What is the current price of Ondo US Dollar Yield?
The current price of Ondo US Dollar Yield is $1.15 with a 0.00% change in the last 24 hours.
Ondo US Dollar Yield (USDY) is a tokenized note secured by short-term US Treasuries and bank demand deposits, issued by Ondo Finance through a bankruptcy-remote entity in the United States. It is not a payment stablecoin: it is a debt instrument whose value is designed to rise as interest accrues, so one USDY is worth progressively more than one dollar over time. USDY is offered to non-US investors under Regulation S and is freely transferable on-chain once issued.
Official resources:
USDY comes from Ondo Finance, founded in 2021 by Nathan Allman and Pinku Surana, both formerly of Goldman Sachs.
The company has since been through upheaval. Ondo announced in May 2026 that founder and chief executive Nathan Allman had died at 32, and president Ian De Bode was appointed chief executive. Reporting later in 2026 described a corporate control dispute between Ondo's leadership and Allman's estate over the controlling voting stake.
An eligible investor subscribes by sending dollars or approved stablecoins to Ondo, and USDY is minted to their wallet. Proceeds buy short-duration US Treasuries and sit in bank demand deposits in segregated custody. Interest accrues to the token rather than being paid out, so USDY's redemption value increases daily.
Ondo also offers rUSDY, a rebasing version that holds a constant one dollar unit value and delivers the same yield by increasing the token count.
USDY is a yield-bearing dollar instrument. It is used to hold short-duration Treasury exposure on-chain, as collateral in lending and derivatives venues that accept it, as a treasury asset for non-US on-chain organizations, and as a settlement asset where a yield-bearing unit is preferred. It carries no governance rights.
Most tokenized Treasury products are locked behind whitelists and cannot move freely between wallets. USDY was designed to be transferable after issuance, which is why it appears across many chains and inside DeFi protocols rather than only on an issuer platform. Yield accrues whether the token is idle, staked, lent or pledged.
Payment stablecoins such as USDC and USDG hold similar reserves but keep the yield with the issuer and target a fixed one dollar price. USDY passes the yield to the holder and lets the price drift upward, making it an investment product with different tax and accounting treatment. Against protocol stablecoins such as USDS, its backing is off-chain and verified by attestation. Against Ethena's USDe, the yield source is Treasury interest rather than a hedged derivatives position.
Protection is legal and operational rather than cryptographic. The issuing entity is structured to be bankruptcy-remote so collateral is separated from Ondo's operating business. Assets are held in segregated custody, the portfolio is overcollateralized, and an independent party attests to holdings on a published schedule.
USDY is one of the clearest demonstrations that a regulated real-world yield instrument can circulate freely on public blockchains rather than sitting in a closed platform.
Eligible non-US investors can mint and redeem directly with Ondo, subject to onboarding and a stated minimum. Because the token is transferable, USDY also trades on decentralized exchanges across the chains where it is deployed, and some centralized venues support it.
USDY is a standard token on each supported network, so an EVM wallet covers Ethereum, Arbitrum and Mantle, while Solana, Sui and Aptos need their own wallets. Verify the contract address for your chain, and choose deliberately between USDY and rUSDY, since the accruing and rebasing versions behave differently inside other protocols.
Track Ondo US Dollar Yield live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for Ondo US Dollar Yield on CoinRithm before using real money.
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Read the complete paper trading guideThe current price of Ondo US Dollar Yield is $1.15 with a 0.00% change in the last 24 hours.
The daily trading volume is $587,034 representing a 88.00% change in the past 24 hours.
The market capitalization of Ondo US Dollar Yield is $2,197,424,313, ranking #38 globally.
The fully diluted valuation (FDV) of Ondo US Dollar Yield is $2,197,424,313, calculated assuming the total supply of 1,918,815,452 USDY is in circulation.
Circulating: 1,918,815,452. Total: 1,918,815,452. Max: N/A.
In the last 24 hours, Ondo US Dollar Yield traded between a low of $1.14 and a high of $1.15.
USDY/USDTTether USDT1.15 USDT
CeDeFi trading platform Grvt has partnered with Ondo Finance to build a position of up to $100 million in the tokenization firm’s yield-bearing USDY product over the next 12 months. According to Grvt, USDY will be integrated into Grvt Earn,…
USDY is a tokenized secured note backed primarily by short-term U.S. Treasurys, Treasury-based ETF shares, and bank deposits.
Yield-bearing stablecoin supply fell 15% in Q2 as sUSDe and sUSDS contracted, while Treasury-backed products including BUIDL, USYC and USDY continued to grow.
Solana’s real-world asset market has surged to $2.5 billion, with PRIME, BlackRock’s BUIDL, and Ondo’s USDY leading the growth, according to DefiLlama data.
USDY is now live on the Sei Network, enabling Ondo Finance to expand the stablecoin's accessibility and providing DeFi users with greater value.
Ondo Finance deploys tokenized U.S. Treasuries on Sei with instant DeFi integrations. Network sees record 1.2M daily active addresses ahead of v6.3 upgrade. (Read More)
