rwa

Ondo Finance

Ondo Finance Inc.

Ondo Finance is among the largest issuers of tokenized US Treasury exposure with OUSG (institutional Reg D) and USDY (publicly-tradable for non-US users). Ondo Chain L1 launches in 2026 for institutional RWA settlement.

Official site Documentation Updated today
Scale
Updated 1d ago
TVL
$1.4B
24h volume
$14.0M
OUSG AUM
$780M
USDY supply
$620M
Company

Ondo Finance Inc.

Country
United States
HQ
New York
Founded
Apr 1, 2021
Structure
private
Key people
  • Nathan Allman CEO
Timeline

Timeline

  1. Aug 1, 2021
    Ondo Finance founded
  2. Jan 31, 2023
    OUSG launch
  3. Aug 23, 2023
    USDY launch
  4. Jun 10, 2025
    BlackRock BUIDL integration
  5. Mar 15, 2026
    Ondo Chain (L1) testnet
Funding and investors

Funding and investors

Total raised: $120.0M
Investors
Founders FundCoinbase VenturesPanteraBlockTowerBlackRock
Rounds
Apr 15, 2022 Series A $20.0M Founders Fund, Pantera
Sep 20, 2024 Series B $100.0M BlackRock
Products

Products

Own products
  • OUSG (tokenized short-term Treasuries, Reg D)
  • USDY (yield-bearing token for non-US)
  • Ondo Chain (L1, 2026)
  • Flux Finance (Compound fork)
Integrations
  • BlackRock BUIDL
  • Coinbase International
  • Solana ecosystem
Stablecoins and chains

Stablecoins and chains

Chains
ethereum solana polygon arbitrum
Security and audits

Security and audits

Audits
  • Code4rena Aug 15, 2024 USDY token + Ondo bridge
  • Spearbit Dec 10, 2023 OUSG smart contracts
Risk notes

Risk notes

  • ● Issuer-domiciled regulatory dependency (US Reg D)
  • ● Custodian counterparty risk
  • ● Reg D investor verification limits retail access
Competitors

Competitors

BlackRock BUIDLFranklin Templeton BENJIHashnote USYC
Resources

Resources

Notes

For deeper context on Ondo Finance’s role in stablecoin commerce, see the blog and the stablecoins index.