Owning USD0: Uses, Storage and Risks

USD0 is Usual’s dollar-pegged stablecoin, designed to stay close to $1 and backed 1:1 by real-world assets such as U.S. Treasury bills. You might hold it to move dollar-like value between supported networks or use it in DeFi, where compatible apps may accept it for trading, lending or other activities. App support and terms vary, so check the exact token and network before connecting a wallet or approving a transaction.

USD0 is not the same token as USUAL. USUAL is associated with governance and ownership in the Usual project; USD0 is the stablecoin. Holding USD0 does not, by itself, mean you receive USUAL, interest or a share of the collateral. The project describes reserves as real-time, but that does not make USD0 a bank deposit or guarantee that you can redeem instantly at one dollar. Usual does not publish redemption procedures in the project details described here, so check current terms before relying on direct redemption.

USD0 has been issued on Ethereum, Arbitrum, Base and BNB Chain. These are separate networks: a USD0 balance on one chain is not automatically available on another. When you receive or send it, confirm that the receiving wallet or app supports both USD0 and the particular network you selected. Sending a token to an address using an unsupported network can make recovery difficult or impossible.

Use a wallet that supports the relevant chain and token standard; many general-purpose EVM wallets can display assets on these networks, but token visibility and app compatibility can differ. Check the contract address through a trusted Usual channel rather than relying only on a token name or symbol, since other tokens can use similar labels. USD0 is not native to any of the listed chains, so holding it does not mean you hold the chain’s gas token. You will generally need that network’s native asset to pay transaction fees.

As of 2026-11-08, USD0’s circulating and total supply were both about 540.1 million, with no maximum supply listed. Its market price was about $1, and its market capitalization was about $539 million on that date. These are snapshots, not fixed limits or promises: supply can change as tokens are issued or removed, and the market price can move away from the peg.

In a typical asset-backed stablecoin model, issuance and redemption affect how many tokens circulate. For USD0, its stated backing is real-world assets such as Treasury bills, but the project details described here do not explain the exact issuance, redemption or supply-adjustment process. A dollar target is not a guarantee of a dollar market price. The value you can actually receive may depend on trading liquidity, the app you use, network conditions and any redemption terms that apply.

You may receive USD0 from another wallet, through a compatible exchange or service, or by using an app that supports the token. Availability and requirements depend on the provider and your location. Before accepting or transferring it, verify the network, token contract and destination address. Do not assume a wallet balance shown under the USD0 name is authentic without checking the contract.

For storage, use a wallet you control if you are comfortable safeguarding its recovery phrase, or assess the custody and withdrawal rules of a service holding it for you. A self-custody wallet gives you control of the keys, but losing them can mean losing access; a custodial provider controls the keys and may restrict withdrawals. Neither method removes issuer, collateral, smart-contract or depeg risk. USD0 does not automatically earn interest simply because you hold it. Any yield would depend on a separate product or app, with its own conditions and risks.

A USD0 transfer usually requires the network’s gas fee, paid in that chain’s native asset, not in USD0. The fee depends on network congestion and transaction complexity, so it can vary even when the amount sent stays the same. Usual does not publish a single fixed transfer fee. Check the wallet’s fee estimate before confirming, and keep enough gas for any later transaction as well.

Moving USD0 between chains may involve a bridge or a service that swaps or transfers assets. That can add fees, exchange spreads, delays and extra smart-contract or custody exposure. The project details described here do not identify a bridge fee schedule for USD0, so review the exact service’s charges and supported routes before proceeding. Make sure the destination network and token are supported on both sides. A low quoted fee is not a reason to skip checking the bridge, contract and final receiving address.

USD0’s main risk is that its market price can fall below $1. As of 2026-11-08, its recorded all-time low was about $0.963 on 2025-04-10, and its all-time high was $1.33 on 2024-07-12. Those past prices do not predict future performance. A stablecoin peg depends on market confidence, liquidity and the ability to rely on the issuer and the assets backing the token.

The backing also creates risks that differ from holding cash: asset valuation, custody, legal claims and redemption access matter. Usual describes USD0 as fully backed by real-world assets, including Treasury bills, but does not publish the specific redemption steps in the project details described here. You also face smart-contract, wallet, bridge and network risks, including sending to the wrong chain or approving a malicious contract. Before using USD0, check current reserve and redemption disclosures, contract information, and the terms of any app where you plan to use it. Do not treat a dollar peg as a guarantee.