Ondo US Dollar Yield (USDY)

The tokenized RWA market has grown into one of crypto’s largest infrastructure categories.

But beneath the growth sits a more important question:

Who owns distribution?

@BlackRock has become the dominant issuer of tokenized Treasury exposure.

@OndoFinance has become one of the largest distributors.

Both are growing rapidly.

Both sit at the center of the same market.

But they are solving different problems.

● BlackRock BUIDL

BUIDL Is Becoming Reserve Infrastructure

Key Data

➢ $2.42B AUM
➢ 9 supported chains
➢ $100M+ cumulative distributions
➢ Core reserve asset behind USDtb and OUSG
➢ Approximately 40% of assets remain on Ethereum

What’s Happening?

BUIDL has evolved far beyond a tokenized Treasury product.

The latest SEC filings point toward a broader objective: becoming reserve infrastructure for tokenized finance.

The proposed stablecoin reserve vehicle and tokenized money-market structures expand BUIDL’s role from a yield product into a foundational collateral layer.

That evolution is alread