Key Highlights
- USDY listed on MEXC - Major centralized exchange expands access to tokenized treasuries
- TVL reached $2.5B (per rwa.xyz, Feb 2026) - Protocol maintains #1 position in tokenized treasuries
- Multi-chain expansion - USDY now available across Ethereum, Solana, Sui, and Aptos
The MEXC Listing
February 8, 2026 — Ondo Finance announced the listing of USDY (US Dollar Yield) on MEXC, one of Asia's largest cryptocurrency exchanges. This strategic partnership significantly expands retail and institutional access to tokenized US Treasury yields.USDY offers holders exposure to short-term US Treasury yields without the complexity of traditional finance infrastructure. The token rebases daily to reflect accumulated interest, currently tracking roughly 4.5% APY based on underlying Treasury rates.
Protocol Growth
The MEXC listing comes as Ondo's total value locked surpasses $2.5 billion, a milestone that reflects growing institutional appetite for on-chain fixed income products. Key metrics include:
- USDY: ~$600M in circulation
- OUSG: ~$200M in institutional deposits
- Total protocol TVL: $2.5B+
Chainlink Integration
Earlier this week, Ondo also announced enhanced oracle integration with Chainlink, enabling more reliable price feeds for USDY across DeFi applications. This infrastructure upgrade supports the token's growing use as collateral in lending protocols.
Market Context
Ondo's growth reflects broader adoption of tokenized real-world assets. The total RWA market has grown to nearly $24 billion, with tokenized treasuries representing the fastest-growing segment.
BlackRock's BUIDL fund, which recently listed on Uniswap, has emerged as a major competitor, though Ondo maintains its lead through multi-chain distribution and retail accessibility.
What This Means
The MEXC listing is significant for several reasons:
- Accessibility - Retail users can now purchase USDY directly with fiat
- Liquidity - CEX listing provides deeper liquidity than DEX-only products
- Credibility - Exchange listings signal growing mainstream acceptance
For yield seekers, USDY remains one of the most accessible on-chain options for US Treasury exposure, now available across both centralized and decentralized venues.
Data: rwa.xyz, MEXC Announcements, Ondo Finance Dashboard
Risk Considerations: Exchange listings increase accessibility but also centralized custody risk during trading. USDY holders should verify redemption processes and understand underlying treasury exposure.