Ondo's USDY goes live on BNB Chain with instant minting

Ondo's USDY goes live on BNB Chain with instant minting

Tue, August 4, 2026 at 11:30 PM GMT+3 2 min read

Ondo Finance has expanded its tokenized Treasury token to another major blockchain, bringing yield-backed dollar exposure to one of crypto's busiest networks.

The company announced on Aug. 4 that USDY, its U.S. Dollar Yield Token, is now live on BNB Chain. USDY is a token backed by short-term U.S. Treasuries and cash instruments that pays holders a yield, effectively a way to earn Treasury-like returns onchain.

Ondo Finance is a decentralized finance platform that builds tools to bring traditional financial assets, like government debt, onto public blockchains.

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Why BNB Chain matters for the launch

BNB Chain is one of the largest blockchain ecosystems in terms of user activity, with a deep network of decentralized exchanges, lending apps, and other DeFi apps that run without traditional intermediaries.

According to Ondo, putting USDY there natively means users on BNB Chain can access Treasury-backed yield directly, without first bridging the token over from another blockchain.

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At launch, Ondo says USDY is already accessible across several well-known crypto services, including 1inch, Ledger, Trust Wallet, CowSwap, Li.Fi, and LayerZero.

Instant minting arrives for the first time

The bigger technical change is speed. Ondo says this launch introduces instant minting and redemption for USDY for the first time, letting users create or cash out the token without the waiting periods that applied before.

The company frames that as making it easier to move in and out of positions efficiently across DeFi.

Ondo adds that the deployment includes a cross-chain bridge, so users can move USDY between BNB Chain and other networks where the token already lives.

The move continues USDY's expansion across multiple blockchains, a strategy Ondo describes as reinforcing the token's role as a building block for real-world assets in DeFi.

The company also points to newer use cases, including so-called AI agents, automated software that can carry out onchain transactions, as part of the audience it is targeting.

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This story was originally published by TheStreet on Aug 4, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.