Ondo Finance to Discontinue Minting USDY on Aptos and Noble Blockchains
Ondo Finance, an institutional-grade tokenization platform, announced it will stop minting its yield-bearing stablecoin USDY on the Aptos and Noble blockchain networks effective September 8. The move does not impact USDY availability on other supported blockchains. Ondo currently holds over $2 billion in USDY deposits across multiple chains. Affected holders have migration options to exit their positions fully, including bridging tokens to another network or redeeming directly with the company at net asset value before September 8, 2027. Smaller holders can use third-party liquidity platforms like Hyperion and Osmosis during a 90-day transition period ending December 7, 2026. USDY on additional networks such as Osmosis and Mantra is also impacted due to bridging from Noble via IBC protocol. The decision reflects a strategic consolidation of network focus rather than continued expansion.
Topics: Aptos blockchain migration Noble Ondo Finance USDY