Ondo Finance to Cease USDY Minting on Aptos and Noble Starting September 8

Source: PANews2026/09/05 08:11

Analysis

Ondo Finance's decision to halt USDY minting on Aptos and Noble marks a strategic consolidation of its yield-bearing stablecoin infrastructure, narrowing the number of networks where new supply can be created. The move carries a notable transmission effect: because Osmosis and Mantra hold USDY bridged from Noble via IBC, holders on those chains are indirectly affected even though they are not listed among the directly discontinued networks. The company emphasizes that USDY remains fully reserved and that all affected holders have defined exit routes, with larger holders given a multi-year window to redeem at net asset value while smaller holders rely on third-party liquidity over a 90-day period. Worth watching next are whether Ondo extends similar network reductions to other supported chains, how the Osmosis and Mantra communities respond to the indirect impact, and whether the redemption windows signal broader strategic shifts in Ondo's multi-chain distribution approach.

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PANews, September 5 – Ondo Finance announced in a post that starting September 8, it will cease minting USDY on the Aptos and Noble networks. USDY on other supported networks will not be affected. Since USDY on Osmosis and Mantra is bridged from Noble via IBC, related holders will also be impacted. USDY will remain fully reserved throughout this process, and all affected holders have a complete migration or exit path. Holders of 1,000 USDY or more can bridge to other supported networks or redeem directly at net asset value on Ondo, with a window until September 8, 2027. Holders with less than 1,000 USDY can exit via third-party open market liquidity, with a 90-day transition period until December 7, 2026. Holders on Osmosis and Mantra can first bridge back to Noble via IBC and then follow the above rules, or exit directly via third-party liquidity on Osmosis.

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