Usual USD (USD0) is a stablecoin by Usual Protocol, pegged 1:1 with the US dollar, backed by U.S. Treasury Bills.
| Symbol | USD0 |
| Peg | USD |
| Backing | Rwa backed |
| Status | Active |
| Launched | 2024 |
| Networks | L1 EVM Ethereum |
| Specifications | Backing Fully backed by U.S. Treasury Bills and reverse repurchase agreements. Auditor Cohen & Company Redemption USD0 is a liquid stablecoin redeemable 1:1 for the underlying collateral (U.S. T-Bills / reverse repos) at any time. USD0++ (the separate locked/bonded version) has its own conditional and unconditional exit mechanisms that do not apply to plain USD0. |
| Use cases | DeFi collateral, Trading |
| Mint and redeem | USD0 is minted and redeemed 1:1 against eligible tokenized real-world-asset collateral through the Usual Protocol. In the direct primary-market path, institutional or otherwise permissioned participants holding eligible RWA tokens such as USYC, M or USTBL deposit those assets and receive USD0 at par; redemption reverses the transaction, with USD0 surrendered for eligible RWA collateral. The direct path has no stated minimum. In the indirect path, users deposit USDC and are matched with Collateral Providers that supply the required RWA collateral; the documented primary-order minimum for this path is 100,000 USD0, with smaller orders routed to secondary markets. The indirect mechanism is designed to give retail or permissionless users access without themselves holding permissioned RWA tokens. Redemption is therefore onchain against collateral rather than a general right to redeem USD0 directly for bank-account dollars from a centralized issuer. |
| Chain | Supply |
|---|---|
| Ethereum | $541M |
| Chain | Address |
|---|---|
| Arbitrum One | 0x35f1c5cb7fb977e669fd244c567da99d8a3a6850 |
| Base | 0x758a3e0b1f842c9306b783f8a4078c6c8c03a270 |
| Binance Smart Chain | 0x758a3e0b1f842c9306b783f8a4078c6c8c03a270 |
| Ethereum | 0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5 |
Usual USD (USD0) is a stablecoin issued by Usual Protocol, designed to maintain a 1:1 peg with the US dollar through backing by real-world assets.
USD0 is fully backed by short-duration U.S. Treasury Bills and reverse repurchase agreements, ensuring liquidity and stability.
The reserves are audited by Cohen & Company, with regular third-party attestations of holdings.
Usual USD (USD0) is a stablecoin by Usual Protocol, pegged 1:1 with the US dollar, backed by U.S. Treasury Bills.
Fully backed by U.S. Treasury Bills and reverse repurchase agreements.
USD0 is recorded on 1 network, Ethereum.
USD0 has a market capitalization of $541M as of 29 October 2026.