

Ecosystem

Explore the Ecosystem.

USDY is supported by some of the largest blockchain networks, DeFi projects, and institutional partners.

View the Ecosystem

USDY

Ethereum

0x96F6...985C

Mantle

0x5bE2...c5A6

Solana

A1KL...Eto6

Sui

0x960b...USDY

Aptos

0xcfea...USDY

Noble (Cosmos)

ausdy

Arbitrum

0x35e0...9A9D

Stellar

USDY...DAZ6

Sei

0x54cD...e2A6

Tempo

0x20c0...eFf9

BNB Chain

0x6085...D32E

rUSDY

Ethereum

0xaf37...b879

Mantle

0xab57...7cF3

Contact Us.

Interested in one of our products or have a question? Send us a message and we'll get back to you shortly.

You can send us a message by filling out the adjacent form or by emailing us at support@ondo.finance

We're always improving the client experience, growing liquidity, providing more options, and building our one-of-a-kind community one brick at a time. If you provide a first-class digital assets service that incorporates our products we want to hear from you!

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FAQ

What is a yieldcoin?

A yieldcoin is a token backed by cash-equivalent real-world assets like US Treasuries that also accrues yield daily. USDY is a yieldcoin, but not a stablecoin. Like stablecoins, USDY operates as a permissionless bearer asset that can be transferred to without needing to be onboarded first. Unlike stablecoins, however, USDY accrues yield every day. Learn more

Who is eligible to buy USDY?

USDY is currently accessible to non-US individuals and institutional investors. Additional eligibility restrictions apply. You can learn more about eligibility and availability requirements here.

Who can mint and redeem USDY?

USDY is offered under a "Regulation S" exemption from the SEC. This exemption requires that Ondo only offer this product to non-US individuals or entities. Likewise, USDY can only be redeemed by non-US persons individuals or entities. Additional restrictions apply. Learn more

How can USDY be lower risk than stablecoins?

We have worked closely with our attorneys, among other specialists, to design the structure to comply with securities laws, tax laws, anti-money laundering laws, and other regulatory requirements. USDY is a type of bearer note that is distributed to non-US investors in accordance with Regulation S under the US Securities Act of 1933, as amended.Creating a product that meets these requirements does impose some limitations, however—for example, we can only redeem to USD via bank wire to non-US bank accounts. Learn more

Where is USDY available?

You can buy directly from Ondo once you complete onboarding. Begin OnboardingUSDY can also be traded peer-to-peer on the blockchains on which it is issued.

See our full FAQ