Tether vs Global Dollar — side-by-side comparison of supply, chains, backing, and peg data.
| Metric | USDT | USDG |
|---|---|---|
| USD circulation value | $183.92B | $3.26B |
| Rank (by USD value) | #1 | #7 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | Cash reserves (Paxos) |
| Chains deployed | 130 | 6 |
| Primary chain | Tron | X Layer |
| Issuer | Tether | Global Dollar |
| CoinGecko | View → | View → |
Both USDT and USDG track USD, but they differ in backing and issuer. USDT is backed by cash & t-bills while USDG is backed by cash reserves (paxos). As of today, USDT ranks #1 and USDG ranks #7 among tracked stablecoins.
USDT is larger, with $183.92B in circulation vs $3.26B for USDG. That's roughly 56.5× the size.
Neither USDT nor USDG is inherently "safer" — safety depends on the specific backing composition, issuer transparency, redemption rights, and regulatory oversight. USDT uses fiat-backed backing model; USDG uses fiat-backed. Users should read each issuer's most recent reserve attestation before choosing.
Yes. USDT and USDG 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 USDG on 6. 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.