USD-pegged · fiat-backed · #26 by USD value
Ethena USDtb (USDTB) is a USD-pegged fiat-backed stablecoin, backed by tokenized us treasuries (ethena). It currently ranks #26 among tracked stablecoins by circulating supply, and is deployed across 2 blockchains. Data is updated daily at 00:00 UTC from DefiLlama.
| Chain | Share | Supply |
|---|---|---|
| Ethereum | 88.0% | $354.8M |
| Solana | 12.0% | $48.2M |
Ethena USDtb (USDTB) is a USD-pegged stablecoin backed by tokenized us treasuries (ethena). Its peg mechanism is fiat-backed, and it currently ranks #26 among tracked stablecoins by circulating supply.
USDTB has a circulating supply of $403.0M (USD equivalent). Data updates daily at 00:00 UTC from DefiLlama.
USDTB is backed by Tokenized US Treasuries (Ethena). This means holders' claims are collateralized in that form, with reserves reported by the issuer.
USDTB is deployed across 2 blockchains, with Ethereum holding the largest share of supply. See the Chain Distribution section on this page for the full breakdown.
USDTB shares a USD peg with USDT and USDC — the market's two largest stablecoins — but differs in issuer, backing composition, and typical use cases. USDT and USDC together account for the majority of USD stablecoin supply; USDTB ranks #26.
| Full Name | Ethena USDtb |
| Symbol | USDTB |
| Peg | USD |
| Peg Mechanism | fiat-backed |
| Backing | Tokenized US Treasuries (Ethena) |
| Chains Deployed | 2 |
| CoinGecko | View on CoinGecko → |
| Data Source | DefiLlama → |
| Last Updated | 2026-07-27 · refreshes daily 00:00 UTC |