TechFlow News — Ondo Finance, an RWA platform, founder and CEO Nathan Allman announced on Twitter that Ondo Finance has officially launched USD Yield (USDY), a tokenized note backed by short-term U.S. Treasury securities and bank demand deposits.
U.S. users and institutions cannot use USDY. After purchase, it can be transferred on-chain after 40 to 50 days.
According to reports, USDY is a bearer instrument similar to stablecoins, offering holders a variable yield starting at an annual rate of 5%.
USDY is senior secured debt issued by Ondo USDY LLC. Both individuals and institutions can directly partner with Ondo to mint or redeem USDY daily without any accreditation requirements.
Add to Favorites
Share to Social Media
