# How to Access Tokenised US Treasuries > Decentralized Finance Publication (decentralized-finance.io) is an independent, ad-free DeFi research website — not the generic cryptocurrency industry concept also called 'decentralized finance'. **Publisher:** Decentralized Finance Publication **Difficulty:** Intermediate · **Read time:** 14 min read ## Summary Tokenised Treasuries are regulated products, not permissionless stablecoins. Check eligibility on the issuer site (Ondo, Securitize/BUIDL and peers), complete KYC if required, then mint. Skip them if you wanted USDC or you cannot read a prospectus. ## Who should skip this? Skip tokenised Treasuries if you are not eligible under the issuer's KYC rules, you needed a permissionless stablecoin, or you cannot read a prospectus. OUSG is not USDC. Eligibility is the first gate, not the yield. - You wanted a permissionless $1 payment stablecoin - You cannot complete issuer KYC or you are in a blocked jurisdiction - You needed instant DeFi collateral with no redemption constraints ## Should you hold tokenised Treasuries? Only if you are eligible, you understand you are buying a regulated fund-like product on-chain, and you wanted government-bond yield rather than DeFi utilisation yield. This is not a permissionless mint. The yield tracks underlying T-bill or money-market rates minus fees — check the issuer, not this page, for today's number. Stay in USDC or a bank product if you need payments, instant DeFi collateral everywhere, or you cannot complete KYC. Tokenised Treasuries are for eligible holders who accept issuer, redemption, and smart-contract rails together. ## What are tokenised Treasuries and how do they work? A tokenised Treasury wraps short-term US government debt or a money-market fund in a blockchain token. Holders earn that underlying yield, subject to fees and eligibility. USDC is a payment stablecoin targeting one dollar. OUSG and BUIDL are not USDC. Leading names include Ondo (OUSG, USDY), BlackRock BUIDL via Securitize, and Superstate USTB. Integrations change. Confirm listings on the issuer and on any lending market before you assume Aave will take the token tomorrow. Official starting points: ondo.finance and the issuer's own docs (checked August 2026). ## How do you access Ondo or similar products? Eligibility, then KYC, then mint. Do not send USDC to a random 'RWA' farm that promises Treasury yield without an issuer name. ### Step 1: Read eligibility Open the issuer site. OUSG-style products often require qualified purchaser or regional restrictions. USDY may be broader. If your country is blocked, stop. ### Step 2: Complete verification KYC/AML is the product. There is no permissionless workaround that is still that fund. ### Step 3: Mint via the official flow Fund as the issuer specifies (USDC or wire). Receive the token in the whitelisted wallet. Yield accrues per the product terms — not as a farm emission. ### Step 4: Treat DeFi use as optional Some tokens have been listed as collateral on lending markets. Listings change. Verify the market and the redemption rules before you borrow against them. ## Ondo vs BUIDL vs USDC — which should you use? USDC when you need a dollar in DeFi today. BUIDL-style tokens when you are an eligible institution and you want the largest traditional manager's on-chain MMF. Ondo when you want a DeFi-native issuer with documented integrations — still KYC. Do not pick on a screenshot APY from a third-party dashboard. ## What are the hidden catches? Catch 1 — eligibility. Catch 2 — redemptions are not Uniswap exits. Catch 3 — yield moves with the Fed funds path, minus fees. Catch 4 — wrapping Treasuries in a token does not remove smart-contract risk. Catch 5 — 'RWA APY' farms that are not the issuer are a different, usually worse, risk class. ## When is this NOT the right tool? Skip tokenised Treasuries when you wanted USDC, when you cannot KYC, or when you needed same-block collateral with no prospectus. Those jobs are stablecoins, a bank, or Aave. - Blocked jurisdiction — do not try a wrapper farm instead - You wanted $1 payments — use USDC - You wanted DeFi utilisation yield — use Aave or sUSDS - You cannot read the product sheet — you are not the customer yet ## The verdict: should you mint a Treasury token? Yes, if you are eligible, you read the terms, and you wanted sovereign-bill yield on-chain rather than a stablecoin. Check the issuer the day you onboard. No, if you thought OUSG was USDC with extra yield. Who should skip it: anyone who needs permissionless dollars, and anyone who will not complete KYC. The stablecoin yield guide and the USDC glossary page are the previous tabs. ## FAQ **Q: Are tokenised Treasuries the same as stablecoins?** No. Stablecoins target a payment peg. Treasury tokens target underlying government-debt yield and sit behind eligibility rules. They can still use a token rail. **Q: Can anyone buy OUSG?** Usually not. Check ondo.finance for current purchaser categories and regions. USDY may differ. Eligibility is part of the product. **Q: Ondo vs BlackRock BUIDL?** BUIDL is a large institutional money-market token. Ondo is a DeFi-native issuer with its own products and integrations. Compare eligibility, fees, and redemptions — not brand heat. **Q: What yield should I assume?** Whatever the issuer publishes for that product, minus fees, which moves with short-term USD rates. This page does not freeze a 4–5% figure. Read the live factsheet. --- Canonical: https://decentralized-finance.io/learn/how-to-invest-tokenised-treasuries/ AI text endpoint: https://decentralized-finance.io/ai/guides/how-to-invest-tokenised-treasuries.txt