Overview
USDY is a yield-bearing stablecoin backed by short-term US Treasury notes and bank demand deposits, issued by Ondo Finance. Unlike traditional stablecoins, USDY accrues daily Treasury yield directly to the token holder — the token price increases daily as interest accumulates. Ondo Finance, backed by Peter Thiel's Founders Fund and others, is the leading RWA (Real World Asset) tokenization protocol by TVL, with USDY as its flagship retail product.
Who Created USDY?
USDY was created by Ondo Finance and launched in 2023. It is a RWA-Backed stablecoin designed to maintain a stable value pegged to the US dollar.
Key Features
- +Real Treasury backing — yield is from actual T-bills, not funding rates or algorithm
- +Daily yield accrual built into token price — passive income without staking or vaults
- +Multi-chain deployment across 6 networks gives DeFi composability
- +Bankruptcy-remote SPV structure means Ondo Finance insolvency does not affect USDY holdings
- +Regulated under US securities laws — provides legal clarity for institutional holders
- +Strong institutional backing (Founders Fund, Blackstone connections) and growing TradFi partnerships
Where to Use USDY
USDY is available on Ethereum, Solana, Sui and 3 other networks. You can use it on centralized exchanges for trading, in DeFi protocols for lending and borrowing, or as a stable store of value to park funds between trades.
Official website: https://ondo.finance/usdy