BUIDLvsUSDf
BlackRock USD vs Falcon USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
BUIDL — BlackRock USD
USDf — Falcon USD
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days BUIDL supply moved +13.7% and USDf -0.3% — BUIDL grew faster. BUIDL held the tighter band: worst deviation 0 bps against 54 bps.
Key differences
- BUIDL is roughly 2.2× larger than USDf by USD circulation value ($2.71B vs $1.26B).
- BUIDL ranks #10 while USDf ranks #14 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- BUIDL is a fiat-backed stablecoin; USDf is crypto-backed. Different mechanism, different failure modes.
- BUIDL reports tokenized us treasuries (blackrock) in reserve. We do not track a published reserve breakdown for USDf.
- BUIDL is deployed on 8 chains — much broader coverage than USDf's 2.
Full comparison table
| Metric | BUIDL | USDf |
|---|---|---|
| USD circulation value | $2.71B | $1.26B |
| Rank (by USD value) | #10 | #14 |
| Peg | USD | USD |
| Mechanism | fiat-backed | crypto-backed |
| Backing | Tokenized US Treasuries (BlackRock) | Delta-neutral (Falcon) |
| Chains deployed | 8 | 2 |
| Primary chain | Ethereum | Ethereum |
| Issuer | BlackRock (tokenized by Securitize) | Falcon Finance |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between BUIDL and USDf?
Both track USD, so they compete for the same use cases. BUIDL holds tokenized us treasuries (blackrock). We track no published reserve breakdown for USDf. BUIDL ranks #10 by USD value and USDf ranks #14.
Which is bigger, BUIDL or USDf?
BUIDL is larger, with $2.71B in circulation vs $1.26B for USDf. That's roughly 2.2× the size.
Is BUIDL safer than USDf?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. BUIDL uses a fiat-backed model; USDf uses a crypto-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between BUIDL and USDf?
Yes. BUIDL and USDf both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose BUIDL or USDf?
The right choice depends on your use case. Consider: which chain do you need? BUIDL is available on 8 chains and USDf on 2. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.