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Record sog_st_usdy
USDY/Ondo US Dollar Yield
Also recorded as USDY, Ondo USDY, Ondo US Dollar Yield
- Lifecycle
- Active
- Issuance
- Restricted
- Reference target
- US dollar
- Primary organization
- Ondo Global Markets (BVI) LimitedNo additional recorded relationship
- Launch
- 2023-09-07
- Redemption
- Eligible Customers Only
- Backing
- Tokenized asset-backed
- Stabilization
- Fund-share valuation
- Last review
- 2026-06-19
- Evidence
- 4 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.Ondo tokenized secured note backed by short-term U.S. government assets and bank deposits, designed to provide dollar-denominated yield to eligible non-US investors.
| Name | Ondo US Dollar Yield |
|---|---|
| Symbol | USDY |
| Aliases | USDY, Ondo USDY, Ondo US Dollar Yield |
| Asset class | Stable Value Asset |
| Lifecycle status | Active |
| Issuance status | Restricted |
| Canonical record ID | sog_st_usdy |
| Route slug | usdy |
| Record confidence | High |
| Last reviewed | 2026-06-19 |
- Name
- Ondo US Dollar Yield
- Symbol
- USDY
- Aliases
- USDY, Ondo USDY, Ondo US Dollar Yield
- Asset class
- Stable Value Asset
- Lifecycle status
- Active
- Issuance status
- Restricted
- Canonical record ID
sog_st_usdy- Route slug
usdy- Record confidence
- High
- Last reviewed
- 2026-06-19
Record coverage
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 4 |
| Reserve reports | 1 |
| Reserve components | 3 |
| Model-history events | 1 |
| Regulatory notes | 0 |
| Deployments | 1 |
| Issuer-control actions | 0 |
| Open questions | 2 |
| Events | 2 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- Centralized
- Primary display organization
- Ondo Global Markets (BVI) Limited
- Primary display role
- Legal issuer
- Display selection mode
- Deterministic Policy
- Current relationships
- 1
- Ended relationships
- 0
- Unknown relationship state
- 0
- Freeze capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 1 not recorded
- Deployment control-event references
- 0
- Observed issuer-control events
- 0
- Relationship coverage
- 1 recorded relationship
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| Ondo Global Markets (BVI) Limited | Bank, trust, or credit institution | Regulated bank, trust, or credit institution | British Virgin Islands | Legal issuer | Primary display | 2025-12-15 | Not yet recorded | Active relationship |
Bank, trust, or credit institution
Primary displayOndo Global Markets (BVI) Limited
- Functional role
- Legal issuer
- Relationship status
- Active relationship
- Regulatory character
- Regulated bank, trust, or credit institution
- Jurisdiction
- British Virgin Islands
- From
- 2025-12-15
- Until
- Not recorded
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- Not yet recorded
- Reference methodology
- USDY has a dollar-denominated, yield-accreting redemption value rather than a fixed one-dollar token price.
- Public backing model
- Tokenized asset-backed
- Canonical backing types
- Government Securities, Bank Deposits, Tokenized Fund
- Reserve component categories
- Government Securities, Bank Deposits, Tokenized Fund
- Primary stabilization mechanism
- Fund-share valuation
- Recorded model description
- Tokenized Secured Note Backed By Short Term Us Government Assets and Bank Deposits
- Redemption / exit model
- Eligible Customers Only
- Valuation source
- Public information is incomplete
- Yield / rebase profile
- None recorded
- Classification notes
- Tokenized secured note, explicitly not classified by Ondo as a traditional stablecoin.
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- Short-term U.S. Treasury securitiesGovernment Securities · Applies to relevant USDY issuances; exact allocation is issuance-specific.
- Bank demand depositsBank Deposits · May form part of USDY backing depending on issuance.
- Shares of a short-duration U.S. Treasury bond ETFTokenized Fund · May form part of USDY backing depending on issuance.
| Disclosure status | Issuer Disclosures and Onchain Oracle |
|---|---|
| Backing types | Government Securities, Bank Deposits, Tokenized Fund |
| Summary | Depending on issuance date, USDY may be secured by short-term U.S. Treasuries, short-duration U.S. Treasury ETF shares, or bank demand deposits. |
| As of | 2026-06-15 |
| Profile confidence | High |
- Disclosure status
- Issuer Disclosures and Onchain Oracle
- Backing types
- Government Securities, Bank Deposits, Tokenized Fund
- Summary
- Depending on issuance date, USDY may be secured by short-term U.S. Treasuries, short-duration U.S. Treasury ETF shares, or bank demand deposits.
