USDX Money USDX vs GHO — side-by-side comparison of supply, chains, backing, and peg data.
| Metric | USDX | GHO |
|---|---|---|
| USD circulation value | $683.4M | $648.2M |
| Rank (by USD value) | #17 | #18 |
| Peg | USD | USD |
| Mechanism | crypto-backed | crypto-backed |
| Backing | CDP-backed | Overcollateralized (Aave) |
| Chains deployed | 3 | 2 |
| Primary chain | BSC | Ethereum |
| Issuer | USDX Money USDX | GHO |
| CoinGecko | View → | View → |
Both USDX and GHO track USD, but they differ in backing and issuer. USDX is backed by cdp-backed while GHO is backed by overcollateralized (aave). As of today, USDX ranks #17 and GHO ranks #18 among tracked stablecoins.
USDX is larger, with $683.4M in circulation vs $648.2M for GHO. That's roughly 1.1× the size.
Neither USDX nor GHO is inherently "safer" — safety depends on the specific backing composition, issuer transparency, redemption rights, and regulatory oversight. USDX uses crypto-backed backing model; GHO uses crypto-backed. Users should read each issuer's most recent reserve attestation before choosing.
Yes. USDX and GHO 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? USDX is available on 3 chains and GHO 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.