pathUSD is a fiat-backed US dollar stablecoin. It has about $71.5M in circulation, ranking #63 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is pathUSD?
pathUSD is a fiat-backed US dollar stablecoin. It has about $71.5M in circulation, ranking #63 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: PathUSD is the first native TIP-20 stablecoin on Tempo Mainnet, predeployed at genesis at 0x20c0000000000000000000000000000000000000. It anchors the chain's quote-token chain and is the default fee token for users that haven't configured one. PathUSD is the price-discovery anchor for Tempo's enshrined Stablecoin DEX (CLOB at 0xdec0000000000000000000000000000000000000) and the Fee AMM (precompile at 0xfeec000000000000000000000000000000000000).
pathUSD supply history
pathUSD supply grew 95.2% over the past 30 days, to $71.5M. It is at or near its all-time high.
Is pathUSD holding its peg?
pathUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where pathUSD lives: supply by blockchain
Supply is concentrated: Tempo holds 100% of all pathUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How pathUSD is backed
Each pathUSD 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: PathUSD is issued by Bridge (Stripe's regulated stablecoin issuer) and backed 1:1 by USD-denominated reserves. Per Tempo's protocol docs (https://docs.tempo.xyz/protocol/exchange/quote-tokens#pathusd), pathUSD is minted by depositing USDC.e on Tempo and redeemed back to USDC through Bridge. Reserves are managed under Bridge's GENIUS-ready framework — short-dated US Treasuries, overnight T-bill repos, money market funds and cash, custodied via BlackRock, Fidelity, and Superstate. On-chain: TIP-20 RBAC enforces ISSUER_ROLE; CoinMarketCap classifies pathUSD under its 'Asset-Backed Stablecoin' tag.
pathUSD 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.
pathUSD vs USDT and USDC
Similar fiat-backed stablecoins
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pathUSD FAQ
What is pathUSD?
pathUSD is a fiat-backed US dollar stablecoin. It has about $71.5M in circulation, ranking #63 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is pathUSD pegged 1:1 to the US dollar?
pathUSD targets 1 USD. At the last update it traded at $1.0023, a deviation of +0.23%, which we classify as "on peg".
What backs pathUSD?
pathUSD is a fiat-backed stablecoin. Each pathUSD 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 pathUSD on?
pathUSD is live on 1 blockchain. The largest by supply are Tempo ($71.3M).
How much pathUSD is in circulation?
About $71.5M of pathUSD was in circulation at the last update, +95.2% over 30 days. That makes it the #63 stablecoin by supply among those we track.
Is pathUSD safe?
No stablecoin is risk-free. As a fiat-backed design, pathUSD'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.