USDY
Ondo US Dollar Yield
active
Yield Bearing
Market Cap $1.3B
USDY is a yield-bearing stablecoin by Ondo Finance, backed by U.S. Treasuries and bank deposits, launched in 2023.
Key Data
| Backing | Short-term U.S. Treasuries and bank demand deposits |
| Redemption | Non-U.S. investors can mint and redeem USDY on any business day, with subscriptions via stablecoins and USD wire transfers. |
| Peg Currency | USD |
| Launched | 2023 |
Supported Networks
EthereumSolanaSuiAptosStellarArbitrumMantle NetworkPlume NetworkNoble
Overview
USDY is a stablecoin introduced by Ondo Finance in August 2023, designed to provide yield while maintaining stability.
How It Works
USDY is backed by short-term U.S. Treasuries and bank demand deposits, offering a stable asset with yield generation.
Reserve Backing
The reserves are composed of U.S. Treasuries and bank deposits, though specific auditor details are undisclosed.
Supported Networks
USDY is available on multiple blockchain networks including Ethereum, Solana, Arbitrum, Sui, Aptos, Mantle Network, Plume Network, Noble, and Stellar.