USDP Stablecoin (USDP) is a crypto-backed US dollar stablecoin. It has about $2.6M in circulation, ranking #178 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
USDP price
$0.9991
On peg Circulating supply
$2.6M
30-day change
0.0%
Price
$0.9991
Blockchains
3
Tracked since
Dec 2020
What is USDP?
USDP Stablecoin (USDP) is a crypto-backed US dollar stablecoin. It has about $2.6M in circulation, ranking #178 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
In the issuer's words: USDP is a decentralized, unbiased, and fully-backed stablecoin whose value is soft-pegged to US Dollar. USDP runs on the Ethereum, BSC, and Fantom networks.
USDP supply history
$2.7M$2.5M
Oct 8, 2025Oct 8, 2026
$254M$0
Dec 31, 2020Oct 8, 2026
USDP supply was flat over the past 30 days. Its peak was $280M in June 2021, and supply is 99% below that high.
Is USDP holding its peg?
Last price
$0.9991
Target
1.0000 USD
Status
On pegUSDP is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDP lives: supply by blockchain
Supply is concentrated: Ethereum holds 97% of all USDP. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDP is backed
USDP 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: Using the Unit Protocol app, users mint USDP by depositing an accepted collateral asset into a vault. When the loan is repaid to retrieve the collateral, the paid back USDP is burned.
USDP risks
Collateral and liquidations
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Smart contracts and oracles
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Small and thinly traded
With $2.6M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Bridged versions
Copies of a stablecoin moved by third-party bridges depend on those bridges. Prefer the issuer's native contract on each chain.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDP vs USDT and USDC
Similar crypto-backed stablecoins
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USDP in the news
Binance sets September 11 delistings for margin and spot pairs
USDP FAQ
What is USDP?
USDP Stablecoin (USDP) is a crypto-backed US dollar stablecoin. It has about $2.6M in circulation, ranking #178 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
Is USDP pegged 1:1 to the US dollar?
USDP 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 USDP?
USDP is a crypto-backed stablecoin. USDP 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 USDP on?
USDP is live on 3 blockchains. The largest by supply are Ethereum ($2.6M), Gnosis ($74K), BSC ($10K).
How much USDP is in circulation?
About $2.6M of USDP was in circulation at the last update, 0.0% over 30 days. That makes it the #178 stablecoin by supply among those we track.
Is USDP safe?
No stablecoin is risk-free. As a crypto-backed design, USDP'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 "on peg" on our peg monitor. This page is information, not investment advice.