🥇
Kra
Kraken
US and EU users who prioritise a spotless security record — no major hack since 2011 — and want a serious pro-grade trading terminal.
9.1
Score
★ Live priceRank · #96StablecoinsUSD · spot
Usual USD
USD0
$0.999503
24h
−0.02%
7d
+0.06%
30d
+0.05%
1y
+0.16%
24h low24h high
$0.999426
$0.999801
Market cap
$552.9M
Rank #96
24-hour volume
$1.37M
spot and derivatives
Circulating
553.18M
100.0% of max
All-time high
$1.33
−24.61% from ATH
Price action
12-month historyUsual USD price chart
Range$0.990722 → $0.999587+0.10%
$0.999587$0.997371$0.995154$0.992938$0.990722
April 30, 2026July 24, 2026
Snapshot
Key numbers
Rank
#96
Market cap
$552.9M
24h volume
$1.37M
FDV
$552.9M
Circulating
553.18M
Max supply
553.18M
Calculator
Usual USD converter
Convert between USD0 and US dollars at the live rate.
★ Live rate1 USD0 = $1.00
USD0
$USD
Records
Usual USD all-time history
▲ All-time highJuly 12, 2024
$1.33
−24.61% from current
▼ All-time lowApril 10, 2025
$0.962885
+3.80% from current
Where to buy
Full ranking Top exchanges for Usual USD
Independent editorial ranking. Score is 0–10 across six criteria: Security, Fees, UX, Features, Support, Reputation.
- 🥈CoiCoinbase Exchange
Institutions and funds requiring an SEC-registered venue with segregated qualified custody and audited on-chain reserves.
9.0Score - 🥉BinBinance
Active spot traders chasing the deepest global liquidity and the widest listing catalogue outside the US perimeter.
8.8Score - #4OKXOKX
Traders who mix spot and on-chain — the Web3 wallet, DEX aggregator and Ethereum L2 X Layer sit inside the same account as CEX pairs.
8.4Score - #5BitBitstamp
Long-horizon EU holders who want the oldest continuously-operating exchange (2011) with conservative listings and full MiCA licensing.
8.4Score - #6BybBybit
Derivatives-first traders who want tighter perp funding and a maker-friendly fee schedule; accept offshore regulatory footprint.
8.0Score
Adjacent
More Stablecoins
Top coins in the same category, ordered by market cap.
Briefing
About Usual USD (USD0)
What is USD0?
USD0 is a stablecoin issued by Usual Protocol, fully backed by short-term US Treasuries via tokenised RWA partners. Launched in 2024, Usual differentiates itself by distributing real Treasury yield to token holders through a locked-token mechanism — rather than Circle-style stablecoin issuers where yield accrues to the issuer, Usual's model routes yield to protocol participants.
In 2026, Usual has grown to be a meaningful mid-tier stablecoin with several hundred million dollars in USD0 circulation. The protocol has expanded across multiple chains (Ethereum, Arbitrum, and others) and has integrated with various DeFi protocols. Post-early-2025 controversy around USUAL reward parameter changes, the protocol has stabilised and continued operating with more sustainable economics.
USUAL is the governance token; USD0 is the base stablecoin; USD0++ is the 4-year locked version that earns enhanced USUAL rewards. This multi-token structure attempts to align long-term stakeholder incentives while maintaining USD0 as a functional stablecoin.
How Usual works
Users mint USD0 by depositing eligible RWA-backed assets (USYC, USDM, BUIDL, etc.). USD0 is 1:1 backed by these RWA holdings; USD0 holders can redeem for the underlying at any time.
USD0 holders can stake into USD0++ (4-year locked) for enhanced yield in USUAL tokens. The protocol captures Treasury yield from the RWA collateral and distributes portions of it to USD0++ stakers as USUAL emissions. This creates real yield exposure without the traditional risks of algorithmic stablecoin designs.
The USUAL token captures a share of protocol revenue and provides governance participation. Token distribution has emphasised community allocation and RWA depositor rewards.
The Usual product line in 2026
- USD0. Fully RWA-backed stablecoin. Base unit for the ecosystem.
- USD0++. 4-year locked version earning enhanced USUAL rewards.
- USUAL. Governance token capturing protocol revenue.
- USDe-style structured products. In development.
USD0 growth pattern: grew to ~$1B in 2024, then experienced significant USUAL token price volatility in early 2025 when staking reward mechanics shifted. The protocol has since adjusted parameters and continues operating with more sustainable economics.
Use cases in 2026
- Hold USD0 for dollar exposure. Fully RWA-backed 1:1 with tokenised US Treasuries.
- Lock into USD0++. 4-year lockup with enhanced USUAL rewards.
- USUAL governance. Vote on Usual Protocol proposals.
- USUAL fee revenue exposure. USUAL holders benefit from protocol revenue.
- DeFi collateral. USD0-denominated pools and lending markets.
Risks and structural questions
- RWA collateral counterparty risk. Depends on the tokenised Treasury issuers (BlackRock BUIDL, Hashnote USYC, Superstate USDM).
