USD Coin vs BlackRock USD — side-by-side comparison of supply, chains, backing, and peg data.
| Metric | USDC | BUIDL |
|---|---|---|
| USD circulation value | $73.47B | $2.64B |
| Rank (by USD value) | #2 | #10 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | Tokenized US Treasuries (BlackRock) |
| Chains deployed | 154 | 8 |
| Primary chain | Ethereum | Ethereum |
| Issuer | USD Coin | BlackRock USD |
| CoinGecko | View → | View → |
Both USDC and BUIDL track USD, but they differ in backing and issuer. USDC is backed by cash & t-bills while BUIDL is backed by tokenized us treasuries (blackrock). As of today, USDC ranks #2 and BUIDL ranks #10 among tracked stablecoins.
USDC is larger, with $73.47B in circulation vs $2.64B for BUIDL. That's roughly 27.9× the size.
Neither USDC nor BUIDL is inherently "safer" — safety depends on the specific backing composition, issuer transparency, redemption rights, and regulatory oversight. USDC uses fiat-backed backing model; BUIDL uses fiat-backed. Users should read each issuer's most recent reserve attestation before choosing.
Yes. USDC and BUIDL 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.
The right choice depends on your use case. Consider: which chain do you need? USDC is available on 154 chains and BUIDL on 8. 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.