How to buy Treasury RWA: BUIDL, USDY and ONDO — differences and thresholds (2026)
The biggest mistake when buying US Treasuries with crypto is treating a protocol token like ONDO as Treasury yield. The products that actually earn interest are Treasury tokens such as USDY, BUIDL and BENJI: BUIDL is issued by BlackRock with a $5 million-level threshold, so retail investors basically cannot buy it directly; for eligible non-US users, USDY is a relatively accessible yield product (about 3.60% APY). This article explains the differences, thresholds and who each product suits.