Ondo US Dollar Yield (USDY) price today
USDY is a tokenized note from Ondo that earns dollar interest: it is backed by short-term US Treasuries and bank deposits, and its price rises as yield accrues.
Ondo US Dollar Yield price now
Loading price…
- Price in US dollars (USD)
- —
- Price in Brazilian reais (BRL)
- —
- 24h change
- —
- 7-day change
- —
- 30-day change
- —
- 1-year change
- —
- Market capitalization
- —
- 24h volume
- —
- Market cap rank
- —
Market data source: CoinGecko, with a reference USD/BRL rate. Values can lag by a few minutes.
What is Ondo US Dollar Yield?
USDY was launched in 2023 by Ondo Finance. It looks like a stablecoin but is a tokenized debt instrument: the holder has a claim secured by short-term US government securities and bank deposits.
The product is intended for individuals and institutions outside the United States and requires identity verification for direct purchase from the issuer.
How Ondo US Dollar Yield works
The yield on the collateral assets is built into the token price. That is why USDY does not sit at 1 dollar: its reference value increases gradually. There is also a version that keeps the price at 1 dollar and adjusts the number of tokens.
The yield rate is variable and follows short-term US interest rates. After a direct purchase, there is a waiting period before the token can be transferred.
What USDY is used for
- Dollar reserve with government bond yield.
- Collateral in decentralized finance applications.
- Treasury management for companies and crypto projects.
Risks and points of attention
- It is not a stablecoin: the price changes with accrued yield and can trade at a discount in the secondary market.
- Access restrictions: direct purchase depends on verification and country eligibility.
- Risk of the issuer, the banks and the custodians of the securities.
- Yield falls when US interest rates fall.
Key facts
| Symbol | USDY |
|---|---|
| Asset type | Yield-bearing tokenized note |
| Launch | 2023 |
| Issuer or organization | Ondo USDY LLC (Ondo Finance) |
| Network | Multi-chain (Ethereum, Solana and others) |
| Maximum supply | No cap: issued against deposits |
Reference data checked on October 3, 2026 against CoinGecko and the project's official pages.
Official links
Frequently asked questions about Ondo US Dollar Yield
Is USDY a stablecoin?
Not exactly. It is a yield-bearing tokenized note backed by US Treasuries and deposits. Its price rises slowly instead of staying fixed at 1 dollar.
Where does USDY yield come from?
From the interest paid by the short-term government securities and bank deposits that serve as collateral, net of the issuer's fees.
Who can buy USDY?
Direct issuance requires identity verification and follows a list of eligible countries that excludes the United States and can change. Check current terms on Ondo's official website.
Where does the Ondo US Dollar Yield price on this page come from?
The panel shows the USDY price in US dollars and Brazilian reais, with change, volume and market capitalization. Data comes from CoinGecko, uses a reference exchange rate and can lag by a few minutes.