USDY or OUSG — what is the difference between Ondo’s two Treasury tokens, and which one fits me?
USDY (Ondo Finance) yields ~3.69%, minimum ~$50 (secondary market), can be bought on a DEX without KYC. OUSG (Ondo Finance) yields ~3.56%, minimum $5,000.
Both come from Ondo Finance and both are backed by short-term US Treasuries. USDY is a yield-bearing note aimed at non-US individuals; OUSG is a fund token for qualified investors. The table shows what that means in practice.
How this list is made: computed from the live TokenBank dataset each time the page is built — 2 matching rows, each linked to its own page and source.
Figures from our live dataset · data as of 2026-10-18 · this answer as JSON · not investment advice
Side by side
| USDY | OUSG | |
|---|---|---|
| Where the yield comes from | Short-term US Treasuries + bank deposits | Institutional treasury / money-market funds |
| Risk (our label) | Very Low | Low |
| Custody | Self-custody | Self-custody |
| Liquidity | 24/7 on DEXs; direct redemption with KYC | Instant, 24/7 |
| KYC to mint with the issuer | KYC required | KYC required |
| KYC to buy on a market | No KYC | Not stated |
| KYC to redeem | Not stated | Not stated |
| Assets under management | $2.14B | $578M |
| Jurisdiction | USA (non-US persons only) | USA |
| How to buy | Buy on a DEX (Curve, Solana); direct mint requires KYC | Mint/redeem with Ondo (KYC) or buy on a DEX |
How to choose
Both hold short-term US Treasuries, so their yields track each other closely. For a non-US individual with a small amount, USDY’s low entry point and DEX availability are what matter; for a qualified investor who wants a fund structure, OUSG is the product built for that. Neither is offered to US persons, as Ondo states it.
More questions
Which one has the lowest minimum?
USDY (Ondo Finance), with minimum ~$50 (secondary market). The highest stated minimum here is OUSG, with minimum $5,000.
Which of them can I buy without KYC?
1 of 2 can be bought on a DEX without identity verification: USDY. For the rest, the source does not state the secondary-market gate.
Where does the yield come from?
USDY: Short-term US Treasuries + bank deposits. OUSG: Institutional treasury / money-market funds.
Which is the largest?
By size, USDY at $2.1B, followed by OUSG at $578M. Size is not safety, but a larger product usually means a deeper market to sell into.
How risky are they?
USDY: Very Low. OUSG: Low. The risk label is ours, in plain language, and is explained on each token page.
Are these yields fixed?
2 of 2 are variable: the rate moves with markets and is not guaranteed. The figures on this page were last checked on 2026-10-18.