USDO OpenEden OpenDollar Rank #660

OpenEden OpenDollar (USDO) is a yield-bearing, rebasing stablecoin issued by OpenEden Digital, a Bermuda Monetary Authority-licensed digital asset issuer. Operating within the Ethereum and Base ecosystems, USDO is categorized as a USD stablecoin and as a Real World Asset (RWA) token, reflecting its connection to traditional financial instruments. The token is designed to maintain a stable value pegged to the U.S. dollar while passing through yield generated from its underlying reserves. Those reserves primarily consist of short-dated U.S. Treasury bills and reverse repurchase agreements, instruments considered high-quality and liquid in conventional fixed-income markets. Through the rebasing mechanism, the token's supply adjusts so that each holder's balance reflects accrued yield over time, rather than requiring manual claim of rewards. By tokenizing exposure to U.S. Treasuries, USDO sits at the intersection of decentralized finance and traditional sovereign debt markets, offering on-chain users a way to hold a dollar-denominated asset whose backing is tied to regulated, real-world financial instruments. Its issuance under a BMA framework further positions it within an emerging category of compliant, real-world-asset-backed stablecoins.