USDX Money USDX (USDX) is a crypto-backed US dollar stablecoin. It has about $5.3M in circulation, ranking #152 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
What is USDX?
USDX Money USDX (USDX) is a crypto-backed US dollar stablecoin. It has about $5.3M in circulation, ranking #152 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
In the issuer's words: USDX is a synthetic USD stablecoin that takes on forms of BTC as backing, combined with short BTC hedges on exchanges to achieve a delta neutral approximate dollar position.
USDX supply history
It is at or near its all-time high.
Is USDX holding its peg?
USDX is trading more than 2% below its target, so treat it as depegged. Check the issuer's announcements and redemption status before acting.
Where USDX lives: supply by blockchain
USDX is spread across several networks. The largest, BSC, holds 77% of supply. Check that the token on your chain is the issuer's official contract, not a bridged copy.
How USDX is backed
USDX 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: USDX can be minted by approved entities who pass KYC/KYB screenings, using USDX.money contracts, where users deposit cryptocurrency as collateral and receive USDX, with corresponding short positions opened on derivatives exchanges to hedge the backing assets.
Reserve reports and audits: docs.usdx.money
USDX 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 $5.3M 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.
At the last update USDX traded at $0.0078 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.
USDX vs USDT and USDC
Similar crypto-backed stablecoins
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USDX FAQ
What is USDX?
USDX Money USDX (USDX) is a crypto-backed US dollar stablecoin. It has about $5.3M in circulation, ranking #152 among the stablecoins CoinScoop tracks, and runs on 3 blockchains.
Is USDX pegged 1:1 to the US dollar?
USDX targets 1 USD. At the last update it traded at $0.0078, a deviation of -99.22%, which we classify as "depegged".
What backs USDX?
USDX is a crypto-backed stablecoin. USDX 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 USDX on?
USDX is live on 3 blockchains. The largest by supply are BSC ($528M), Arbitrum ($119M), Ethereum ($35.9M).
How much USDX is in circulation?
About $5.3M of USDX was in circulation at the last update. That makes it the #152 stablecoin by supply among those we track.
Is USDX safe?
No stablecoin is risk-free. As a crypto-backed design, USDX'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 "depegged" on our peg monitor. This page is information, not investment advice.