USDB Blast (USDB) is a crypto-backed US dollar stablecoin. It has about $10.4M in circulation, ranking #130 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is USDB?
USDB Blast (USDB) is a crypto-backed US dollar stablecoin. It has about $10.4M in circulation, ranking #130 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: The only Ethereum L2 with native yield for ETH and stablecoins.
USDB supply history
USDB supply fell 9.5% over the past 30 days, to $10.4M. Its peak was $426M in June 2024, and supply is 98% below that high.
Is USDB holding its peg?
USDB is trading 0.5–2% from its target. Small coins often drift like this on thin markets. A gap that persists usually reflects redemption friction or doubts about the backing.
Where USDB lives: supply by blockchain
Supply is concentrated: Blast holds 100% of all USDB. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDB is backed
USDB 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 bridge USDC/USDT from ethereum and get USDB on blast.
USDB 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 $10.4M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
At the last update USDB traded at $0.9857 against a target of 1.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDB vs USDT and USDC
Similar crypto-backed stablecoins
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USDB FAQ
What is USDB?
USDB Blast (USDB) is a crypto-backed US dollar stablecoin. It has about $10.4M in circulation, ranking #130 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USDB pegged 1:1 to the US dollar?
USDB targets 1 USD. At the last update it traded at $0.9857, a deviation of -1.43%, which we classify as "slightly off peg".
What backs USDB?
USDB is a crypto-backed stablecoin. USDB 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 USDB on?
USDB is live on 1 blockchain. The largest by supply are Blast ($10.5M).
How much USDB is in circulation?
About $10.4M of USDB was in circulation at the last update, -9.5% over 30 days. That makes it the #130 stablecoin by supply among those we track.
Is USDB safe?
No stablecoin is risk-free. As a crypto-backed design, USDB'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 "slightly off peg" on our peg monitor. This page is information, not investment advice.