pmUSD is a crypto-backed US dollar stablecoin. It has about $28.3M in circulation, ranking #95 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is pmUSD?
pmUSD is a crypto-backed US dollar stablecoin. It has about $28.3M in circulation, ranking #95 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: pmUSD is an overcollateralized stablecoin backed by tokenized precious metals (XAU).
pmUSD supply history
pmUSD supply was flat over the past 30 days. Its peak was $110M (face value) in March 2026, and token supply is 14% below that high.
Is pmUSD holding its peg?
pmUSD is trading more than 2% below its target, so treat it as depegged. Check the issuer's announcements and redemption status before acting.
Where pmUSD lives: supply by blockchain
Supply is concentrated: Ethereum holds 100% of all pmUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How pmUSD is backed
pmUSD 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: pmUSD is minted against the deposited XAU at a predefined collateral target ratio.
Reserve reports and audits: docs.raac.io
pmUSD 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.
With $28.3M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
At the last update pmUSD traded at $0.5491 against a target of 1.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
pmUSD vs USDT and USDC
Similar crypto-backed stablecoins
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pmUSD FAQ
What is pmUSD?
pmUSD is a crypto-backed US dollar stablecoin. It has about $28.3M in circulation, ranking #95 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is pmUSD pegged 1:1 to the US dollar?
pmUSD targets 1 USD. At the last update it traded at $0.5491, a deviation of -45.09%, which we classify as "depegged".
What backs pmUSD?
pmUSD is a crypto-backed stablecoin. pmUSD 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 pmUSD on?
pmUSD is live on 1 blockchain. The largest by supply are Ethereum ($94.0M).
How much pmUSD is in circulation?
About $28.3M of pmUSD was in circulation at the last update, 0.0% over 30 days. That makes it the #95 stablecoin by supply among those we track.
Is pmUSD safe?
No stablecoin is risk-free. As a crypto-backed design, pmUSD'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. Its supply is small, so liquidity can be thin. It currently shows "depegged" on our peg monitor. This page is information, not investment advice.