- USD0++ lockup illiquidity. 4-year lockup creates significant liquidity commitment.
- Early 2025 controversy legacy. The USUAL reward parameter changes created lasting community friction.
- Stablecoin market competition. Circle Arc, Ondo USDY, Ethena USDe, Sky USDS all compete for RWA-adjacent stablecoin demand.
- Regulatory perimeter. RWA-backed stablecoins face regulatory scrutiny across jurisdictions.
- Protocol execution risk. Newer protocol with less operational history than established stablecoin issuers.
Outlook for Usual in 2026
Usual's 2026 outlook depends on continued RWA stablecoin market growth and the protocol's ability to attract sustainable deposits after early 2025 controversy. The RWA-backed model has genuine merit; execution and market share depend on ongoing product and community management.
Analysis last updated:
Usual USD price analysis
Usual USD (USD0) trades at $0.999503 with a 24-hour volume of $1.37M and a market capitalization of $552.9M. The asset is currently ranked #96 among all tracked cryptocurrencies.
In the last 24 hours, the USD0 price has fallen +0.02%. On a seven-day window, Usual USD has climbed +0.06%, showing mixed signals between the short and medium term. Short-term moves are often amplified by liquidity, news flow, and derivatives positioning, so confirm signals across multiple indicators before acting.
Usual USD's all-time high of $1.33 was set on July 12, 2024. The current price sits +24.61% below that peak. Distance from the all-time high is a common reference point when evaluating long recoveries and macro support or resistance.
How to buy Usual USD
Buying Usual USD (USD0) is a five-step routine once you have picked the right venue and pair. The steps below mirror what most investors do today.
- Pick a reputable exchange. Choose a platform that lists USD0 with deep liquidity, transparent fees, and a clean security record. Our top-rated exchanges guide compares the leading venues side by side.
- Create and verify your account. Complete the exchange's KYC process — most platforms require a government-issued ID and a short identity check. It is a one-off step that usually takes a few minutes.
- Fund your account. Deposit fiat via bank transfer or card, or use a stablecoin like USDT or USDC. Stablecoin deposits settle the fastest and cost the least.
- Place a buy order. Open the USD0/USD or USD0/USDT pair, then execute a market order for instant fills or a limit order at your preferred entry.
- Secure your USD0. For long-term holdings, move tokens to a non-custodial wallet — a hardware device for highest security, or a reputable software wallet for frequent access.
You can also use the Usual USD converter above to estimate how much USD0 you would get for a given dollar amount before placing the order.
Is Usual USD a good investment?
Whether Usual USD is a good investment depends on your goals, time horizon, and tolerance for volatility. Like all cryptocurrencies, USD0 carries real market risk: prices can rise or fall sharply in a day, and past performance is not a reliable indicator of future returns.
Potential strengths
- Ranked #96 by market cap with an established trading history and active exchange coverage.
- Transparent on-chain data: real-time supply, circulation metrics, and publicly auditable transactions.
- Ongoing ecosystem development and community engagement, reflected in Stablecoins and USD Stablecoin activity.
Key risks to consider
- Volatility: 5–15% intraday moves are common across crypto markets.
- Regulatory uncertainty: policy changes in major jurisdictions can meaningfully affect price and access.
- Liquidity and custody risk: not all exchanges are equally safe, and self-custody requires careful key management.
This page provides data and analysis for educational purposes only. It is not financial advice. Always do your own research, diversify, and never invest more than you can afford to lose.
FAQ
Common questions about Usual USD
What is USD0?
USD0 is a fully RWA-backed stablecoin issued by Usual Protocol. Backed 1:1 by tokenised US Treasuries via RWA partners (BUIDL, USYC, USDM). Users can mint USD0 by depositing eligible RWA-backed assets.
What is USD0++?
USD0++ is a 4-year locked version of USD0 that earns enhanced yield in USUAL tokens. It provides long-term stakeholders with amplified rewards for committing capital for 4 years.
How is USD0 different from USDC?
Both are dollar-pegged stablecoins. USDC is issued by Circle (centralised, with reserves at regulated US banks). USD0 is decentralised, backed 1:1 by tokenised RWA (Treasury-backed tokens). USD0 distributes Treasury yield to stakers; USDC yield accrues to Circle.
What is USUAL?
USUAL is Usual Protocol's governance token. It captures a share of protocol revenue and provides governance participation. Token distribution has emphasised community allocation and RWA depositor rewards.
What happened with USUAL in early 2025?
In early 2025, USUAL token price experienced significant volatility when staking reward parameters shifted. The protocol has since adjusted parameters and continues operating with more sustainable economics.
Is USD0 safe?
USD0 is backed 1:1 by tokenised US Treasuries — the underlying collateral is high-quality. Risks include counterparty risk from the tokenised Treasury issuers (BUIDL, USYC, USDM) and general smart-contract risk.
Where can I get USD0?
USD0 can be minted directly through Usual Protocol by depositing eligible RWA-backed assets. It is also available on some exchanges and DeFi protocols. See our stablecoin rating for detailed recommendations.
Reporting
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