How to Buy Ondo USDY: Eligibility, Yield and Where It Trades

USDY (Ondo US Dollar Yield) is a tokenized note issued by Ondo Finance and secured by short-term US Treasuries and bank deposits. It is one of the most widely held yield-bearing RWA tokens, available on many chains, and unlike most tokenized treasury products it is open to individual investors, as long as they’re outside the United States.

Who can buy it

• Non-US individuals and institutions can mint USDY directly from Ondo after KYC.
• US persons cannot. USDY is offered under rules for sales outside the US.
• After minting there is a waiting period before newly minted tokens can be transferred, which is part of the offering’s compliance setup.

How to get USDY

1. Mint from Ondo: complete onboarding on Ondo’s site, send USDC or a bank transfer, and receive USDY after the settlement and waiting period.
2. Buy on secondary markets: in some regions USDY trades on DEXs and exchanges. Holding it is still subject to Ondo’s eligibility terms.

How the yield works

USDY accrues interest into its price. If you buy at $1.10, the price might be $1.15 some months later, and the difference is your yield. A rebasing version, rUSDY, keeps the price at $1 and increases your token balance instead, which some DeFi apps find easier to handle.

USDY vs OUSG vs BUIDL

• USDY: tokenized note, non-US investors, open to individuals.
• OUSG: tokenized treasury fund for qualified investors, holds BUIDL and other funds.
• BUIDL: BlackRock’s fund for qualified institutional investors.

See USDY vs OUSG and BUIDL vs USDY for live side-by-sides. On this site, USDY’s value is counted inside Ondo Yield Assets so it isn’t double counted.

Risks

USDY is a note: you rely on Ondo’s structure and the collateral agent. Bank deposits in the collateral carry bank risk, and redemptions run through Ondo on its schedule. Read Ondo’s documents before buying. Nothing here is investment advice.