USDY Goes Live on ICRYPEX

Ondo Finance is excited to share that Ondo US Dollar Yield (USDY), a tokenized note secured by short-term US Treasuries, is now live on ICRYPEX—a prominent digital asset platform. This debut introduces one of the most popular yieldcoins, by both the number of holders and total value locked (TVL), to ICRYPEX's users.

With over $680M in TVL across multiple blockchains, USDY currently offers a 4.29% APY, updated monthly, and enables global (non-US) individual and institutional investors to access the utility of stablecoins combined with an attractive yield and the institutional-grade investor protections of traditional finance.

This expansion allows ICRYPEX’s users to gain exposure to daily yield collateralized by US Treasuries, furthering Ondo Finance’s mission to make institutional-grade financial products and services available to everyone.

Katie Wheeler, VP of Partnerships at Ondo Finance, stated: “We’re thrilled to see ICRYPEX add support for USDY, providing a critical access point for both institutions and retail customers to acquire a truly global and composable yieldcoin.” 

Gökalp İçer CEO of ICRYPEX, added: “The addition of USDY to the ICRYPEX platform offers our users a unique opportunity to enjoy both stability and yield.”

Recap on USDY

USDY is the world’s first tokenized note secured by a bankruptcy-remote portfolio of US Treasuries. It is accessible to non-US individual and institutional investors and is designed to combine the accessibility of stablecoins with high-quality, US dollar-denominated yield. Key features include:

• Broadly Accessible: Tokenized loan that can trade globally in secondary markets to non-US investors
• Yield-Bearing: Accrues a variable interest rate, adjusted monthly by the issuer. Yield accrues in the form of a redemption value that increases over time
• Daily Liquidity: Non-US investors can both mint and redeem USDY on a daily basis
• High-Quality Collateral: Secured by a portfolio of short-term US Treasuries under control agreements
• Designed for Compliance: Issued under a continuous Reg S offering to offshore investors with best practices in KYC/AML/CFT procedures
• Bankruptcy-Remote: Assets designed to be ring-fenced from a hypothetical Ondo bankruptcy

About Ondo Finance

Ondo Finance is a blockchain technology company. Its mission is to accelerate the transition to an open economy by building the platforms, assets, and infrastructure that bring financial markets onchain.

About ICRYPEX

ICRYPEX is a prominent digital asset platform committed to making cryptocurrency trading accessible, secure, and efficient for users in Turkey and beyond. By providing a broad range of crypto services, including buying, selling, and managing digital assets, Icrypex continues to expand its ecosystem to meet the evolving needs of the market.