USAT
Stablecoin Profile
USAT (USAT) is a fiat-backed stablecoin pegged to USD, with $27.8M in circulating supply across 1 blockchain networks. Each USAT is backed by reserves held by the issuer, with parity attested via defillama. The peg has historically held within ±1% on most trading sessions, with reserve composition and attestation cadence the primary inputs to its credit-risk profile.
About USAT (USAT)
USAT (USA₮) is a U.S.-regulated, fully dollar-backed stablecoin issued under the GENIUS Act framework, designed to maintain a 1:1 USD peg with reserves held in U.S. liquid assets and deployed for compliant digital payments and settlement.
USAT is minted when authorized participants deposit U.S. dollars with Anchorage Digital Bank, N.A., which issues USAT 1:1 onchain against segregated liquid reserves.
Recent supply activity
USAT (USAT) supply was unchanged in the last 24 hours, expanded by $7.8M (+38.75%) over the past week, and expanded by $7.8M (+38.75%) over the past 30 days.
Expansion phase: minting activity has outpaced redemptions, with circulating supply growing 38.75% over the past month.
Supply History
Network distribution
USAT circulates across 1 blockchain network. Ethereum hosts the largest share at 100.00%. Ethereum has shown the strongest 30-day growth at +38.75%, suggesting fresh issuance or bridge inflows on that chain.
| Chain | Supply | Share | 24h Δ | 30d Δ |
|---|---|---|---|---|
| Ethereum | $27.8M | 100.00% | 0.00% | +38.75% |
Peg stability history
USAT (USAT) is designed to trade at exactly 1.00 USD, with its peg defended through direct redeemability against off-chain reserves. Spot price currently sits at $1.0004, a +0.045% deviation from the target — well inside the stability band typical for reserve-backed dollar tokens.
How reserve-backed stablecoins defend their peg
Fiat-backed stablecoins maintain their peg through arbitrage: any time the secondary-market price drifts above $1.00, authorised participants mint new tokens by depositing dollars and sell them into the market; any time it drifts below, they buy on the open market and redeem 1:1 for dollars. The peg therefore depends entirely on (a) the reserves actually existing, (b) the issuer honouring redemption requests promptly, and (c) the issuer remaining solvent and unfrozen.
Practical implications for holders
- Counterparty risk is concentrated in the issuer and its banking partners — a banking failure (as in the March 2023 USDC / SVB episode) can cause short-term depegs even when the underlying reserves are sound.
- Reserve attestations are not full audits. Always read the firm name, scope, and date of the latest attestation report before treating the peg as risk-free.
- Redemption rights typically apply only to verified institutional partners, not to retail holders. Retail exposure is exited via secondary markets, where liquidity matters most during stress periods.
- Regulatory action against the issuer (NYDFS orders, OFAC freezes, court-ordered blacklists) can immediately impair specific addresses or even the entire token.
- Mantapex tracks peg deviation in real time from DeFiLlama price feeds, but for high-value holdings cross-check directly on at least one independent venue (CoinGecko, the issuer's own dashboard, or an on-chain DEX).
Peg-stability commentary is based on the mechanism class (reserve-backed) and is provided for educational purposes only — it is not financial advice. Past peg stability is not a guarantee of future performance, and even the highest-quality stablecoins have historically traded outside their target band during banking, regulatory, or liquidity stress.
Contract addresses
USAT (USAT) is deployed as a token contract on 1 blockchain network below. Always verify the contract address you're interacting with on the relevant block explorer before sending funds — phishing tokens reusing well-known stablecoin tickers are common, especially on newer chains.
| Chain | Contract address | Verify |
|---|---|---|
| Ethereum | 0x07041776f5007ACa2A54844F50503a18A72A8b68 | Explorer |
Contract addresses are sourced from DeFiLlama's stablecoin profile. Some chains (Tron, Solana, Aptos, Sui) use non-EVM address formats. The "Explorer" link opens the official block explorer for the given chain; we do not link out to third-party explorers that may show altered data.
Compare USAT to other fiat-backed stablecoins
Below are the largest fiat-backed stablecoins tracked on Mantapex alongside USAT (USAT). Comparing supply and chain footprint within the same mechanism class is more meaningful than cross-class comparison, because the underlying peg-defence assumptions are different.
| Stablecoin | Supply | Mechanism | Chains |
|---|---|---|---|
| Tether (USDT) | $184.1B | fiat-backed | 107 |
| USD Coin (USDC) | $79.6B | fiat-backed | 125 |
| World Liberty Financial USD (USD1) | $4.5B | fiat-backed | 8 |
| PayPal USD (PYUSD) | $4.1B | fiat-backed | 7 |
| BlackRock USD (BUIDL) | $2.5B | fiat-backed | 8 |
Peg Stability
Chain Distribution
Resources & data sources
USAT (USAT) is tracked across major crypto data providers. The links below open USAT (USAT)'s pages on CoinGecko and DeFiLlama, so you can cross-check supply, market cap, exchange listings and historical price data directly at the source.
Price feed sourced from defillama. Supply, peg and chain-distribution data are aggregated from DeFiLlama's stablecoins dataset, which combines on-chain balances across supported networks. Numbers on this page typically refresh every 10 minutes.
Recent USAT news
Latest reporting from major crypto news outlets covering USAT.
- Crypto news
Tether USAT launches on Celo as second mainnet
Tether's US-focused USAT stablecoin has launched on Celo, marking its second mainnet deployment after Ethereum and extending the token to a network widely used for digital-dollar…
- Crypto Economy
Tether's USAT Stablecoin Launches on Celo, Marking Its Second Mainnet Deployment
Tether has expanded its GENIUS Act-compliant USAT stablecoin to the Celo blockchain, making it the token's second live deployment after Ethereum. USAT users on Celo can pay…
- CoinPedia
Tether USAT Launches on Celo Going Beyond Ethereum for First Time
Tether is taking its GENIUS Act-compliant USAT stablecoin beyond Ethereum for the first time, and it has picked a network already seeing heavy stablecoin use. The launch on Celo…
- Coinspress
Why Tether Chose Celo for USAT's First Expansion Beyond Ethereum
Tether has expanded its GENIUS Act-compliant USAT stablecoin to the Celo blockchain, extending the regulated dollar-backed asset beyond Ethereum for the first time as competition…
- Crypto Briefing
Tether's USAT stablecoin launches on Celo with native mint, burn, and gas fee support
USAT's Celo launch could enhance crypto adoption by simplifying transactions and expanding regulated stablecoin access in emerging markets. Tether's USAT stablecoin launches on…
- The Block
Tether's GENIUS-compliant USAT stablecoin launches on Celo, marking first expansion beyond Ethereum
USAT can be used to pay for gas on the blockchain, meaning users will not have to hold multiple tokens to make USAT transactions.
- Crypto news
Tether targets $11T payroll market with major USAT expansion push
Tether has expanded its push into the US financial system by leading a $7 million funding round for Pact Labs to bring its USAT stablecoin into a payroll market that processes…
- Coingape
Tether Taps Pact Labs to Expand its USAT Inclusion in $11 Tln US Payroll Sector
USDT issuer Tether is accelerating its push into the US financial system by backing payroll infrastructure provider Pact Labs. For context, the stablecoin giant has led a $7…
Related stablecoins
Stablecoins comparable to USAT by collateral mechanism, peg currency, or circulating supply — handy for spotting alternatives if a peg breaks or a regulator forces a delist.
Other fiat-backed stablecoins
Stablecoins pegged to USD
Risk Warning
Stablecoins carry risks including de-pegging, regulatory changes, and counterparty risk. Always diversify and do your own research.
