Foundation News
Author
Dana Bernard
Publishing date
The Stellar Development Foundation is excited to welcome Ondo Finance and its yield-bearing stablecoin, the United States Dollar Yield (USDY), to the Stellar network.
USDY, Ondo’s “yieldcoin” product backed by high-quality short-term U.S. Treasuries and bank demand deposits, will launch on Stellar in the coming months. This addition will further expand the breadth of real-world assets being used for a variety of payment, remittance, and onchain financial applications.
Ondo joins industry leaders such as Circle, Paxos, Franklin Templeton, and WisdomTree Prime as world-class digital asset issuers who are using the powerful, built-in features and controls of Stellar to tokenize real-world assets. The Stellar network boasts a global ecosystem of interoperable wallets, exchanges, fintechs, and banking partners that will enable USDY to achieve global distribution across 180 countries worldwide.
Leveraging the speed, affordability, and global network of on and off-ramps of Stellar, Ondo’s USDY will provide non-U.S. individuals and institutions with an easily accessible, compliant, yield-bearing stablecoin that can be used in a variety of financial use cases, including:
NOTE: USDY is not, and may not be, offered, sold, or otherwise made available in the US or to US persons. USDY has not been registered under the US Securities Act of 1933, as amended ("Act") or pursuant to securities laws of any other jurisdiction, and may not be offered, sold or otherwise transferred in the US or to US persons unless registered under the Act or an exemption or exclusion from the registration requirements thereof is available. Additional restrictions may apply.
Ondo USDY LLC, the issuer of USDY, is not registered as an investment company under the US Investment Company Act of 1940, as amended. Nothing herein constitutes any offer to sell, or any solicitation of an offer to buy, USDY. Acquiring USDY involves risks. A USDY holder may incur losses, including total loss of their purchase price. Past performance is not an indication of future results.
Ondo does not endorse, Ondo does not make any representation or warranty whatsoever (express or implied, including but not limited to any warranty of merchantability, fitness for a particular purpose or non-infringement) regarding, and ONDO SHALL NOT HAVE ANY LIABILITY WHATSOEVER WITH RESPECT TO ANYONE'S USE OF, any third-party products, services or technologies referenced herein. Additional terms apply. Visit http://ondo.finance/usdy for details.