R25 rcUSD (rcUSD) is a fiat-backed US dollar stablecoin. It has about $18.3M in circulation, ranking #96 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is rcUSD?
R25 rcUSD (rcUSD) is a fiat-backed US dollar stablecoin. It has about $18.3M in circulation, ranking #96 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: rcUSD is a tokenized dollar on Sui issued by R25 Labs and designed to hold a value of one US dollar. R25 backs it with a diversified portfolio of tokenized money market funds and stablecoins.
rcUSD supply history
It is at or near its all-time high.
Is rcUSD holding its peg?
rcUSD is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where rcUSD lives: supply by blockchain
Supply is concentrated: Sui holds 100% of all rcUSD. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How rcUSD is backed
Each rcUSD 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: rcUSD is obtained and redeemed in the R25 app. R25's terms bar residents of the United States, China including Hong Kong, the Marshall Islands and sanctioned countries, and R25 does not publish fees or settlement times. Holders can stake rcUSD for rcUSDp, a receipt token that earns the portfolio yield plus chain incentives.
rcUSD 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 $18.3M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
rcUSD vs USDT and USDC
Similar fiat-backed stablecoins
See all →
rcUSD FAQ
What is rcUSD?
R25 rcUSD (rcUSD) is a fiat-backed US dollar stablecoin. It has about $18.3M in circulation, ranking #96 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is rcUSD pegged 1:1 to the US dollar?
rcUSD targets 1 USD. At the last update it traded at $0.9997, a deviation of -0.03%, which we classify as "on peg".
What backs rcUSD?
rcUSD is a fiat-backed stablecoin. Each rcUSD 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 rcUSD on?
rcUSD is live on 1 blockchain. The largest by supply are Sui ($18.3M).
How much rcUSD is in circulation?
About $18.3M of rcUSD was in circulation at the last update. That makes it the #96 stablecoin by supply among those we track.
Is rcUSD safe?
No stablecoin is risk-free. As a fiat-backed design, rcUSD'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.