Is Ondo Short-Term U.S. Government Bond Fund halal?
Ondo Short-Term U.S. Government Bond Fund is a token that represents real-world assets. It is issued as a token on Ethereum.
Ondo Short-Term U.S. Government Bond Fund fails a hard rule of our screen on the Riba-free criterion (15 out of 100). Tagged as tokenised treasuries or yield-bearing stablecoins. The return comes from interest-bearing debt.
Shariah screen result
mean of the five criteria
Tagged as tokenised treasuries or yield-bearing stablecoins. The return comes from interest-bearing debt.
Mid-sized and actively traded (market value about $320 million).
Nothing in its public tags points to gambling-style mechanics.
Whether the backing is permissible depends on the specific assets.
Its purpose is not clear from public data.
How this was made: we scored the coin's public category tags and market size against the same five criteria and thresholds we use in our reviewed screen. Nobody has yet read its whitepaper or checked its revenue. This is a screening result, not a fatwa. Scholars may reach different views, so check with a qualified scholar before relying on it.