OUSG by Ondo Finance: status and timeline

Milestones

Next · Institution integrations on wealth platforms

OUSG launchJan 2023Complete.
Restructure to hold BUIDL as primaryDec 2024Complete.
Fidelity integrates OUSGQ1 2026Complete.
OUSG portion of $1.5B+ AUMJul 2026Complete.

Most important updates

Ondo restructures OUSG to hold BlackRock BUIDL as primary underlyingDec 2024
Ondo Finance launches OUSG, first tokenized Treasury for qualified investorsJan 2023

Upcoming

Q4 2026Institution integrations on wealth platforms (next)
2027SEC rules on tokenized Treasury products

Current obstacles

Rebasing confusionToken price appreciation confuses users expecting fixed-price tokens. Education critical.
Low liquidity on smaller chainsSolana, Aptos versions less liquid than Ethereum. Large trades incur slippage.
Regulatory risk on Rule 3(c)(7)Complex exemption. If regulators tighten, Ondo must restructure or restrict.

Physics limits

Fixed-income yield ceilingOUSG yields from Treasuries and repo, capped by short-term rates (~3.6%). Can't offer 5%+ without duration risk.
Large redemption delaysRedemptions through Securitize may take 1+ days if they exhaust the cash sleeve.

How it works

4 parts

Rule 3(c)(7)

Private fund for qualified investors

Limited to qualified purchasers ($5M+ in securities). Private exemption avoids SEC registration.

BUIDL backing

Primarily holds BlackRock BUIDL

OUSG holds BUIDL (3.6–3.68% APY) plus cash sleeve for same-day redemption liquidity.

Rebasing yield

Daily interest accrues into price

Token price grows with yield. 1 OUSG at 4% APY becomes ~1.04 OUSG after one year.

Multi-chain

Same token on 9 blockchains

Deployed on Ethereum, Solana, Aptos, Sui and others. Investors choose their preferred chain.

Spec sheet

Spec	OUSG
Combined OUSG + USDY AUM (mid-2026)	$1.5B+^R (reported)
Tokenized Treasury market share	35%^R (reported)
Minimum investment	$5M^R (reported)
Yield accrual frequency	Daily^R (reported)

^R reported by the company

Update log

2 updates

Dec 2024

Minor: Ondo restructures OUSG to hold BlackRock BUIDL as primary underlyingPressSoftware

Jan 2023

Major: Ondo Finance launches OUSG, first tokenized Treasury for qualified investorsPressHardware

About Ondo Finance

The team behind OUSG

Ondo Finance

Tokenized RWA, Treasury tokens, Ondo Chain

Founded 2021 by Goldman Sachs alumni. Led by CEO Ian De Bode since May 2026. OUSG and USDY Treasury tokens have $1.5B+ AUM and 35% tokenized Treasury market share. Ondo Chain: permissioned RWA settlement layer.

OUSG + USDY combined $1.5B+ AUM, 35% tokenized Treasury market share. OUSG holds BlackRock BUIDL as primary underlying.
Q1 2026: $13.26M revenue, $3.53B AUM. Integrations with Fidelity, PayPal, Mastercard, JPMorgan.
Ondo Chain permissioned validator network (Franklin Templeton, WisdomTree, Wellington, ABN AMRO, Google Cloud) for RWA settlement.

ondo.finance (opens ondo.finance)Company profile →

Founded: 20215 yrs
Headquarters: United States
Status: Private
Valuation: private
Raised: $284M4 rounds
Last round: Ondo Catalyst · $250MJul 2025
Works in: CryptoStablecoins & tokenization
Coverage: 3 programs · 5 updateslatest 1 Jul 2026checked 10 Oct
Lead investors: Pantera CapitalFounders Fund
Partners: FidelityPayPalMastercard
Investors: Pantera Capital
People: Ian De BodeCEOPinku SuranaCo-founder

Spec

OUSG

Combined OUSG + USDY AUM (mid-2026)

$1.5B+^R (reported)

Tokenized Treasury market share

35%^R (reported)

Minimum investment

$5M^R (reported)

Yield accrual frequency

Daily^R (reported)