Instruments · Tokenized Treasuries

Ondo US Dollar Yield

USDYTokenized TreasuriesVery Low

~3.75%

Yield / return

checked 9 Nov 2026

Yield-bearing dollar token backed by short-term US Treasuries and bank deposits; the yield accrues into the token price.

No KYC on secondary market · self-custody

Buy on a DEX (Curve, Solana); direct mint requires KYC

Who may buy is set by the issuer — check their terms.

Go to Ondo Finance ↗Trader view →

Minimum ~$50 (secondary market) · Self-custody · verify with the provider before acting

Where to buy USDY

Open in trader view →

USDY trades on 8 exchanges and DEXs. The largest by 24-hour volume:

Venue	Pair	24h volume	Spread
CEXGate ↗	USDY/USDT	$3.7M	0.02%
DEXOrca ↗	A1KLOB…ETO6/—	$164K	0.60%
DEXSaphyre V2 ↗	USDY/—	$163K	0.60%
CEXLBank ↗	USDY/USDT	$34K	0.05%
CEXBybit ↗	USDY/USDT	$2K	0.05%
DEXSaphyre ↗	USDY/FROG	$42	0.74%
CEXMomentum ↗	USDY/USDC	$2	8.12%
CEXOrca ↗	A1KLOB…ETO6/XSOCS1…DF2W	$2	0.68%

Source: CoinGecko, 2026-11-11 · listed by volume, not a recommendation · check that the venue serves your country

USDY contract addresses

Checked on chain: contract code is present and its symbol and decimals match the listing. Use the address on the chain you buy on, and compare it with the issuer’s own documentation.

Candidates: CoinGecko · read on chain 2026-10-21 · for agents: MCP get_purchase_steps · how agents buy

How to exit USDY

Redeeming with the issuer: KYC required. Anyone who cannot redeem exits by selling on the market.

Minimum: $5,000 on Sui, Aptos, Stellar, XRP and Noble; elsewhere a contract-configured USD minimum (amount not stated)
Fee: not stated
Settlement: instant on-chain to USDC via the USDY_InstantManager contract, subject to rate limits; USD only by wire to non-US bank accounts
Who may redeem: non-US persons registered with Ondo; prohibited jurisdictions excluded; in some jurisdictions (e.g. EEA, UK, Switzerland, Singapore) only professional or qualified investors
Selling instead: not stated

From issuer documentation · 2026-10-22 · exit costs compared

Key facts

Yield / return: ~3.75%
Risk: Very Low
Minimum: ~$50 (secondary market)
Liquidity: 24/7 on DEXs; direct redemption with KYC
Custody: Self-custody
KYC: Required to mint
Figures verified: 2026-11-09

Details

Issuer: Ondo Finance
Type: Tokenized Treasuries
Category: Tokenized Treasuries
Pillar: Fixed Income
Yield source: Short-term US Treasuries + bank deposits
Network: Ethereum / Solana (+10)
Jurisdiction: USA (non-US persons only)
AUM: $2.14B

Compare all providers by role →

Tokenized money market funds, compared →What kind of asset is this? All types explained →

What you actually own

Ondo Finance funds (OUSG, USDY) · Issuer-tokenized

A share in a regulated fund

Dividends: Not confirmed
Voting rights: Not confirmed
Corporate actions: Not confirmed
Redemption: Not confirmed
If the issuer fails: Not confirmed
Transfer: Not confirmed

Two different structures under one issuer name: OUSG is a fund for accredited investors who are also qualified purchasers; USDY is a Reg S note for non-US persons. Access is therefore stated per token.

checked 2026-09-18 · issuer-docs · source

Who it is aimed at

Target / Area

Who can buy — as the issuer states it

NoUS · Accredited investors
Non-US persons only.
checked 2026-09-18 · issuer-docs · source
NoUS · Retail investors
Non-US individuals and organisations only. — Regulation S
checked 2026-09-18 · issuer-docs · source

Quoted from the sources linked, on the date shown. Terms change; the issuer has the final word (issuer documentation).

Questions about USDY and Tokenized Treasuries

Buying USDY: common questions

How do I buy USDY?

Buy on a DEX (Curve, Solana); direct mint requires KYC. The token runs on Ethereum / Solana (+10). Minimum: ~$50 (secondary market).

Where can I buy USDY?

USDY trades on 8 exchanges and DEXs. By 24-hour volume the largest are Gate (USDY/USDT), Orca (A1KLOBRKBDE8TY9QTNQUTQ3C2ORTOC3U7TWGGZ7SETO6/?), Saphyre V2 (USDY/?), LBank (USDY/USDT), Bybit (USDY/USDT) (CoinGecko, 2026-11-11). Check that the venue serves your country before you sign up.

Do I need KYC to buy USDY?

Not on the secondary market: USDY can be bought on a DEX without identity verification. Minting it directly with the issuer does require KYC.

Who can buy USDY?

As Ondo Finance funds (OUSG, USDY) states it: US, accredited investors: no (Non-US persons only); US, retail investors: no (Non-US individuals and organisations only). The issuer has the final word; check its terms before buying.