- As of
- 2026-06-15
- Profile confidence
- High
| Current status | Eligible Customers Only |
|---|---|
| Settlement asset | USD or supported settlement assets under the offering terms |
| Eligible parties | Qualifying onboarded non-US investors; professional or qualified-investor restrictions apply in some jurisdictions. |
| Retail access | Eligible Non Us Investors Only |
| Institutional access | Eligible Non Us Investors Only |
| Minimum amount | Offering, network, and route dependent. |
| Fee | Subscription, redemption, network, and offering-specific costs may apply. |
| Settlement time | Issuer process and network dependent. |
| Regional limits | Not available to US persons., Professional or qualified-investor requirements apply in certain jurisdictions. |
- Current status
- Eligible Customers Only
- Settlement asset
- USD or supported settlement assets under the offering terms
- Eligible parties
- Qualifying onboarded non-US investors; professional or qualified-investor restrictions apply in some jurisdictions.
- Retail access
- Eligible Non Us Investors Only
- Institutional access
- Eligible Non Us Investors Only
- Minimum amount
- Offering, network, and route dependent.
- Fee
- Subscription, redemption, network, and offering-specific costs may apply.
- Settlement time
- Issuer process and network dependent.
- Regional limits
- Not available to US persons., Professional or qualified-investor requirements apply in certain jurisdictions.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| Not yet recorded | Ondo Finance | Issuer Portfolio Disclosures | Government Securities, Bank Deposits, Tokenized Fund | High |
Ondo Finance
Not yet recorded- Type
- Issuer Portfolio Disclosures
- Assets covered
- Government Securities, Bank Deposits, Tokenized Fund
- Record confidence
- High
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ethereum | Specific network recorded | ERC-20 | Issuer- or institution-supported deployment | Issuer Native Tokenized Note | Active | Active | No separate change state recorded | Issuer-native deployment | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | Initial primary USDY deployment coverage; additional network and bridge deployments remain a open question. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
No regulatory notes have been added yet.
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| USDY basics Published Not yet recorded | Ondo Finance | Official documentation or product page Canonical: Official Documentation | Subject-controlled source | Primary source | Tokenized Note, Backing Assets, Issuer Transition, Yield Accrual, Entity Backing and Current Issuer | Archive index or wildcard | High |
| USDY comparison to stablecoins Published Not yet recorded | Ondo Finance | Official documentation or product page Canonical: Official Documentation | Subject-controlled source | Primary source | Not Traditional Stablecoin, Secured Note, Bankruptcy Remote Structure, Legal and Product Classification | Archive index or wildcard | High |
| USDY important notes Published Not yet recorded | Ondo Finance | Official documentation or product page Canonical: Official Documentation | Subject-controlled source | Primary source | Non Us Restrictions, Securities Law, Professional Investor Limits, Eligibility and Legal Restrictions | Archive index or wildcard | High |
| Introducing Ondo US Dollar Yield (USDY) Published 2023-09-07 | Ondo Finance | Official statement or announcement Canonical: Official Launch Announcement | Subject-controlled source | Primary source | Launch Date, Product Introduction, Official Product Introduction Date | Archive index or wildcard | High |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| Issuance Specific Collateral Mix | Official documentation states that USDY backing can differ by issuance date; the exact portfolio mix for every outstanding tranche is not normalized here. | Unknown after review | Medium | 2026-06-15 |
| Complete Network and Contract Map | USDY exists across multiple supported networks and bridge routes; every native, bridged, and legacy contract is not normalized in this batch. | Unknown after review | Medium | 2026-06-15 |
Issuance Specific Collateral Mix
Official documentation states that USDY backing can differ by issuance date; the exact portfolio mix for every outstanding tranche is not normalized here.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-15
Complete Network and Contract Map
USDY exists across multiple supported networks and bridge routes; every native, bridged, and legacy contract is not normalized in this batch.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-15
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| 2023-09-07 | Ondo introduces USDY | Launch and introduction | Launch | No lifecycle change | Not applicable |
| 2025-12-15 | USDY is folded into the Ondo Global Markets umbrella | Migration and rebrand | Issuer Transition | Remained active | Not applicable |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.- All stablecoinsCompare this record with the rest of the archive.
- Ondo Global Markets (BVI) LimitedBritish Virgin Islands
- Event registry2 connected events recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.