USDST is a fiat-backed US dollar stablecoin. It has about $5.0M in circulation, ranking #156 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is USDST?
USDST is a fiat-backed US dollar stablecoin. It has about $5.0M in circulation, ranking #156 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: USDST is the native USD-pegged stablecoin of the STRATO chain (BlockApps Mercata), used as the unit of account across its DeFi suite (lending, savings, CDPs, AMM pools). STRATO is the chain/platform; there is no separate STRATO token.
USDST supply history
USDST supply fell 0.1% over the past 30 days, to $5.0M. Its peak was $5.5M in May 2026, and supply is 9% below that high.
Is USDST holding its peg?
USDST is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USDST lives: supply by blockchain
Supply is concentrated: Strato Chain holds 100% of all USDST. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USDST is backed
Each USDST 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: USDST is minted and redeemed 1:1 against USD by BlockApps and via the on-chain CDPEngine, which mints USDST against approved on-chain collateral and burns it on debt repayment.
USDST 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 $5.0M 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.
USDST vs USDT and USDC
Similar fiat-backed stablecoins
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USDST FAQ
What is USDST?
USDST is a fiat-backed US dollar stablecoin. It has about $5.0M in circulation, ranking #156 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USDST pegged 1:1 to the US dollar?
USDST targets 1 USD. At the last update it traded at $0.9993, a deviation of -0.07%, which we classify as "on peg".
What backs USDST?
USDST is a fiat-backed stablecoin. Each USDST 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 USDST on?
USDST is live on 1 blockchain. The largest by supply are Strato Chain ($5.0M).
How much USDST is in circulation?
About $5.0M of USDST was in circulation at the last update, -0.1% over 30 days. That makes it the #156 stablecoin by supply among those we track.
Is USDST safe?
No stablecoin is risk-free. As a fiat-backed design, USDST'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.