ME News reports that on September 5 (UTC+8), Ondo Finance announced it will cease minting USDY on the Aptos and Noble networks starting September 8; USDY on other supported networks will remain unaffected. Since USDY on Osmosis and Mantra is bridged from Noble via IBC, holders on these networks will also be impacted. USDY will continue to be fully backed by reserves. Holders with 1,000 or more USDY can bridge their tokens to other supported networks or redeem directly with Ondo at net asset value, with the window open until September 8, 2027. (Source: ODAILY)
Ondo Finance to Halt USDY Minting on Aptos and Noble Networks Starting September 8
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Summary
On September 5 (UTC+8), Ondo Finance announced it will cease minting USDY on the Aptos and Noble networks effective September 8. This change affects only these two chains, while USDY on all other supported networks remains available. Holders with 1,000 or more USDY can bridge to other chains or redeem at net asset value through Ondo until September 8, 2027. On-chain data shows consistent demand for USDY across multiple networks.
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