Ondo Finance
Ondo Finance is a leader in tokenizing real-world assets, offering stablecoin products like USDY for stable returns linked to U.S. Treasury yields.
HeadquartersNew York, United States
Founded2021
CEONathan Allman
StagePrivate
FoundersNathan Allman, Pinku Surana
Key InvestorsFounders Fund, Pantera Capital, Coinbase Ventures
Websiteondo.finance ↗
LinkedInondo-finance ↗
GitHub@ondoprotocol ↗
Products
Ondo Finance is a prominent player in the tokenization of real-world assets, focusing on U.S. Treasury products and equities. Founded in 2021, the company is headquartered in New York and led by CEO Nathan Allman.
Funding
| Round | Amount | Year |
|---|---|---|
| Seed | $4M | 2021 |
| Series A | $20M | 2022 |
Frequently Asked Questions
Is USDY a stablecoin?
USDY is commonly grouped with stable-value dollar assets, but Ondo describes it as a tokenized note rather than a conventional payment stablecoin. Its economics come from a yield-bearing portfolio rather than a simple par-value cash reserve token.
How is USDY backed?
Ondo documentation states that USDY may be secured by short-term U.S. Treasuries, shares of the iShares Short Treasury Bond ETF or bank demand deposits, depending on issuance date. Independent explainers describe USDY as a senior unsecured claim on a portfolio held by Ondo USDY LLC before its transfer into the Ondo Global Markets structure.
Does USDY hold U.S. Treasuries?
Yes, U.S. Treasury exposure is a core part of the USDY design. Ondo states that USDY may be secured by short-term U.S. Treasuries and related short-duration instruments, with the exact collateral depending on issuance date.