USDGO

USDGO is a regulated U.S. dollar stablecoin issued by Anchorage Digital Bank N.A. and distributed by OSL Group, a Hong Kong-listed digital asset platform, with the stated purpose of serving institutional settlement, corporate payments, and cross-border transactions, particularly for Asian enterprises. It claims to address the friction and compliance gaps that traditional businesses face when moving money across borders, by offering a fully on-chain, bank-regulated dollar equivalent that can settle around the clock. The token is pegged one-to-one to the U.S. dollar and is backed by high-quality liquid assets including U.S. Treasuries.

USDGO tokens are minted and redeemed against U.S. dollar reserves held and managed by Anchorage Digital Bank N.A., a federally chartered institution in the United States, with OSL Group acting as branding operator and distributor rather than issuer. The token exists on the Solana blockchain and the Ethereum ecosystem, as well as the Morph L2 network, and operates without a dedicated consensus algorithm of its own, relying instead on the consensus mechanisms of whichever host chain it is deployed on. Holders receive a token whose value is intended to mirror one U.S. dollar, usable for settlement and payments wherever the token is accepted.

The data provided for USDGO contains no fee stream — no protocol revenue, no fee collection mechanism, and no yield distribution is recorded here. The token's reserves generate returns in the form of interest on U.S. Treasuries, but that income accrues to the issuer and reserve manager, not to token holders, which is the standard structure for fiat-backed stablecoins. Because there is no fee flow in the stored data, fee-based measures such as price-to-fees or revenue multiples that this site computes for other assets are not applicable to USDGO. The circulating stablecoin supply stood at approximately 1,266,727,715 tokens at the most recent point-in-time reading, and the 30-day change in that supply was negative 8.41 units, indicating a contraction in outstanding tokens over that period.