Tether vs World Liberty Financial USD — side-by-side comparison of supply, chains, backing, and peg data.
| Metric | USDT | USD1 |
|---|---|---|
| USD circulation value | $183.92B | $4.12B |
| Rank (by USD value) | #1 | #5 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | US Treasuries |
| Chains deployed | 130 | 8 |
| Primary chain | Tron | Ethereum |
| Issuer | Tether | World Liberty Financial USD |
| CoinGecko | View → | View → |
Both USDT and USD1 track USD, but they differ in backing and issuer. USDT is backed by cash & t-bills while USD1 is backed by us treasuries. As of today, USDT ranks #1 and USD1 ranks #5 among tracked stablecoins.
USDT is larger, with $183.92B in circulation vs $4.12B for USD1. That's roughly 44.6× the size.
Neither USDT nor USD1 is inherently "safer" — safety depends on the specific backing composition, issuer transparency, redemption rights, and regulatory oversight. USDT uses fiat-backed backing model; USD1 uses fiat-backed. Users should read each issuer's most recent reserve attestation before choosing.
Yes. USDT and USD1 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? USDT is available on 130 chains and USD1 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.