Telcoin eUSD (eUSD) is a fiat-backed US dollar stablecoin. It has about $10.0M in circulation, ranking #132 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
What is eUSD?
Telcoin eUSD (eUSD) is a fiat-backed US dollar stablecoin. It has about $10.0M in circulation, ranking #132 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
In the issuer's words: eUSD is a fiat-backed stablecoin issued by Telcoin Bank, the first US bank-issued stablecoin, pegged 1:1 to the US Dollar and fully backed by cash and cash-equivalent reserves.
eUSD supply history
eUSD supply fell 0.3% over the past 30 days, to $10.0M. It is at or near its all-time high.
Is eUSD holding its peg?
eUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where eUSD lives: supply by blockchain
eUSD is spread across several networks. The largest, Polygon, holds 30% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How eUSD is backed
Each eUSD 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: eUSD is minted when users deposit USD with Telcoin Bank and can be redeemed 1:1 for the USD held in its reserves.
eUSD 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.
With $10.0M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
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.
eUSD vs USDT and USDC
Similar fiat-backed stablecoins
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eUSD FAQ
What is eUSD?
Telcoin eUSD (eUSD) is a fiat-backed US dollar stablecoin. It has about $10.0M in circulation, ranking #132 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
Is eUSD pegged 1:1 to the US dollar?
eUSD targets 1 USD. At the last update it traded at $0.9990, a deviation of -0.10%, which we classify as "on peg".
What backs eUSD?
eUSD is a fiat-backed stablecoin. Each eUSD 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 eUSD on?
eUSD is live on 4 blockchains. The largest by supply are Polygon ($3.0M), Solana ($3.0M), Ethereum ($2.0M).
How much eUSD is in circulation?
About $10.0M of eUSD was in circulation at the last update, -0.3% over 30 days. That makes it the #132 stablecoin by supply among those we track.
Is eUSD safe?
No stablecoin is risk-free. As a fiat-backed design, eUSD'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. Its supply is small, so liquidity can be thin. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.