USDGvsUSDY
Global Dollar vs Ondo US Dollar Yield — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDG — Global Dollar
USDY — Ondo US Dollar Yield
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USDG supply moved +17.6% and USDY -0.9% — USDG grew faster. USDG held the tighter band: worst deviation 33 bps against 1422 bps.
Key differences
- USDG is roughly 1.6× larger than USDY by USD circulation value ($3.42B vs $2.14B).
- USDG ranks #7 while USDY ranks #11 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- Both are fiat-backed stablecoins, so the mechanism is not what separates them.
- Reserves differ — USDG holds cash reserves (paxos), USDY holds tokenized us treasuries (ondo).
- USDY is deployed on 15 chains — much broader coverage than USDG's 6.
- Primary chain differs — most USDG supply lives on X Layer, while most USDY supply is on Ethereum.
Full comparison table
| Metric | USDG | USDY |
|---|---|---|
| USD circulation value | $3.42B | $2.14B |
| Rank (by USD value) | #7 | #11 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash reserves (Paxos) | Tokenized US Treasuries (Ondo) |
| Chains deployed | 6 | 15 |
| Primary chain | X Layer | Ethereum |
| Issuer | Paxos Trust Company | Ondo Finance |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDG and USDY?
Both track USD, so they compete for the same use cases. USDG holds cash reserves (paxos); USDY holds tokenized us treasuries (ondo). USDG ranks #7 by USD value and USDY ranks #11.
Which is bigger, USDG or USDY?
USDG is larger, with $3.42B in circulation vs $2.14B for USDY. That's roughly 1.6× the size.
Is USDG safer than USDY?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. Both use a fiat-backed model, so the difference sits in the issuer and the reserves rather than the design. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDG and USDY?
Yes. USDG and USDY both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose USDG or USDY?
The right choice depends on your use case. Consider: which chain do you need? USDG is available on 6 chains and USDY on 15. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.