Ethereum · ERC-20

How RUSD Works

A fully reserved US-dollar stablecoin with an institutional primary market and open secondary trading.

The Lifecycle

Four controlled actions connect bank dollars, onchain circulation, and redemption at par.

Deposit

An onboarded institution wires US dollars to the issuer.

Deposit

An onboarded institution wires US dollars to the issuer.

Mint

The issuer mints RUSD 1:1 and delivers it to the institution.

Mint

The issuer mints RUSD 1:1 and delivers it to the institution.

Circulate

RUSD trades freely on secondary markets; anyone eligible can hold and transfer it.

Circulate

RUSD trades freely on secondary markets; anyone eligible can hold and transfer it.

Redeem

Institutions return RUSD to the issuer and receive US dollars 1:1 at par; redeemed RUSD is burned.

Redeem

Institutions return RUSD to the issuer and receive US dollars 1:1 at par; redeemed RUSD is burned.

Two Markets

Institutional issuance anchors RUSD at par while secondary venues provide open market access for eligible participants.

PRIMARY MARKET · INSTITUTIONS

Mint and redeem at par

Mint and redeem RUSD 1:1 directly with the issuer after institutional onboarding and KYB verification.

SECONDARY MARKET · EVERYONE ELIGIBLE

Trade at market price

Buy and sell RUSD on DEX or CEX venues at the prevailing market price. Anyone eligible can hold and transfer it.

$1.00

TARGET PRICE

Keeping the Peg

When RUSD trades below one dollar, institutions can buy on the market and redeem at par. When it trades above one dollar, they can mint at par and sell. This arbitrage keeps the market price near one dollar.

The Reserve

Every RUSD is backed by at least one dollar of reserves in segregated custody.

Learn more

Built for institutional access

Begin KYB onboarding to access direct minting and redemption with the issuer.

For institutional access