USAT

USAT, branded USA®, is a fiat-backed stablecoin issued by Anchorage Digital Bank, N.A., a federally chartered bank in the United States, and developed in partnership with Tether. Each token is designed to represent one U.S. dollar and is intended to function within the regulatory framework established by the GENIUS Act, a U.S. federal stablecoin law. It is aimed at users and institutions that require a dollar-denominated digital token operating under explicit U.S. federal oversight.

Each USAT token is backed by U.S. dollar reserves held by the issuer, Anchorage Digital Bank, with the token redeemable for one dollar at par. The token exists within both the Celo and Ethereum ecosystems, meaning it can be transferred and used in applications built on either network. No consensus algorithm is recorded for the token itself, as it is an asset-layer instrument rather than a native layer-one coin, and settlement relies on whichever underlying blockchain carries a given transaction.

The data stored for this asset does not include a fee stream, revenue figures, or protocol earnings, which means fee-based measures such as price-to-fees ratios are not applicable here. Revenue, if any, accrues to Anchorage Digital Bank as issuer through the management of reserve assets, but that information is not contained in the data on this page. The circulating supply stands at approximately 184,294,391 tokens point-in-time, and supply has contracted by roughly 0.629 percent over the trailing 30 days, which is relevant context for understanding the scale of the reserve obligation.