A 30-day market-cap comparison puts Ondo Finance’s USDY ahead of two Franklin Templeton products, with a $98.9 million increase greater than their combined rise.
Franklin Templeton’s two products accounted for $26.1 million in combined gains: $14.1 million for sgBENJI and $12 million for BENJI. The comparison ranks USDY first among the three tokenized U.S. Treasury products by market-cap growth.
The $98.9 million figure is a change in USDY’s market capitalization, not its total value. The note provides exposure to short-term U.S. government debt and bank deposits, and is not structured as a conventional dollar stablecoin.
Ondo’s Regulation S distribution is limited to non-U.S. individuals and institutions; U.S. persons cannot participate. Earlier EconoTimes coverage identified USDY among the Treasury-exposure tokens available for swaps through 1inch.
