Multipli rwaUSDi (rwaUSDi) is a crypto-backed US dollar stablecoin. It has about $383M in circulation, ranking #25 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
What is rwaUSDi?
Multipli rwaUSDi (rwaUSDi) is a crypto-backed US dollar stablecoin. It has about $383M in circulation, ranking #25 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
In the issuer's words: rwaUSDi is an institutional credit-backed stablecoin designed to represent value backed by isolated real-world financing assets, including private credit, structured finance, commodities and other blue-chip real-world assets.
rwaUSDi supply history
rwaUSDi supply fell 21.3% over the past 30 days, to $383M. Its peak was $488M in August 2026, and supply is 22% below that high.
Is rwaUSDi holding its peg?
rwaUSDi is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where rwaUSDi lives: supply by blockchain
rwaUSDi is spread across several networks. The largest, Ethereum, holds 40% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How rwaUSDi is backed
rwaUSDi is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Minting and redemption: rwaUSDi is Multipli's institutional, permissioned credit layer. It is the counterpart to the composable rwaUSD, built for tokenized private-market and structured assets, and it prioritizes capital efficiency, risk isolation, and predictable, controlled borrowing over open composability.
Reserve reports and audits: docs.multipli.fi
rwaUSDi risks
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
rwaUSDi vs USDT and USDC
Similar crypto-backed stablecoins
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rwaUSDi FAQ
What is rwaUSDi?
Multipli rwaUSDi (rwaUSDi) is a crypto-backed US dollar stablecoin. It has about $383M in circulation, ranking #25 among the stablecoins CoinScoop tracks, and runs on 5 blockchains.
Is rwaUSDi pegged 1:1 to the US dollar?
rwaUSDi targets 1 USD. At the last update it traded at $0.9991, a deviation of -0.09%, which we classify as "on peg".
What backs rwaUSDi?
rwaUSDi is a crypto-backed stablecoin. rwaUSDi is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Which blockchains is rwaUSDi on?
rwaUSDi is live on 5 blockchains. The largest by supply are Ethereum ($152M), Base ($147M), Arbitrum ($77.3M).
How much rwaUSDi is in circulation?
About $383M of rwaUSDi was in circulation at the last update, -21.3% over 30 days. That makes it the #25 stablecoin by supply among those we track.
Is rwaUSDi safe?
No stablecoin is risk-free. As a crypto-backed design, rwaUSDi's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.