USBD is a crypto-backed US dollar stablecoin. It has about $7.5M in circulation, ranking #143 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
What is USBD?
USBD is a crypto-backed US dollar stablecoin. It has about $7.5M in circulation, ranking #143 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
In the issuer's words: USBD is a capital-efficient stablecoin over-collateralized by Bitcoin derivatives.
USBD supply history
USBD supply was flat over the past 30 days. It is at or near its all-time high.
Is USBD holding its peg?
There is no live market price for USBD. It is not actively traded on any exchange or DEX we can see, which is common for bank-issued and permissioned stablecoins that are only minted and redeemed directly with the issuer.
Where USBD lives: supply by blockchain
USBD is spread across several networks. The largest, Hemi, holds 73% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How USBD is backed
USBD 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: Users mint USBD by locking approved collateral like LSTs or BTC in a vault, and can redeem it by repaying USBD to unlock their collateral.
Reserve reports and audits: github.com · cantina.xyz · scalebit.xyz
USBD 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 $7.5M 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.
USBD vs USDT and USDC
Similar crypto-backed stablecoins
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USBD FAQ
What is USBD?
USBD is a crypto-backed US dollar stablecoin. It has about $7.5M in circulation, ranking #143 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
What backs USBD?
USBD is a crypto-backed stablecoin. USBD 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 USBD on?
USBD is live on 4 blockchains. The largest by supply are Hemi ($5.4M), Ethereum ($2.1M), GOAT ($548).
How much USBD is in circulation?
About $7.5M of USBD was in circulation at the last update, 0.0% over 30 days. That makes it the #143 stablecoin by supply among those we track.
Is USBD safe?
No stablecoin is risk-free. As a crypto-backed design, USBD'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 "no market price" on our peg monitor. This page is information, not investment advice.