Ondo US Dollar Yield

USDY tokens are issued by Ondo Global Markets (BVI) Limited, a British Virgin Islands company.

“USDY tokens are issued by Ondo Global Markets (BVI) Limited, a British Virgin Islands business company.”

USDY gives economic exposure to short-term US Treasuries but no right to hold or receive Treasuries.

“USDY tokens provide their holders with economic exposure to short-term US treasuries, but USDY tokens are not themselves US treasuries and do not provide their holders with rights to hold or receive any US treasuries.”

The issuer states it is not registered as an investment company in the US nor as an investment fund in the EEA.

“The issuer of USDY is not registered as an investment company under the US Investment Company Act of 1940, as amended, or as an Alternative Investment Fund or Undertaking for Collective Investment in Transferable Securities in the European Economic Area”

Ondo USDY LLC redeems in US dollars only by bank wire to non-US bank accounts.

“Note that to comply with applicable US laws and regulations, Ondo USDY LLC can only redeem USD via bank wire to non-US bank accounts.”

USDY is open to qualifying non-US individual and institutional investors.

“USDY is accessible to qualifying non-US individual and institutional investors and is designed to combine the accessibility of a stablecoin with high-quality, US dollar-denominated yield.”

Ondo does not charge fees for access to the Site; any fees associated with transactions conducted through Affiliate, Covered Entity or third-party interfaces are governed by the applicable Affiliate’s, Covered Entity’s or third-party’s terms.

“Ondo does not charge fees for access to the Site; any fees associated with transactions conducted through Affiliate, Covered Entity or third-party interfaces are governed by the applicable Affiliate’s, Covered Entity’s or third-party’s terms.”

Depending on when it was issued, USDY may be secured by short-term US Treasuries, shares of an iShares short Treasury ETF, or bank demand deposits.

“Depending on the issuance date, USDY may be secured by either short-term US Treasuries, shares of iShares Short Treasury Bond ETF, or bank demand deposits.”

Ondo states that USDY is over-collateralised and that third-party reserve attestations are published daily.

“USDY is over-collateralized with third-party reserve attestations published daily.”

After onboarding, investors can mint new USDY with USDC at any time.

“Once your onboarding is completed, you can mint USDY with USDC at any time.”