USDtb Price
usdtbRank #111
$1.0000
-0.00% · 24h
24h
-0.00%
7d
+0.06%
30d
+0.03%
1y
-0.05%
24h range
$0.9998 — $1.00
Current price sits 75% of the way up today's range.
USDtb chart
USDtb price history
$1.0000
▲ 0.00% · 7D
Snapshot · last 12 months
| Date | Price |
|---|---|
| Aug 26, 2026 | $1.0000 |
| Jul 28, 2026 | $0.9996 |
| Jun 28, 2026 | $0.9988 |
| May 29, 2026 | $0.9992 |
| Apr 29, 2026 | $1.00 |
| Mar 30, 2026 | $0.9988 |
| Feb 28, 2026 | $1.00 |
| Jan 29, 2026 | $0.9983 |
| Dec 30, 2025 | $0.9992 |
| Nov 30, 2025 | $0.9999 |
| Oct 31, 2025 | $1.00 |
| Oct 1, 2025 | $0.9991 |
| Sep 1, 2025 | $1.00 |
USDtb is a fully reserved stablecoin issued by Ethena, designed to hold a 1:1 peg to the US dollar. Unlike Ethena's synthetic USDe, USDtb is backed largely by tokenised US Treasury assets, positioning it as a more conservative on-chain dollar.
- — USDtb is a fully reserved, dollar-pegged stablecoin issued by Ethena
- — Reserves are held largely in tokenised US Treasuries, including BlackRock's BUIDL
- — It is more conservative than the synthetic, derivatives-hedged USDe
- — The peg relies on full collateralisation and reliable mint-and-redeem arbitrage
What is USDtb?
USDtb is a dollar-pegged stablecoin from the Ethena ecosystem built to be simple and fully backed. Each USDtb is intended to redeem for one US dollar of value. Its reserves are concentrated in tokenised short-term US government assets, notably BlackRock's tokenised Treasury fund (BUIDL), alongside stablecoin holdings. This makes USDtb distinct from the synthetic, derivatives-hedged USDe: it is a conventional reserve-backed stablecoin meant to provide stability and a settlement asset even when derivatives-based yield strategies come under stress.
How does USDtb work?
USDtb maintains its peg through full collateralisation. When users mint USDtb, the equivalent value is held in reserves; when they redeem, tokens are burned and reserves released. The bulk of backing sits in tokenised US Treasury instruments that earn short-term yield, plus liquid stablecoins for redemptions. Reserves are custodied with regulated partners and subject to attestation. Because value is held in cash-equivalent assets rather than volatile crypto, USDtb behaves like a traditional fiat-backed stablecoin, with the peg defended by arbitrage against redeemable reserves.
What drives the USDtb price?
As a stablecoin, USDtb is engineered to stay near one dollar, so its price should not appreciate; the relevant question is peg stability. That depends on the quality and liquidity of reserves, the reliability of mint and redeem mechanisms, and confidence in the issuer and custodians. Short-term Treasury yields determine the return the reserves generate for the protocol. Demand grows with integrations across exchanges and DeFi, and with the appeal of a Treasury-backed dollar within the Ethena ecosystem.
Risks to consider
Stablecoins can de-peg if reserves become illiquid, custody fails or redemptions are disrupted. USDtb carries issuer, custodial and smart-contract risk, and depends on the tokenised Treasury products underpinning it. Regulatory treatment of stablecoins is evolving and could affect availability or redemption. Concentration in a small number of reserve providers is an additional dependency to weigh.
USDtb FAQ
Is USDtb a good investment?
USDtb is a stablecoin designed to hold a one-dollar value, not to appreciate, so it is a cash-management tool rather than a growth asset. It carries peg, custodial and regulatory risks. This is information, not financial advice; do your own research.
What backs USDtb?
USDtb is backed mainly by tokenised short-term US Treasury assets, including BlackRock's tokenised Treasury fund BUIDL, alongside liquid stablecoins used to meet redemptions. It is designed to be fully reserved on a 1:1 basis.
How is USDtb different from USDe?
USDe is a synthetic dollar that holds its value using a delta-neutral derivatives hedge, while USDtb is a conventional reserve-backed stablecoin holding tokenised Treasuries. USDtb is designed to be more conservative and stable in stressed conditions.
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Price data by CoinGecko, last refreshed . Figures are indicative, refresh about every 30 minutes, and may lag exchange rates. Read our methodology and disclaimer. Nothing here is financial advice.