Usual USD (USD0) is a fiat-backed US dollar stablecoin. It has about $542M in circulation, ranking #19 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is USD0?
Usual USD (USD0) is a fiat-backed US dollar stablecoin. It has about $542M in circulation, ranking #19 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: Usual enables an RWA-stablecoin that provides a high standard of security and transparency, while redistributing the generated value in the form of speculative yield in $USUAL, the Usual governance token.
USD0 supply history
USD0 supply fell 1.1% over the past 30 days, to $542M. Its peak was $1.86B in January 2025, and supply is 71% below that high.
Is USD0 holding its peg?
USD0 is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USD0 lives: supply by blockchain
Supply is concentrated: Ethereum holds 100% of all USD0. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USD0 is backed
Each USD0 is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Minting and redemption: Usual enables users to deposit either USYC or USDC as collateral to mint USD0. USD0 is backed 1:1 by collateral exclusively in the form of very short-term RWAs (Real-World Assets).
Reserve reports and audits: gitbook.usual.money
USD0 risks
Your claim is on the issuer and the banks or funds holding its reserves. A failure or freeze there can break the peg, as USDC briefly did in March 2023.
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USD0 vs USDT and USDC
Similar fiat-backed stablecoins
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USD0 FAQ
What is USD0?
Usual USD (USD0) is a fiat-backed US dollar stablecoin. It has about $542M in circulation, ranking #19 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USD0 pegged 1:1 to the US dollar?
USD0 targets 1 USD. At the last update it traded at $0.9983, a deviation of -0.17%, which we classify as "on peg".
What backs USD0?
USD0 is a fiat-backed stablecoin. Each USD0 is meant to be redeemable for one unit of its reference currency, backed by reserves such as bank deposits and short-term government debt held by the issuer or its custodians.
Which blockchains is USD0 on?
USD0 is live on 1 blockchain. The largest by supply are Ethereum ($543M).
How much USD0 is in circulation?
About $542M of USD0 was in circulation at the last update, -1.1% over 30 days. That makes it the #19 stablecoin by supply among those we track.
Is USD0 safe?
No stablecoin is risk-free. As a fiat-backed design, USD0's main risks are reliance on the issuer and its banks or custodians, how transparent the reserves are, the issuer's ability to freeze tokens, and regulatory action. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.