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Ondo Finance

Ondo Finance Inc.

United States

Financial Assets

Fixed Income

Money Market Funds

Treasuries

Overview

Issuer DescriptionOndo Finance, founded in 2021, is focused on providing access to institutional-grade financial products and services. The company improves financial infrastructure and expands access to investment opportunities for a wider audience. Ondo Finance operates through two divisions: an asset management arm that designs and manages tokenized financial products, and a technology arm that develops Decentralized Finance (DeFi) protocols. The company offers USDY, a tokenized note backed by short-term US Treasuries and bank demand deposits, targeting non-US persons. USDY aims to bring institutional-grade, low-risk yield to the global on-chain economy. In addition to USDY, Ondo Finance has launched OUSG, which provides tokenized exposure to short-term Treasuries and represents participation rights in a fund that holds Treasuries and money market funds. This product is available to qualified purchasers globally, offering an opportunity to invest in a diversified portfolio. Ondo is backed by prominent investors like Pantera, Coinbase, Founders Fund, and Tiger Global and works with regulated service providers for asset custody and auditing. Their funds invest in multi-billion dollar, highly liquid, exchange-traded funds managed by leading bond managers like BlackRock and Pimco. The company also has developed Flux Finance, a decentralized lending protocol designed to support permissioned tokens.

Personnel11-50

Year of Incorporation2021

Development StageEarly Stage

Legal TypeRegular Corporation

Website

https://ondo.finance/

White Paper

https://docs.ondo.finance/

Terms & Conditions

https://docs.ondo.finance/legal/terms-of-service

https://docs.ondo.finance/legal/privacy-policy

Blockchain Ecosystems

support@ondo.finance

Phone+1 302-265-0043

Legality & Financial Audit

Legal EntityOndo Finance Inc.

Registration Number1957431

Issuer IndustryPayment Services & Infrastructure

LEIN/A

Audit

Finances Auditor-

Finances Audit Date-

Additional Comment-

Regulatory Compliance

National Regulation

Asset Regulation

Yes

Token Regulation

Yes

Additional CommentUSDY is issued by Ondo USDY LLC, a Delaware LLC, and complies with U.S. regulations under Regulation S, exempting it from SEC registration, and is registered with FinCEN as a money services business. OUSG is issued by Ondo I LP, a Delaware limited partnership, and is exempt from SEC registration under Regulation D (Rule 506(c)), allowing sales to accredited investors. It also operates under Section 3(c)(7) of the Investment Company Act, exempting it from being classified as an investment company, provided it only offers shares to qualified purchasers.

Additional CommentThe underlying assets of USDY, primarily U.S. Treasuries, are regulated by the U.S. Securities Act of 1933 and overseen by the U.S. Securities and Exchange Commission (SEC). The primary underlying asset of OUSG, the BUIDL Fund, is regulated as a Professional Fund under the British Virgin Islands Securities and Investment Business Act (Revised 2020).

Additional CommentUSDY is issued under Regulation S of the U.S. Securities Act of 1933, which allows securities to be offered to non-U.S. persons outside the U.S. without requiring SEC registration. As a result, USDY is not directly regulated by the SEC but must comply with AML regulations under FinCEN. USG is issued under Regulation D (Rule 506(c)) of the U.S. Securities Act of 1933, allowing it to be sold to accredited investors in the U.S. without SEC registration. Although not directly regulated by the SEC, OUSG is subject to strict investor qualification, KYC, and AML compliance.

KYC/AML Information

KYC/AML Process

Yes

KYC/AML ProviderIn-house Service

Additional CommentOndo's Know Your Customer (KYC) process involves the collection of personal information and the verification of identity for individuals, which may include documents such as a passport or driver's license. Legal entities undergo a similar Know Your Business (KYB) process, which typically requires more time. Additionally, Ondo verifies that applicants are not listed on sanctions lists and are geographically eligible. The review process generally takes 3-4 business days, and applicants will receive notification of their status via email. For more detailed information about the process, please visit: https://docs.ondo.finance/general-access-products/usdy/faq/onboarding-and-kyc & https://docs.ondo.finance/qualified-access-products/onboarding-&-kyc.

Risk Metrics

Ongoing Monitoring And Risk Management

Transparency And Reporting

Disaster Recovery And Business Continuity

Continuous Management Training (Procedure Descriptions)

Additional Comment-

Location

Primary Location

CountryUSA

Stage / RegionNew York

Postal Code21427

CityNew York