Ondo’s USDY Leads Tokenized U.S. T-Bills with $98.9M Growth

Ondo Finance has solidified its position in the tokenized U.S. Treasury market by recording a $98.9 million increase in the on-chain market cap of its USDY product over the last 30 days. This growth significantly outpaces competitors, with Franklin Templeton’s sgBENJI and BENJI funds adding $14.1 million and $12.0 million respectively during the same period. The rapid expansion of USDY highlights a growing investor appetite for stable, yield-bearing tokenized assets within the digital asset ecosystem. By providing on-chain access to U.S. government debt, these products offer a bridge between traditional finance and blockchain-based investment strategies. The performance of these assets suggests that tokenized T-bills are becoming a preferred vehicle for investors seeking stability amidst broader cryptocurrency market volatility. As Ondo continues to lead this sector, the trend underscores a broader institutional and retail shift toward real-world asset tokenization. This development is critical for the RWA market as it demonstrates the scalability and demand for regulated, interest-bearing financial instruments on public blockchains.