Ondo Finance Reaches $3 Billion in Tokenized U.S. Treasury Assets

Ondo Finance’s tokenized U.S. Treasury assets reached $3 billion, ranking the platform first in the tokenized Treasury market by total assets.

The total includes USDY, OUSG and tokenized U.S. Treasury ETFs. USDY was valued at about $2.328 billion, above BlackRock’s BUIDL at about $2.204 billion.

OUSG held about $319 million. USYC was the largest single tokenized U.S. Treasury product at about $2.384 billion.

The broader tokenized U.S. Treasury market stood at about $14.91 billion. The category includes products designed to represent exposure to U.S. government debt through blockchain-based structures.

The figures place Ondo’s combined platform assets above the value of any individual product, while USDY was valued above BUIDL in the snapshot. USYC, USDY and BUIDL each exceeded $2 billion.

The latest market comparison follows an earlier report on tokenized Treasury funds. Tokenized U.S. Treasury funds previously reached $14.95 billion in distributed value, with USYC, USDY and BUIDL among the largest listed products.