USDtb
USDTB Rank #119Price chart
What is USDtb?
Issuer and reserve assets
USDtb originated in the Ethena ecosystem. Issuance, redemption and reserve administration moved to Anchorage Digital Bank on October 13, 2025. The bank is the sole issuer under the current framework. BlackRock's BUIDL fund provides the principal reserve exposure. BUIDL invests in short-duration dollar assets rather than using leveraged crypto-price hedges. Cash forms another component of USDtb's disclosed reserves.
Transactions and access
USDtb targets a value of one US dollar per token. Anchorage clients can mint, redeem and trade through the bank's platform. Access follows its customer onboarding and account procedures. Token supply changes with issuance and redemption activity. USDtb contracts are deployed on Ethereum, Base, Arbitrum and Solana. Transfers use the corresponding host network rather than a separate USDtb blockchain.
Disclosure and rewards
Anchorage publishes monthly reserve attestations prepared by an independent accounting firm. These reports disclose backing at specified reporting dates. The bank also offers an account-based rewards program for eligible USDtb balances. Participation in that program is separate from simply receiving tokens in an external wallet. USDtb's reserve model differs from the derivatives-based hedging used for Ethena's USDe.
Where to trade USDTB
3 exchanges · top 10
Live spot quotes from connected exchanges
USDTB funding rates
Live perpetual funding on every connected exchange. Positive = longs pay shorts.
Contracts & chains
Exact contract or mint per network — the identity layer used for DEX routing.
On-chain routes
Networks with a connected DEX routing adapter.