Ondo's USDY Surpasses BlackRock's BUIDL in Tokenized Treasury Market
Ondo's USDY has become the largest tokenized US treasury product, surpassing BlackRock's BUIDL in total value.
Ondo's USDY has become the largest tokenized US treasury product, surpassing BlackRock's BUIDL in total value. Ondo US Dollar Yield (USDY) is trading at ₹110 ($1.15). This is an original Token Times brief based on reporting by AMBCrypto, with live market data added, as of Tue, 27 Oct 2026 05:00:02 UTC.
This shift highlights the growing competition in tokenized treasury products and may indicate a changing landscape in institutional crypto adoption and yield strategies.
- Ondo's USDY now has a market cap of $2.38B, surpassing BUIDL's $2.18B.
- The development underscores the rising demand for tokenized US treasuries.
- Ondo's growth could influence institutional adoption of crypto-based yield products.
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- Ondo's USDY Surpasses BlackRock's BUIDL in Tokenized Treasury Market — this brief
Ondo's USDY has surpassed BlackRock's BUIDL to become the largest tokenized US treasury product, with a total value exceeding $2.37 billion. This development marks a significant shift in the competitive landscape of tokenized yield products.
According to on-chain data from DeFiLlama, BUIDL's circulating supply is $2.16 billion, which is lower than USDY's market cap of $2.38 billion. This discrepancy in market cap indicates a potential shift in investor preference towards Ondo's product.
The rise of Ondo's USDY comes amidst a relatively flat crypto market, with the total crypto market cap at $2.74 trillion and 
Bitcoin showing a modest 24-hour gain of 0.05%. The Fear & Greed index remains at 48, indicating a neutral market sentiment.
The development highlights the growing demand for tokenized US treasuries as investors seek crypto-based yield products. Ondo's success in this space could influence other institutional players to enter or expand their offerings in the tokenized treasury market.
Since this brief published about 1 hour ago, Ondo US Dollar Yield (USDY) has moved from ₹109.56$1.15 to ₹109.56$1.15 — +0.00%.
The chart plots USDY's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 USDY ≈ ₹119.02 (about $1.15), down 0.1% over 24 hours. The rupee itself trades about 8.6% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 27, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Ondo's USDY Surpasses BlackRock's BUIDL in Tokenized — questions & answers
What is the market cap of Ondo's USDY?
Ondo's USDY has a market cap of $2.38 billion.
How much is BlackRock's BUIDL market cap?
BlackRock's BUIDL has a market cap of $2.18 billion.
What does this development mean for the tokenized treasury market?
It suggests a potential shift in investor preference towards Ondo's product and could influence institutional adoption of tokenized yield strategies.
How much is 1 Ondo US Dollar Yield worth in rupee today?
About ₹119.02 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $1.15. The rupee price moves with both USDY's US-dollar price and the USDT/INR rate; use our Ondo US Dollar Yield in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from AMBCrypto. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.