RealFi USDrf (USDRF) is a fiat-backed US dollar stablecoin. It has about $5.1M in circulation, ranking #153 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is USDRF?
RealFi USDrf (USDRF) is a fiat-backed US dollar stablecoin. It has about $5.1M in circulation, ranking #153 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: USDrf is a US dollar stablecoin on Cardano backed by a portfolio of real-world assets, including money market funds, collateralized loan obligation funds, corporate bonds, and private credit. Those underlying assets are held off-chain.
USDRF supply history
It is at or near its all-time high.
Is USDRF holding its peg?
USDRF is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDRF lives: supply by blockchain
Supply is concentrated: Cardano holds 100% of all USDRF. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDRF is backed
Each USDRF 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: USDrf is minted and redeemed by verified users through RealFi, which purchases and sells the backing real-world assets off-chain. Redemption is against reserve assets at a rate set in protocol settings; USDrf is not rebased. Holders can stake USDrf for sUSDrf, the junior token, whose exchange rate rises as the backing portfolio earns and falls when it loses.
USDRF risks
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.
Fiat-backed issuers can usually freeze tokens at specific addresses, for example to comply with sanctions or court orders.
With $5.1M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USDRF vs USDT and USDC
Similar fiat-backed stablecoins
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USDRF FAQ
What is USDRF?
RealFi USDrf (USDRF) is a fiat-backed US dollar stablecoin. It has about $5.1M in circulation, ranking #153 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USDRF pegged 1:1 to the US dollar?
USDRF targets 1 USD. At the last update it traded at $0.9999, a deviation of -0.01%, which we classify as "on peg".
What backs USDRF?
USDRF is a fiat-backed stablecoin. Each USDRF 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 USDRF on?
USDRF is live on 1 blockchain. The largest by supply are Cardano ($5.1M).
How much USDRF is in circulation?
About $5.1M of USDRF was in circulation at the last update. That makes it the #153 stablecoin by supply among those we track.
Is USDRF safe?
No stablecoin is risk-free. As a fiat-backed design, USDRF'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.