Information, not investment advice. Facts are copied from cited issuer and regulator documents with retrieval dates; anything we could not verify is marked unknown. Nothing here is a recommendation, ranking, or eligibility determination about you.
Tokenized Treasury / money market fund. Issuer: Ondo Global Markets (BVI) Limited (tokenization services by Ondo Finance Inc.). Official page. 20 fields verified, 6 unknown, 1 disputed.
As of 2026-10-25, who can invest for USDY: Non-US individuals, Non-US institutions, per Ondo.
As of 2026-10-25, we could not confirm this for USDY in an issuer or regulator document.
As of 2026-10-25, redemption timing for USDY: Daily, per Ondo.
As of 2026-10-25, we could not confirm this for USDY in an issuer or regulator document.
As of 2026-10-25, latest reserve / holdings report for USDY: https://ondo.finance/usdy, per Ondo.
| Field | Value | Status | Source | Note |
|---|---|---|---|---|
| Issuer | Ondo Global Markets (BVI) Limited (tokenization services by Ondo Finance Inc.) | conflict | Ondo, retrieved 2026-10-25 | Disputed. Ondo's USDY important notes say USDY is issued by Ondo Global Markets (BVI) Limited, a British Virgin Islands business company; the ondo.finance/usdy page shows 'Issuer Domicile: United States'. |
| Product type | Tokenized bearer note (debt issued by bankruptcy-remote entity), accumulating price; rebasing version rUSDY | verified | Ondo, retrieved 2026-10-25 | |
| Legal framework | Continuous Regulation S offering; issuer not registered under the Investment Company Act | verified | Ondo, retrieved 2026-10-25 | |
| Underlying holdings | Short-term US Treasuries, iShares 0-1yr Treasury ETF (tokenized SHVon) and bank demand deposits | verified | Ondo, retrieved 2026-10-25 | |
| Blockchains | Ethereum, Mantle, Solana, Sui, Aptos, Noble, Arbitrum, Stellar, Sei, Tempo, BNB Chain | verified | Ondo, retrieved 2026-10-25 | |
| Open to US persons (per issuer) | No | verified | Ondo, retrieved 2026-10-25 | US persons (Reg S Rule 902) prohibited from subscribing, acquiring or redeeming |
| Who can invest | Non-US individuals, Non-US institutions | verified | Ondo, retrieved 2026-10-25 | Qualified/professional investor status required in UK, EEA, Switzerland, Singapore, Hong Kong, Malaysia, Brazil |
| KYC required | Yes | verified | Ondo, retrieved 2026-10-25 | Buy directly after onboarding; may be traded peer-to-peer on-chain (freely transferable after holding period per issuer) |
| Excluded jurisdictions | Afghanistan, Belarus, Canada, Crimea/DNR/LNR/Kherson/Zaporizhzhia/Sevastopol, Cuba, North Korea, Iran, Libya, Myanmar, Russia, Somalia, South Sudan, Sudan, Syria, United States | verified | Ondo, retrieved 2026-10-25 | |
| Restricted jurisdictions | EEA: Professional client / qualified investor; UK: Professional client / qualified investor; Switzerland: Professional or institutional client; Singapore: Accredited or institutional investor; Hong Kong: Professional investor; Malaysia: Sophisticated investor; Brazil: Qualified or professional investor | verified | Ondo, retrieved 2026-10-25 | |
| Minimum initial investment | Unknown | unknown | Ondo pages reviewed state a $5,000 minimum only for minting on Sui/Aptos/Stellar/XRP/Noble and USD wires for $100K+; general web-app minimum not stated | |
| Other | $5,000 minimum to mint/redeem on Sui, Aptos, Stellar, XRP or Noble; USD bank wire subscriptions for $100K+ | verified | Ondo, retrieved 2026-10-25 | |
| Subscription timing | Daily (mint with USDC at any time after onboarding) | verified | Ondo, retrieved 2026-10-25 | |
| Subscription currency | USDC, USD (wire, $100K+) | verified | Ondo, retrieved 2026-10-25 | |
| Subscription / mint fee | Unknown | unknown | Not found in public issuer documents reviewed | |
| Redemption timing | Daily | verified | Ondo, retrieved 2026-10-25 | |
| Redemption currency | USDC (via Ondo Global Markets), USD by wire to non-US bank accounts only | verified | Ondo, retrieved 2026-10-25 | |
| Redemption settlement | Unknown | unknown | Not found in public issuer documents reviewed | |
| Redemption fee | Unknown | unknown | Not found in public issuer documents reviewed | |
| Redemption limits or gates | Only non-US persons may redeem; USD only to non-US bank accounts | verified | Ondo, retrieved 2026-10-25 | |
| Management fee / expense ratio | Unknown | unknown | No separate management fee stated on pages reviewed; token yield is set by issuer (issuer economics not disclosed on these pages) | |
| Transferability | Freely transferable (permissionless bearer token), subject to issuer terms | verified | Ondo, retrieved 2026-10-25 | |
| Assets (issuer-reported) | usdy_outstanding_usd: 2,060,000,000; underlying_assets_usd: 2,404,341,313; collateralization_ratio_pct: 153.73; as_of: 2026-10-22 | verified | Ondo, retrieved 2026-10-25 | Ondo 'Portfolio Overview' as of Oct 22, 2026 7:59pm EDT, figures as displayed. Note: underlying assets divided by USDY outstanding is about 116.7%, which does not match the displayed 153.73% ratio; Ondo does not explain the method on that page. |
| Reserve / holdings report type | Issuer-published portfolio overview (positions, WAM, YTM) on product page | verified | Ondo, retrieved 2026-10-25 | |
| Latest reserve / holdings report | https://ondo.finance/usdy | verified | Ondo, retrieved 2026-10-25 | |
| Report as-of date | 2026-10-22 | verified | Ondo, retrieved 2026-10-25 | |
| Third party attestation | Unknown | unknown | No independent attestation report link found on the pages reviewed |