Which chain has the most USDY?

The live supply-by-chain figures on this page rank the chains by how much USDY sits on each. The split shifts as holders mint, redeem, and bridge, so the current measured figures — not a fixed number — are the accurate answer, and they're read live from onchain data.

How is USDY's supply measured across chains?

As decimals-normalized USD supply per chain, taken from the same authoritative by-chain rollup the token's instrument page uses. Multiple deployments on one chain are summed into that chain's total, and chains with no measured supply are shown as not measured rather than as zero, so the split reflects real measured supply.

Why is USDY on so many chains?

USDY was designed for multi-chain distribution, so holders can hold and use it across many ecosystems. That reach broadens where it can be used as collateral and traded, at the cost of more bridging and more venues to account for — which is exactly why the per-chain split is worth seeing.

Is USDY the same token on every chain?

Yes — it's issued as the same fund across its chains, and OnChain Benchmark aggregates supply and holder concentration across all of them for a single view. The per-chain split shows how that one token's supply is distributed, while its rating is measured across all chains together.

OCB Reference/Market

What chains is USDY on, and how much sits on each?

Ondo's yield-bearing Treasury token is one of the most multi-chain RWA tokens there is. Here is USDY's supply by chain, measured live — and why the spread is worth knowing.

OnChain Benchmark · Reference · figures update live

The short answer

USDY — Ondo Finance's yield-bearing token backed by short-term US Treasuries and bank deposits — is issued across many blockchains, more than most tokenized funds, and its supply is spread unevenly among them. The live breakdown below shows how much of USDY's measured supply sits on each chain, read from current onchain data and aggregated across every deployment. Where the supply lives matters: it shapes which chains carry USDY's redemption and collateral activity, and it's a signal of where the token's onchain use is actually concentrated — a cross-chain view no single-chain explorer can give you.

USDY was built to be multi-chain from the start, and it shows: the token is issued as the same fund across a wide set of blockchains, and the amount on each moves as holders mint, redeem, and bridge. So "what chains is USDY on" is really two questions — which chains, and, the more useful one, how much on each.

How is USDY's supply split across chains?

Here is USDY's measured supply by chain, read live. Each figure is decimals-normalized USD supply from the same onchain measurement the token's instrument page uses — so this split reconciles with the published fund figures rather than a separate estimate:

USDY supply by chainLive

Ethereum$1.16B53.1%

Stellar$528.64M24.1%

Sei$258.66M11.8%

Solana$180.04M8.2%

Mantle$28.64M1.3%

Sui$14.88M0.7%

Noble$14.14M0.6%

Arbitrum$3.64M0.2%

Measured supply by chain · read live

Why does the cross-chain split matter?

A token spread across many chains behaves differently from one concentrated on a single chain. The chains carrying the most USDY are where its redemption and collateral activity concentrate, and where its onchain liquidity is deepest. Broad multi-chain issuance also means more bridging and more venues to account for — a structural fact about the token that a per-chain explorer, looking at one deployment, will never show you.

How does this relate to USDY's rating?

The cross-chain distribution feeds the holder-concentration and supply picture that goes into USDY's quality rating. Concentration and supply are measured across all chains together, so the aggregate rating already accounts for the full multi-chain footprint; the per-chain split here is the "where" that sits underneath those numbers. For the wider view of which chains hold the most tokenized RWA overall, see which blockchain has the most tokenized RWA.

Questions & answers

What chains is USDY on?: USDY — Ondo Finance's yield-bearing token backed by short-term US Treasuries and bank deposits — is issued across many blockchains as the same fund, with its supply spread unevenly among them. The live per-chain breakdown on this page shows how much of USDY's measured supply sits on each chain, aggregated across every deployment and read from current onchain data.
Which chain has the most USDY?: The live supply-by-chain figures on this page rank the chains by how much USDY sits on each. The split shifts as holders mint, redeem, and bridge, so the current measured figures — not a fixed number — are the accurate answer, and they're read live from onchain data.
How is USDY's supply measured across chains?: As decimals-normalized USD supply per chain, taken from the same authoritative by-chain rollup the token's instrument page uses. Multiple deployments on one chain are summed into that chain's total, and chains with no measured supply are shown as not measured rather than as zero, so the split reflects real measured supply.
Why is USDY on so many chains?: USDY was designed for multi-chain distribution, so holders can hold and use it across many ecosystems. That reach broadens where it can be used as collateral and traded, at the cost of more bridging and more venues to account for — which is exactly why the per-chain split is worth seeing.
Is USDY the same token on every chain?: Yes — it's issued as the same fund across its chains, and OnChain Benchmark aggregates supply and holder concentration across all of them for a single view. The per-chain split shows how that one token's supply is distributed, while its rating is measured across all chains together.

Last reviewed Sep 5, 2026 · figures read live