---
title: "Ondo OUSG (OUSG) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/ousg-ondo-finance/"
description: "Build-time stablecoin profile for Ondo OUSG (OUSG). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# Ondo OUSG (OUSG)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Ondo's tokenized U.S. T-Bill fund (mostly BlackRock BUIDL plus FedFund and a USDC buffer); NAV-accreting at >$114 per token, KYC-restricted to U.S. Qualified Purchasers, with instant T+0 mint and redeem via USDC. OUSG has grown past $700 million — 85% backed by BlackRock's BUIDL with 12% in BlackRock's FedFund and a 3% USDC liquidity buffer, making Ondo I LP BlackRock's largest single on-chain client and OUSG essentially a first-class derivative of BlackRock's tokenized {{term:money-market-fund}}money-market fund{{/term}} presence. At over $114 per token with NAV appreciating daily, it is the least dollar-like entry on any stablecoin dashboard, which is why Ondo maintains rOUSG — a rebasing sibling that stays at $1 while OUSG accumulates. The SEC investigation closure in November 2025 without charges removed the key regulatory overhang, and the instant T+0 mint/{{term:redemption}}redemption{{/term}} via OUSGInstantManager against USDC through BUIDL on-chain liquidity makes OUSG's exit infrastructure better than most tokenized funds. Restricted to U.S. Qualified Purchasers with on-chain KYC enforcement — tokens literally cannot transfer to non-whitelisted addresses — OUSG is less a stablecoin and more a tokenized {{term:treasury}}Treasury{{/term}} {{term:rwa}}RWA{{/term}} that borrowed the infrastructure.

## Collateral

Primarily BlackRock USD Institutional Digital Liquidity Fund (BUIDL), which holds short-term U.S. Treasury bills, cash, and repurchase agreements; secondary allocations to BlackRock FedFund (TFDXX) and USDC for liquidity; Ondo I LP is the largest single holder of BUIDL; migrated from iShares SHV ETF to BUIDL in March 2024

## Peg Mechanism

NAV-accreting fund share token (not pegged to $1); token price rises daily as Treasury income accrues; instant mint/redemption at daily NAV via OUSGInstantManager against USDC (T+0 settlement via BUIDL on-chain liquidity); token transfers restricted to KYC-verified whitelisted addresses on-chain

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | SEC | Reg D Rule 506(c); Section 3(c)(7) exemption; restricted to U.S. Qualified Purchasers |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x1b19c19393e2d034d8ff31ff34c81252fcbbee92` | 18 |
| polygon | `0xba11c5effa33c4d6f8f593cfa394241cfe925811` | 18 |
| solana | `i7u4r16TcsJTgq1kAG8opmVZyVnAKBwLKu6ZPMwzxNc` | 6 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/ousg-ondo-finance.