CFX MoveUSD (MOVEUSD) is a fiat-backed US dollar stablecoin. It has about $125M in circulation, ranking #46 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is MOVEUSD?
CFX MoveUSD (MOVEUSD) is a fiat-backed US dollar stablecoin. It has about $125M in circulation, ranking #46 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: MoveUSD is a USD-backed stablecoin issued by CFX Labs on Solana.
MOVEUSD supply history
MOVEUSD supply grew 8.7% over the past 30 days, to $125M. It is at or near its all-time high.
Is MOVEUSD holding its peg?
MOVEUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where MOVEUSD lives: supply by blockchain
Supply is concentrated: Solana holds 100% of all MOVEUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How MOVEUSD is backed
Each MOVEUSD 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: CFX-issued digital assets are redeemable 1:1 for U.S. dollars.
MOVEUSD 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.
MOVEUSD vs USDT and USDC
Similar fiat-backed stablecoins
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MOVEUSD FAQ
What is MOVEUSD?
CFX MoveUSD (MOVEUSD) is a fiat-backed US dollar stablecoin. It has about $125M in circulation, ranking #46 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is MOVEUSD pegged 1:1 to the US dollar?
MOVEUSD 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 MOVEUSD?
MOVEUSD is a fiat-backed stablecoin. Each MOVEUSD 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 MOVEUSD on?
MOVEUSD is live on 1 blockchain. The largest by supply are Solana ($125M).
How much MOVEUSD is in circulation?
About $125M of MOVEUSD was in circulation at the last update, +8.7% over 30 days. That makes it the #46 stablecoin by supply among those we track.
Is MOVEUSD safe?
No stablecoin is risk-free. As a fiat-backed design, MOVEUSD'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.