USDC is designed to be worth one dollar. Circle says it is backed in full by cash and short-dated US government debt, with a monthly report from an accounting firm. It holds for as long as those reserves do.
Source: Circle: transparency · checked 2 October 2026
USDT is designed to be worth one dollar, and Tether says every token is backed in full by its reserves. It holds for as long as those reserves do.
Source: Tether: transparency · checked 2 October 2026
PYUSD is designed to be worth one dollar. Paxos, which issues it for PayPal, says the reserves are held entirely in dollar deposits, US Treasuries and cash equivalents, and publishes a report every month. It holds for as long as those reserves do.
Source: Paxos: PayPal USD · checked 2 October 2026
Dai is soft-pegged to the US dollar. Its white paper says every Dai is backed by collateral locked in the protocol that is worth more than the Dai, and that a position judged too thin is sold off by automatic auction. It holds for as long as that collateral does.
Source: The Maker Protocol white paper · checked 2 October 2026
USDS was launched in 2024 by the project behind Dai, after it renamed itself Sky. Like Dai it is soft-pegged to the US dollar and backed by collateral locked in the protocol. It holds for as long as that collateral does.
Source: The Maker Protocol white paper · checked 2 October 2026
USDe is what Ethena calls a synthetic dollar. Ethena holds crypto assets as backing and offsets their price moves with short futures positions of about the same size. The backing sits with outside custody firms such as Copper and Ceffu. It holds for as long as the backing and the hedge do.
Sources: Ethena docs: how USDe works, Ethena docs: backing asset custody · checked 2 October 2026
RLUSD is designed to be worth one dollar. Ripple says it is backed one for one by dollars and cash equivalents kept in segregated reserve accounts, and publishes a reserve report by an outside accountant every month. It holds for as long as those reserves do.
Source: Ripple docs: RLUSD · checked 2 October 2026
USD1 is designed to be worth one dollar. Its docs say it is backed by cash, US government money market funds and other cash equivalents, all held by BitGo, which issues it. World Liberty Financial does not issue or hold it. It holds for as long as those reserves do.
Source: World Liberty Financial docs: what USD1 is · checked 2 October 2026
USDG is pegged to the US dollar. Its site calls it fully backed one for one and says reserve reports come out monthly. It is issued by Paxos Digital Singapore, which is supervised by Singapore's monetary authority. It holds for as long as those reserves do.
Source: Global Dollar: about USDG · checked 2 October 2026
EURC is designed to be worth one euro. Circle says it is backed 100% by euro held at regulated financial institutions in the European Economic Area, with a report published every month. It holds for as long as those reserves do.
Source: Circle: EURC · checked 2 October 2026
GHO is designed to stay at one US dollar. Users create it on demand against collateral worth more than the GHO, within limits set by Aave's governance. It holds for as long as that collateral does.
Source: Aave docs: GHO · checked 2 October 2026
USDD is designed to hold one dollar. Users create it by locking assets such as TRX and USDT worth more than the USDD, and a position that falls below its minimum is sold off. A separate module swaps USDD one for one with USDT. It holds for as long as that collateral does.
Source: USDD docs: system architecture · checked 2 October 2026
TUSD is pegged to the US dollar. Its site says independent firms attest to its reserves every day and that the reports are published there. It holds for as long as those reserves do.
Source: TrueUSD · checked 2 October 2026
USDtb is a dollar stablecoin. Its docs say it is fully backed by tokenized US Treasury fund products, at first BlackRock's BUIDL, plus a stablecoin reserve for quick redemptions, and that Anchorage Digital Bank has handled its issuance, redemption and reserves since October 2025.
Source: USDtb docs: introduction · checked 2 October 2026
USD0 is created and redeemed one for one against tokenized real-world assets from providers including Hashnote and Superstate. Usual's docs say institutions deposit that collateral directly, and other users go through intermediaries. It holds for as long as that collateral does.
Source: Usual docs: mint and redeem · checked 2 October 2026
crvUSD is minted by borrowers who lock crypto collateral in Curve's contracts. Contracts called PegKeepers add crvUSD to trading pools when its price is above 1.0 and withdraw it when the price is below. It holds for as long as that collateral does.
Sources: Curve docs: crvUSD overview, Curve docs: PegKeepers · checked 2 October 2026
GUSD is a US dollar stablecoin on Ethereum. Gemini's site says every GUSD is backed by cash or cash equivalents in bank accounts, money market funds and US Treasury bills, with monthly attestations, and that New York's financial regulator has overseen it since 2018. It holds for as long as those reserves do.
Source: Gemini: Gemini dollar · checked 2 October 2026
AUSD is pegged one for one to the US dollar. Agora's site says its reserves are short-term US Treasuries, overnight repo and other liquid assets, managed by VanEck and held by State Street. The issuer is Agora Bermuda Limited, licensed in Bermuda. It holds for as long as those reserves do.
Source: Agora: AUSD · checked 2 October 2026
Nothing holds bitcoin to a dollar value. Its price is set by what buyers and sellers agree on.
Source: Bitcoin.org FAQ · checked 2 October 2026
OHM is not pegged to any currency. Its docs call it free-floating and backed by the Olympus Treasury, with a system of contracts that enforces a price range.
Source: Olympus docs: OHM and gOHM · checked 2 October 2026
USDY is not held at one dollar: its price rises as yield accrues. A second version, rUSDY, stays at $1.00 and pays the yield as additional tokens.
Source: Ondo docs: USDY basics · checked 2 October 2026
The other questions
- Which coins can be sold for dollars?
- Which coins can be held without a company?
- Which coins can send a payment?
- Which coins can earn a return by themselves?
- Which coins can run applications?
- Which coins limit their own supply?
- Which coins can be redeemed for what backs them?
- Which coins can be used on other chains?
What a coin can do is not a reason to buy it or to sell it, and nothing here is advice. Each answer names where it comes from and the day we read it. A coin we have not written up is left out, not marked down. How these answers are written.