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View ChartUSDon is a USD-pegged stablecoin created by Ondo Finance to serve as the dedicated settlement asset for its platform of tokenized stocks and ETFs. It is issued by Ondo Finance via Ondo Global Markets.
USDon is a stablecoin backed 1:1 by U.S. dollars held in a brokerage account under the Ondo Global Markets arrangement. It serves as the dedicated settlement asset for buying and redeeming Ondo tokenized stocks and ETFs. USDon is deployed on Ethereum (ERC-20), BNB Chain (BEP-20), and Solana (SPL). As a Real-World Asset (RWA) token, USDon connects traditional finance (TradFi) with decentralized finance. USDon is listed on public markets and tracked by major aggregators, permitting trading pairs and liquidity provisioning across supported chains and exchanges.
USDon is a fiat-backed stablecoin designed for trading Ondo's tokenized securities.
| Item | Details |
|---|---|
| Name (Ticker) | U.S. Dollar Tokenized Currency (Ondo) (USDON) |
| Alternative Names | Ondo U.S. Dollar Token; also styled USDON and USD.ON |
| Consensus Mechanism | Not Applicable (Asset-Backed Token) |
| Smart Contracts | Yes (Ethereum, BNB Chain, Solana) |
| Category | Real-World Assets (RWA), Stablecoin |
| Hash Algorithm | Not applicable to the token itself; determined by the underlying blockchain |
| Block Reward | Not Applicable |
| Max Supply | Uncapped (Supply adjusts based on deposits/redemptions) |
| TPS | Dependent on the underlying blockchain (e.g., Ethereum, BNB Chain, Solana) |
| Scaling Solution | Determined by the underlying blockchain |
| Blockchain | Ethereum (ERC-20), BNB Chain (BEP-20), Solana (SPL) |
Ondo Finance, a financial technology company focused on tokenizing traditional assets and bringing cash-equivalent yield products on-chain, created USDON. Ondo Finance's core team includes professionals from major financial institutions such as Goldman Sachs and BlackRock. Their goal is to bring high-quality financial products on-chain. Ondo Finance manages the issuance, collateralization, and redemption processes for USDON. According to the issuer, USDon is backed 1:1 by U.S. dollars held in a brokerage account under the Ondo Global Markets arrangement; the RWA asset page lists Alpaca Securities as the broker and BitGo as a crypto custodian. Reserve attestations may require issuer disclosure for full external verification.
USDon operates through an asset-backed model. New USDon supply corresponds to fiat deposited into the custodian/brokerage arrangement under the issuer's model. On the platform, when a user sells a tokenized stock for USDC, the platform first redeems for USDon and then swaps that for USDC, all in one atomic transaction. This mechanism provides a stable digital asset for settling trades of tokenized securities on the blockchain.
USDon stands out by combining the utility of a blockchain token with a dedicated role in Ondo's tokenized securities platform. Its value proposition includes:
USDon serves multiple purposes for both individual and institutional users in the digital asset space:
The USDon ecosystem is expanding through multi-chain deployment. USDon is deployed on Ethereum, BNB Chain, and Solana. Ondo Finance is actively pursuing integrations with major lending protocols, decentralized exchanges (DEXs), and liquidity pools to increase USDon's utility. The broader trend of Real-World Asset (RWA) tokenization is a significant tailwind. Ondo Finance manages approximately $600M in tokenized assets, reflecting demand for tokenized real-world asset products. Ondo Finance also issues yield-bearing tokenized products such as USDY (U.S. Dollar Yield Token) and OUSG (Qualified-access U.S. Treasuries token). Future development focuses on expanding to more blockchains and creating structured products built atop the USDon foundation.
USDon is not a mineable cryptocurrency. It is a tokenized financial product that is minted through a deposit process with Ondo Finance. New USDon supply corresponds to fiat deposited into the custodian/brokerage arrangement under the issuer's model. The token is not generated through mining.
Securing your USDon involves standard practices for safeguarding tokens on the chain you use:
USDon is available through exchanges that support the token or through the Ondo platform. To acquire USDon, use a platform that lists the token and follow its standard onboarding and trading procedures.
Buy in just 4 steps (Register → Verify → Deposit/Purchase → Receive Coins)
Choose U.S. Dollar Tokenized Currency (Ondo) products that suit your trading style
Thank you for your interest in BTCC. Currently, spot and futures trading services for USDON are not supported. As a leading digital asset platform, BTCC is committed to providing a secure and stable trading environment. We recommend completing your account registration and identity verification (KYC) to explore other premium assets and exclusive benefits available on BTCC.
