Saturn Dollar (USDAT) is a crypto-backed US dollar stablecoin. It has about $94.4M in circulation, ranking #52 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is USDAT?
Saturn Dollar (USDAT) is a crypto-backed US dollar stablecoin. It has about $94.4M in circulation, ranking #52 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: USDat is a stablecoin fully backed by Tokenized U.S. Treasuries and Stablecoins.
USDAT supply history
USDAT supply grew 46.4% over the past 30 days, to $94.4M. Its peak was $115M in July 2026, and supply is 18% below that high.
Is USDAT holding its peg?
USDAT is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDAT lives: supply by blockchain
Supply is concentrated: Ethereum holds 100% of all USDAT. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDAT is backed
USDAT 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: To mint USDat, users must first complete Saturn's onboarding process. Only whitelisted addresses, both the depositor and the recipient, are permitted to interact with the protocol.
USDAT 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.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDAT vs USDT and USDC
Similar crypto-backed stablecoins
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USDAT FAQ
What is USDAT?
Saturn Dollar (USDAT) is a crypto-backed US dollar stablecoin. It has about $94.4M in circulation, ranking #52 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USDAT pegged 1:1 to the US dollar?
USDAT targets 1 USD. At the last update it traded at $0.9994, a deviation of -0.06%, which we classify as "on peg".
What backs USDAT?
USDAT is a crypto-backed stablecoin. USDAT 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 USDAT on?
USDAT is live on 1 blockchain. The largest by supply are Ethereum ($94.4M).
How much USDAT is in circulation?
About $94.4M of USDAT was in circulation at the last update, +46.4% over 30 days. That makes it the #52 stablecoin by supply among those we track.
Is USDAT safe?
No stablecoin is risk-free. As a crypto-backed design, USDAT'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.