USD0vsUSDTB
Usual USD vs Ethena USDtb — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USD0 — Usual USD
USDTB — Ethena USDtb
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USD0 supply moved -0.7% and USDTB +30.6% — USDTB grew faster. USDTB held the tighter band: worst deviation 7 bps against 34 bps.
Key differences
- USD0 and USDTB are similar in size — within 10% of each other by USD-equivalent value.
- USD0 ranks #19 while USDTB ranks #20 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- Both are fiat-backed stablecoins, so the mechanism is not what separates them.
- Reserves differ — USD0 holds tokenized us treasuries (usual), USDTB holds tokenized us treasuries (ethena).
- Chain coverage is comparable: USD0 on 2 chains, USDTB on 2.
Full comparison table
| Metric | USD0 | USDTB |
|---|---|---|
| USD circulation value | $547.0M | $527.4M |
| Rank (by USD value) | #19 | #20 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Tokenized US Treasuries (Usual) | Tokenized US Treasuries (Ethena) |
| Chains deployed | 2 | 2 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Usual | Ethena Labs |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USD0 and USDTB?
Both track USD, so they compete for the same use cases. USD0 holds tokenized us treasuries (usual); USDTB holds tokenized us treasuries (ethena). USD0 ranks #19 by USD value and USDTB ranks #20.
Which is bigger, USD0 or USDTB?
USD0 is larger, with $547.0M in circulation vs $527.4M for USDTB. That's roughly 1.0× the size.
Is USD0 safer than USDTB?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. Both use a fiat-backed model, so the difference sits in the issuer and the reserves rather than the design. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USD0 and USDTB?
Yes. USD0 and USDTB 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 USD0 or USDTB?
The right choice depends on your use case. Consider: which chain do you need? USD0 is available on 2 chains and USDTB 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.