Moneta (USDM) is a fiat-backed US dollar stablecoin. It has about $13.6M in circulation, ranking #121 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
USDM price
$0.9991
On peg Circulating supply
$13.6M
30-day change
Price
$0.9991
Blockchains
1
Tracked since
Oct 2024
What is USDM?
Moneta (USDM) is a fiat-backed US dollar stablecoin. It has about $13.6M in circulation, ranking #121 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: Fiat backed stablecoin native to the Cardano blockchain.
USDM supply history
$15.2M$12.4M
Oct 8, 2025Oct 8, 2026
$15.2M$7.1M
Oct 23, 2024Oct 8, 2026
Its peak was $14.8M in January 2026, and supply is 8% below that high.
Is USDM holding its peg?
Last price
$0.9991
Target
1.0000 USD
Status
On pegUSDM is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDM lives: supply by blockchain
Supply is concentrated: Cardano holds 100% of all USDM. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDM is backed
Each USDM 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: Approved business users can mint USDM, after completing KYC. To redeem USDM for USD, verified users request a burn of their USDM tokens, with the equivalent USD amount transferred back to their verified bank account.
USDM risks
Issuer and custody
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.
Freezes and blacklists
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
Small and thinly traded
With $13.6M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Regulation
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDM vs USDT and USDC
Similar fiat-backed stablecoins
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USDM in the news
Kraken adds DEBIT, OUSD, CT and WOJAK
FTC targets platforms behind government impersonation scams
Fed lays out stablecoin application path for insured state member banks
USDM FAQ
What is USDM?
Moneta (USDM) is a fiat-backed US dollar stablecoin. It has about $13.6M in circulation, ranking #121 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USDM pegged 1:1 to the US dollar?
USDM targets 1 USD. At the last update it traded at $0.9991, a deviation of -0.09%, which we classify as "on peg".
What backs USDM?
USDM is a fiat-backed stablecoin. Each USDM 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 USDM on?
USDM is live on 1 blockchain. The largest by supply are Cardano ($13.6M).
How much USDM is in circulation?
About $13.6M of USDM was in circulation at the last update. That makes it the #121 stablecoin by supply among those we track.
Is USDM safe?
No stablecoin is risk-free. As a fiat-backed design, USDM'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.