USDf

Symbol	USDf
Peg	USD
Backing	Crypto backed
Status	Active
Launched	2025
Networks	L1 EVM Ethereum
Specifications	Backing Overcollateralized with Bitcoin, stablecoins, altcoins, and tokenized real-world assets. Auditor Harris & Trotter (HT Digital) Reserve reporting Daily transparency dashboard / proof-of-reserves-style updates plus quarterly audit/attestation reports.
Use cases	Yield, DeFi collateral
Mint and redeem	Direct USDf minting and redemption through Falcon Finance requires a Falcon account and KYC/KYB verification. In the Classic Mint, users deposit eligible stablecoins or non-stablecoin crypto collateral; stablecoins are generally minted at a 1:1 ratio while non-stablecoin collateral is subject to an overcollateralization ratio determined by its risk profile. Falcon states a minimum Classic Mint size of $10,000. USDf holders that have completed the required verification can redeem through Falcon for supported stablecoins or, where applicable, reclaim eligible non-stablecoin collateral; classic redemptions have a stated $10,000 minimum and are subject to a seven-day cooldown before the assets become available. Falcon also operates an Innovative Mint for eligible non-stablecoin collateral with fixed terms and a stated $50,000 minimum. U.S. users are not permitted to mint or redeem USDf directly with Falcon, although USDf can be held and transferred onchain permissionlessly.
Depeg history	Date 2025-07-08 · Low price 0.9783 · Cause Falling onchain liquidity, concerns about collateral quality and transparency, and accusations of reserve mismanagement weakened market confidence; Falcon said the brief deviation was driven by market sentiment and that the peg subsequently recovered.
Regulatory status	Jurisdiction Any jurisdiction · License type “Falcon Digital Limited … is not currently licensed by any regulatory authority” (Risk Disclosure Statement, USDf and sUSDf Terms and Conditions) · Status Unlicensed

Chains holding at least $1M of this token, from the daily cross-chain compilation. The total may differ from the market capitalization above, which is a separate measurement.

Addresses as recorded for this token. Verify against the issuer's own published address before sending funds.

Official site · Whitepaper

USDf is a synthetic stablecoin designed by Falcon Finance to provide yield-bearing opportunities while maintaining transparency and stability. USDf is overcollateralized and backed by a diversified reserve portfolio including Bitcoin, stablecoins, altcoins, and tokenized real-world assets. The reserves are overcollateralized and audited quarterly by Harris & Trotter LLP.

License and registration entries summarize public records and issuer statements as of the dates shown and are not legal advice; confirm current status with the relevant regulator. Terms.