USDY is a yield-bearing stablecoin by Ondo Finance, backed by U.S. Treasuries and bank deposits, available on multiple blockchains.
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 wires, and redemptions through wire transfers only. |
| KYC Required | Yes |
| Peg Currency | USD |
| Yield-Bearing | Yes |
| Launched | 2023 |
Supported Networks
Cross-Chain Supply (DefiLlama · $2.1B total)
Use Cases
Overview
USDY is a stablecoin launched by Ondo Finance in August 2023, designed to provide yield-bearing opportunities through its backing by short-term U.S. Treasuries and bank demand deposits.
How It Works
USDY can be minted and redeemed by non-U.S. investors on any business day, with a transferability period of 40-50 days post-issuance. KYC/KYB processes are mandatory for transactions.
Reserve Backing
The stablecoin is secured by high-quality financial instruments, ensuring stability and yield generation.
Supported Networks
USDY is compatible with multiple blockchain networks, including Ethereum, Solana, Arbitrum, Sui, Aptos, Mantle Network, Plume Network, and Noble.
Other USD Stablecoins
Data source: CoinGecko ↗