DeFiBullishBlockonomi · 2h ago7/10
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Inside Ondo Finance: How OUSG and USDY Tokenize US Treasuries Through Distinct Legal Frameworks
Ondo Finance operates two distinct tokenized US Treasury products—OUSG and USDY—each structured under different legal frameworks to serve different investor bases. OUSG functions as a Delaware limited partnership accessing treasuries via BlackRock's BUIDL fund and targets qualified purchasers, while USDY establishes holders as secured creditors of a special purpose vehicle and targets non-US investors under Regulation S. Both products maintain regulatory compliance through audits and FinCEN registration.