USDYvsUSDX
Ondo US Dollar Yield vs USDX Money USDX — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDY — Ondo US Dollar Yield
USDX — USDX Money USDX
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USDY supply moved +2.8% and USDX +0.0% — USDY grew faster. USDY held the tighter band: worst deviation 1462 bps against 9912 bps.
Key differences
- USDY is roughly 3.2× larger than USDX by USD circulation value ($2.21B vs $683.4M).
- USDY ranks #12 while USDX ranks #18 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- USDY is a fiat-backed stablecoin; USDX is crypto-backed. Different mechanism, different failure modes.
- USDY reports tokenized us treasuries (ondo) in reserve. We do not track a published reserve breakdown for USDX.
- USDY is deployed on 16 chains — much broader coverage than USDX's 3.
- Primary chain differs — most USDY supply lives on Ethereum, while most USDX supply is on BSC.
Full comparison table
| Metric | USDY | USDX |
|---|---|---|
| USD circulation value | $2.21B | $683.4M |
| Rank (by USD value) | #12 | #18 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Tokenized US Treasuries (Ondo) | — |
| Chains deployed | 16 | 3 |
| Primary chain | Ethereum | BSC |
| Issuer | Ondo Finance | — |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDY and USDX?
Both track USD, so they compete for the same use cases. USDY holds tokenized us treasuries (ondo). We track no published reserve breakdown for USDX. USDY ranks #12 by USD value and USDX ranks #18.
Which is bigger, USDY or USDX?
USDY is larger, with $2.21B in circulation vs $683.4M for USDX. That's roughly 3.2× the size.
Is USDY safer than USDX?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. USDY uses a fiat-backed model; USDX uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDY and USDX?
Yes. USDY and USDX 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 USDY or USDX?
The right choice depends on your use case. Consider: which chain do you need? USDY is available on 16 chains and USDX on 3. 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.