Ondo Finance

Ondo Finance tokenizes real-world assets: USDY (a yield-bearing token backed by short-term US Treasuries and bank deposits), OUSG (a tokenized short-term Treasury fund for qualified investors) and Ondo Global Markets (tokenized US stocks and ETFs for non-US investors). Minting and redemption go through Ondo's KYC onboarding, while the tokens trade on DEXs and are used across DeFi.

Rating D: 21 restrictions: 19 countries + Feature Block, KYC / allowlist. RWA / tokenized treasuries · Ethereum, Mantle, Arbitrum, Polygon, BNB Chain.

Official app: app.ondo.finance. Frontend code: closed.

Restrictions

  • Geo Block: ToS only. Eligibility rules prohibit the listed jurisdictions; they are enforced at KYC onboarding. IP geo-blocking of the app was not verified.
  • Feature Block: yes. USDY: subscription, acquisition and redemption prohibited for persons in the listed jurisdictions and for US persons (Reg S). Ondo Global Markets: Reg S offering, not for US or Canadian persons. OUSG: US accredited investors and qualified purchasers only. Affected countries: Afghanistan, Belarus, Canada, Crimea and Sevastopol (UA), Donetsk region (DPR) (UA), Luhansk region (LPR) (UA), Kherson region (UA), Zaporizhzhia region (UA), Cuba, North Korea, Iran, Libya, Myanmar (Burma), Russia, Somalia, South Sudan, Sudan, Syria, United States.
  • Wallet screening: n/a.
  • VPN / Tor detection: n/a.
  • KYC / allowlist: yes. Mint and redeem only after KYC onboarding with Ondo; OUSG and Global Markets tokens are held through allowlisted wallets enforced on-chain. Where it runs: smart contract.
  • Terms of Service: docs.ondo.finance/general-access-products/usdy/eligibility, Last updated unknown. USDY prohibited jurisdictions: Afghanistan, Belarus, Canada, occupied regions of Ukraine (Crimea, Donetsk, Luhansk, Kherson, Zaporizhzhia, Sevastopol), Cuba, North Korea, Iran, Libya, Myanmar, Russia, Somalia, South Sudan, Sudan, Syria, United States.

Notes

Closed frontend. Minting and redemption are gated by Ondo's KYC and on-chain allowlists; secondary-market trading of the tokens on DEXs has no such gate.

Evidence

Checked 2026-10-10. All interfaces · Methodology