Price
$0
+$0.0001 today
APY¹
0.00%
TVL
$0
Available on
$1.1395
+$0.0001 today
1W
1M
1Y
ALL
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
,BNB Chain
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
USDY
Accumulating
An "accumulating" token that reflects income in the form of an increasing share price.
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.
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.
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.
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.
Current TVL
$2.16B TVL
1W
1M
1Y
ALL
Chart values as of 8:00:00pm EDT.
Portfolio Overview
As of July 13, 2026 7:59:59pm EDT
Value of USDY Outstanding3
$2.13B
Value of Underlying Assets4
$2.17B
Collateralization Ratio5
104.44%
%
Position
Current Value⁶
$2,166,455,047
WAM⁷
167.4 days
YTM⁸
3.80%
98.64%
US Treasuries
$2,137,099,416
169.69
day(s)
3.80%
1.22%
OGM issued USDY - USD Value
$26,352,172
1
day(s)
3.60%
0.14%
Silicon Valley Bank - Bank Deposits
$2,998,084
1
day(s)
2.95%
<0.01%
Other Cash and Cash Equivalents
$5,374
1
day(s)
0.00%
Show 0 More Positions
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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 about yieldcoins
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 about who can mint and redeem USDY
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 about how USDY is lower risk than stablecoins
Where is USDY available?
You can buy directly from Ondo once you complete onboarding. Begin Onboarding
USDY can also be traded peer-to-peer on the blockchains on which it is issued.
Insights & Intelligence
Independent Research
