Ondo U.S. Dollar Token

USDON

Stablecoin, stable asset weightsMarket-cap rank 396, CoinGecko 23 Oct 2026

STRICT score withheld.Score opens with Pro

Sustainabilitywithheld×0.28–

Transparencywithheld×0.24–

Revenuewithheld×0.08–

Innovationwithheld×0.08–

Communitywithheld×0.12–

Tokenomicswithheld×0.20–

Weights are public.

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Research, not financial advice. Read the terms.

About Ondo U.S. Dollar Token

Analysis of 31 Jul 2026

Ondo U.S. Dollar Token, styled USDon and tracked as USDON, is the settlement stablecoin for Ondo Stocks, Ondo Global Markets’ platform for tokenized stocks and ETFs.

Full overviewShow less

Each USDon is described by Ondo as backed by a dollar of cash or cash equivalents in an Ondo Stocks brokerage account. The platform’s Peg Stability Module can convert USDC and USDon 1:1 for stock mints and redemptions, subject to available swapper liquidity and permissions.

USDon is a functional cash leg for that marketplace rather than a general-purpose yield stablecoin.

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