thestreet.com
Ondo Finance, a tokenization platform that brings institutional-grade financial products onchain, will stop minting $USDY on the Aptos and Noble blockchain networks effective Sep. 8, the company announced. The change does not affect $USDY on other supported networks.
$USDY is a yield-bearing token backed by short-term U.S. Treasuries, essentially a way for holders to earn a return from U.S. government debt without needing a traditional brokerage account. Ondo currently holds over $2 billion in $USDY deposits across multiple blockchain networks.
Migration paths for affected holders
Ondo said $USDY will remain fully backed throughout the process, and every affected holder will have a path to migrate or exit their position in full.
Holders with 1,000 $USDY or more can either bridge their tokens to another supported network or redeem directly with Ondo at net asset value. That window stays open until Sep. 8, 2027. Holders with less than 1,000 $USDY can exit through third-party liquidity during a 90-day transition period ending Dec. 7, 2026.
On Aptos, that liquidity is currently available through Hyperion, while Noble holders can access it through Osmosis, according to the announcement.
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$USDY on two additional networks, Osmosis and Mantra, is also affected because those tokens were bridged from Noble through IBC, a protocol that connects different blockchains, rather than minted natively. Holders on those networks can either bridge back to Noble and follow the same exit paths, or swap through available liquidity on Osmosis during the 90-day window.
Narrowing focus
Ondo did not state a reason for the move. The company said it remains focused on expanding $USDY's utility across the networks where tokenized assets can deliver the greatest value to users, builders and institutions.
The decision suggests Ondo is consolidating its network footprint rather than continuing to support every chain where $USDY was previously available.