Stable Mint USD (USDSM) is a fiat-backed US dollar stablecoin. It has about $12.8M in circulation, ranking #122 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
What is USDSM?
Stable Mint USD (USDSM) is a fiat-backed US dollar stablecoin. It has about $12.8M in circulation, ranking #122 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
In the issuer's words: Stable Mint USD (USDSM) is a USD-denominated Electronic Money Token (EMT) issued under the EU's MiCA framework by Stable Mint Limited, a Malta-based Electronic Money Institution authorised by the Malta Financial Services Authority (MFSA). It provides a regulated digital representation of the US dollar for on-chain payments, settlement, treasury management and digital asset markets.
USDSM supply history
USDSM supply grew 4.7% over the past 30 days, to $12.8M. Its peak was $16.6M in September 2026, and supply is 23% below that high.
Is USDSM holding its peg?
USDSM is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDSM lives: supply by blockchain
USDSM is spread across several networks. The largest, Etherlink, holds 54% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How USDSM is backed
Each USDSM 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: USDSM is issued 1:1 against received US dollar fiat deposits, and is redeemable for fiat on demand through Stable Mint's onboarding and compliance framework. Reserves are held in dollar-denominated cash deposits and high-quality liquid assets.
USDSM 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 $12.8M in circulation, exiting a large position may move the price. Redemption may be limited to approved customers.
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.
USDSM vs USDT and USDC
Similar fiat-backed stablecoins
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USDSM FAQ
What is USDSM?
Stable Mint USD (USDSM) is a fiat-backed US dollar stablecoin. It has about $12.8M in circulation, ranking #122 among the stablecoins CoinScoop tracks, and runs on 4 blockchains.
Is USDSM pegged 1:1 to the US dollar?
USDSM targets 1 USD. At the last update it traded at $0.9990, a deviation of -0.10%, which we classify as "on peg".
What backs USDSM?
USDSM is a fiat-backed stablecoin. Each USDSM 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 USDSM on?
USDSM is live on 4 blockchains. The largest by supply are Etherlink ($6.9M), Ethereum ($5.0M), Arbitrum ($497K).
How much USDSM is in circulation?
About $12.8M of USDSM was in circulation at the last update, +4.7% over 30 days. That makes it the #122 stablecoin by supply among those we track.
Is USDSM safe?
No stablecoin is risk-free. As a fiat-backed design, USDSM'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.