USDY Reaches Major Milestone
February 7, 2026 — Ondo Finance's yield-bearing stablecoin USDY has crossed $600 million in total value locked, marking a significant milestone for the tokenized treasury sector.What's Driving Growth
The surge in USDY adoption reflects broader institutional interest in on-chain treasury exposure. USDY currently offers 5.2% APY backed by short-term US treasuries, with qualified purchasers able to mint directly with Ondo.
Market Context
The tokenized treasury sector has grown 340% year-over-year, with total TVL across all providers exceeding $3 billion. Ondo maintains its position as the market leader alongside BlackRock's BUIDL fund.
What This Means for Investors
For yield-seekers, USDY offers a compelling risk-adjusted return profile—US treasury backing with DeFi composability. The continued TVL growth suggests institutional confidence in the tokenized RWA model.
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According to Ondo Finance official dashboard and on-chain analytics from rwa.xyz.
Data: rwa.xyz, Ondo Finance Dashboard, Etherscan Token Analytics