USD.AI (USDai) is a crypto-backed US dollar stablecoin. It has about $343M in circulation, ranking #26 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
What is USDai?
USD.AI (USDai) is a crypto-backed US dollar stablecoin. It has about $343M in circulation, ranking #26 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
In the issuer's words: USD.AI is a synthetic dollar protocol with USDai, a redeemable stablecoin, and sUSDai, a yield-bearing version backed by infrastructure loans and reserve assets.
USDai supply history
USDai supply grew 20.8% over the past 30 days, to $343M. Its peak was $663M in January 2026, and supply is 48% below that high.
Is USDai holding its peg?
USDai is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDai lives: supply by blockchain
Supply is concentrated: Arbitrum holds 100% of all USDai. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDai is backed
USDai 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 USDai by depositing USDC into USD.AI and can redeem it 1:1, while sUSDai converts USDai into a yield-bearing token redeemable after a notice period.
Reserve reports and audits: docs.usd.ai
USDai 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.
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.
USDai vs USDT and USDC
Similar crypto-backed stablecoins
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USDai FAQ
What is USDai?
USD.AI (USDai) is a crypto-backed US dollar stablecoin. It has about $343M in circulation, ranking #26 among the stablecoins CoinScoop tracks, and runs on 2 blockchains.
Is USDai pegged 1:1 to the US dollar?
USDai 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 USDai?
USDai is a crypto-backed stablecoin. USDai 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 USDai on?
USDai is live on 2 blockchains. The largest by supply are Arbitrum ($343M), Ethereum ($166K).
How much USDai is in circulation?
About $343M of USDai was in circulation at the last update, +20.8% over 30 days. That makes it the #26 stablecoin by supply among those we track.
Is USDai safe?
No stablecoin is risk-free. As a crypto-backed design, USDai'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. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.