What is Ondo Short-Term US Government Bond Fund?

OUSG (Ondo Short-Term U.S. Government Bond Fund) is a tokenized fund issued by Ondo Finance. It provides direct exposure to a portfolio of short-term U.S. Treasury securities and government-sponsored enterprise (GSE) securities, managed to track the ICE Short U.S. Treasury Securities Index. While it is not a yield-bearing stablecoin, OUSG represents ownership in its underlying assets and offers 24/7 liquidity and redemption directly into stablecoins like USDC or PYUSD. The token's value is pegged to the net asset value (NAV) of the fund's holdings.