As of right now, the live price of U.S. Dollar Tokenized Currency (Ondo) (USDON) is $0.999436. Its market price fluctuates in real time based on overall supply and demand, and you can check the updated USDON to USD rate at the top of BTCC’s price page. In terms of market scope, U.S. Dollar Tokenized Currency (Ondo) records a 24h trading volume of $45.004285M (reflecting total buying and selling activity over the last 24 hours), with a total market cap of $86.165402M. Its current circulating supply stands at 86.22M out of a maximum supply cap of ∞.
The price volatility of U.S. Dollar Tokenized Currency (Ondo) (USDON) is essentially driven by market supply and demand dynamics. Key factors behind its price movements include: 1) Global macroeconomic conditions and sentiment, such as Fed interest rate decisions; 2) Tokenomics, including the ratio of circulating supply (86.22M) to max supply (∞), as well as token unlocks and burn mechanisms; 3) Fundamental developments, such as ecosystem expansion, on-chain activity, and core protocol upgrades; and 4) Derivatives market dynamics, including leverage battles and liquidation cascades in perpetual contracts.
Looking at its historical price performance, U.S. Dollar Tokenized Currency (Ondo) (USDON) hit an all-time high (ATH) of $1.037357 on 2025-09-23 12:30, representing the peak of market sentiment. Conversely, its all-time low (ATL) was recorded at $0.890797 on 2025-09-20 22:30. Note that historical highs and lows reflect past performance only and do not guarantee future price trends; investment decisions should always align with live market conditions and your personal risk tolerance.
When trading USDON futures on BTCC, technical chart analysis begins with identifying key support and resistance levels on 1D and 4H charts using historical price pivots. Next, apply MA/EMA indicators to gauge trend directions, alongside RSI (values above 70 indicate overbought conditions, while below 30 suggest oversold levels). Always validate breakout signals with the 24h trading volume ($45.004285M), as price breakouts accompanied by strong volume offer higher reliability.
Unlike spot trading where you can only profit from rising prices, BTCC’s USDONUSDT perpetual contracts support two-way trading. If you anticipate a price decline for U.S. Dollar Tokenized Currency (Ondo), simply log into your BTCC account with USDT margin available, navigate to the USDONUSDT pair, set your desired leverage and Take-Profit/Stop-Loss levels, and click "Sell/Short". Once the price drops to your target, close your position to lock in profit from the price difference.
Yes. BTCC offers flexible, high-tier leverage options for USDONUSDT perpetual futures, providing up to 500x leverage (maximum leverage limits may vary depending on liquidity). While leverage boosts capital efficiency by allowing you to control larger position sizes with less margin, it also amplifies liquidation risks proportionately. BTCC strongly advises using Stop-Loss orders to strictly manage risk when trading with high leverage.
Beginners and traders testing new strategies can switch to BTCC's "Demo Trading" mode with a single click on the App or Web interface. The demo account comes pre-loaded with risk-free virtual funds (such as 100,000 USDT). Powered by live market prices (current price: $0.999436), you can practice opening/closing positions, adjusting leverage, and setting TP/SL for USDONUSDT with zero financial risk.
Trading U.S. Dollar Tokenized Currency (Ondo) (USDON) on BTCC requires just 4 simple steps: 1) Register a BTCC account and complete basic Identity Verification (KYC); 2) Buy USDT using fiat via credit card/express payment, or deposit USDT/BTC directly from an external wallet; 3) Navigate to the Futures section, search for USDONUSDT, and review its live price ($0.999436) and chart; 4) Select your margin mode and leverage, choose "Buy/Long" or "Sell/Short" based on your market outlook, set TP/SL orders, and confirm your trade.
Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. The content expressed on this page is not intended to be and shall not be construed as an endorsement by BTCC regarding the reliability or accuracy of such content. You should carefully consider your investment experience, financial situation, investment objectives, and risk tolerance, and consult an independent financial adviser before making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BTCC is not responsible for any losses you may incur. For more information, please refer to our Terms of Use and Risk Warning. Please also note that data relating to the above-mentioned cryptocurrency presented here (such as its current live price) are based on third-party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links provided to third-party sites are also not under BTCC’s control. BTCC is not responsible for the reliability or accuracy of such third-party sites or their contents.
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