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Issued by United Stables
Market cap
DeFiLlama estimate
DIA price
Total supply
Holders
1.3B Uunissued
Supply exists onchain that the issuer states is not in circulation.
54holders
What the top-10 is
Shares of the same supply as Top-10, from public address labels covering 99.7% of the top-10 balance. Exchange custody is one address holding for many end holders. Unattributed means unlabelled, not self-custodied.
Measured on Ethereum. Shares are of the Ethereum supply, not the multi-chain total.
Market data · CoinGecko
Market data · CoinGecko
Circulating supply · DeFiLlama
Aggregator figure, not a contract read. DIA’s own onchain supply is the separate series below.
Percentage change in U's circulating supply as reported by DeFiLlama, measured against that source's own past. It is not a change in the onchain supply above, which DIA reads from the contracts directly and which is a different measurement of the same coin. A dash means the map has no reading close enough to the start of the window, a stretch inside it where supply was not reported at all, or a starting figure too small for a percentage to describe. Hover a dash for which.
$96.1M
deployed across 23 markets on 2 protocols
Lower bound: U's balance inside lending markets DIA reads on-chain directly. Excludes DEX liquidity, CDP collateral, and any market on a chain or protocol DIA does not yet track. DIA has no price snapshot on file for U, so this figure is converted using a DeFiLlama market price instead of DIA's own read.
DIA price
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Peg deviation
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Peg currency
USD
Primary use
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Last snapshot
Fri, Sep 4 UTC
$U is a US dollar stablecoin issued by United Stables Limited, a British Virgin Islands company. BNB Chain announced the native launch in December 2025.
Most fiat-backed dollar tokens take cash and treasury bills. $U also takes other dollar stablecoins as minting collateral. BNB Chain called this a stablecoin-inclusive reserve model.
The map reads about 1.21 billion U across Ethereum and BNB Chain. The peg reference is the US dollar.
Sources: United Stables official site, About Us and Highlights, BNB Chain blog, United Stables launches $U as a native stablecoin on BNB Chain
What the terms say
Section 3.2 of the terms says United Stables "intends to maintain Reserves consisting of cash, U.S. treasury bills, and/or fiat-referenced stablecoins", in proportions and with custodians it picks at its sole discretion, and gives no assurance about composition or liquidity. Section 3.3 says the tokens carry no right, title or interest in the reserves, that United Stables need not segregate them unless applicable law requires it, and that holders have no preferential, secured or proprietary claim in insolvency. The homepage says reserves are "held in segregated, auditable custody". Eligible assets named in the terms include USDT and USDC, and the BNB Chain announcement adds USD1.
What is published
One document sits behind the site's attestation reports heading, labelled Dec 2025. It is a custody balance attestation from CH Europe Digital Solution Sp. z o.o. (Ceffu) to United Stables Limited, dated 29 December 2025 and signed by Loh Teck, Director. It attests that assets held in custody for United Stables Limited related accounts totalled at least 409,900,018 USDT as of 23:59 UTC on 28 December 2025.
The custodian attested to its own balance. No accounting firm examined reserves against tokens outstanding. Nothing later than December 2025 is published.
Sources: United Stables Terms and Conditions, sections 3.2 and 3.3 on reserves, Ceffu attestation of off-exchange custody balance for United Stables Limited, 29 December 2025, United Stables official site, Transparency and Attestation Reports section, BNB Chain blog, stablecoin-inclusive reserve model
The issuer's What's On page lists spot U/USDT pairs on Binance, HTX, MEXC, Gate, LBank and BitMart, a U/TRY pair on Binance TR, and a Binance Earn product for U. On BNB Chain it links lending markets on Venus and Lista, and Trust Wallet's stablecoin earn page.
Sources: United Stables What's On page, listed venues and yield destinations
The site footer states that United Stables Limited "has not obtained registration, authorization, or licensing for $U" under the EU's Markets in Crypto-Assets Regulation, the Stablecoins Ordinance of Hong Kong (Chapter 656), the United States GENIUS Act of 2025, or the Securities Act of 1933. The terms add that the tokens are not legal tender, are not backed by any government, and carry no deposit insurance.
Sources: United Stables official site, footer regulatory disclaimer, United Stables Terms and Conditions, sections 3.1 and 3.4
Redemption
Only mint users can redeem. Section 6.4 says holders who acquired tokens any other way cannot redeem directly with United Stables, and can only do so by becoming a mint user. Section 3.3 says redemption is a contractual service and not a right to receive any specific reserve asset. United Stables may reject, delay, suspend or freeze any mint or redemption request without liability.
Contract powers
PeckShield audited the token contract on 20 September 2025 and found no ERC20 compliance issue. It raised one medium-severity finding, PVE-001, on the privileged owner account, which can mint tokens, freeze accounts, pause transfers and upgrade the contract behind its proxy. The report records the status as "This issue has been mitigated as the team plans to use a multi-sig as the owner account."
Reserve pass-through
The reserve may consist partly of other issuers' stablecoins. A freeze, a depeg or a redemption halt at USDT, USDC or USD1 reaches U through the reserve.
Sources: United Stables Terms and Conditions, sections 6.4, 6.5 and 3.3, PeckShield Smart Contract Audit Report 2025-157 for United Stables (U)
What the map reads
The Global Stablecoin Map tracks U on Ethereum and BNB Chain. Both deployments share the address 0xce24439f2d9c6a2289f741120fe202248b666666. Supply reads about 186.1 million U on Ethereum and 1,019.8 million on BNB Chain.
What sits outside it
A third deployment runs on Tron at TFNirp6PbqYE1ZTtWuCMUKJWLNZkoCoeFJ, issued on 10 March 2026, carrying about 55.0 million U. That balance is not in the map's supply total.
The map does not read the issuer's bank or custody accounts. The proof of reserves page points at a Chainlink feed on BNB Chain at 0xFa8e834DD2200923C706e6438d9030dB029B0c18, described on chain as "United Stables U Reserves". Read on 19 August 2026 it returned about $1.27 billion. The feed publishes one aggregate figure with no breakdown by asset, custodian or bank, and the page presents it as proof of reserve.
Sources: United Stables Proof of Reserves page, oracle contract and disclaimer, Tronscan TRC20 token record for United Stables (U) on Tron
United Stables Limited, a British Virgin Islands company. The token launched natively on BNB Chain in December 2025 and also runs on Ethereum and Tron.
Section 3.2 of the terms says United Stables intends to hold reserves of cash, U.S. treasury bills and fiat-referenced stablecoins, in proportions and with custodians it sets at its sole discretion. USDT and USDC are named as eligible minting assets.
One report is published, labelled Dec 2025. It is a custody balance attestation from Ceffu, the custodian, dated 29 December 2025, covering at least 409,900,018 USDT held in custody. No accounting firm has examined reserves against tokens outstanding.
No. Section 6.4 of the terms limits redemption to mint users. Holders who bought U on a secondary market cannot redeem directly with United Stables unless they onboard as a mint user.
The site footer states that United Stables Limited has not obtained registration, authorization or licensing for $U under MiCA, Hong Kong's Stablecoins Ordinance (Chapter 656), the United States GENIUS Act of 2025, or the Securities Act of 1933.
0xce24439f…8b666666Explorer ↗0xce24439f…8b666666Explorer ↗TFNirp6Pbq…ZkoCoeFJExplorer ↗Supply on this page is read from these contracts. Addresses are verified by DIA against the issuer’s own published documentation.
0xce24439f…8b666666freeze(address), unfreeze(address)paused()mint(address,uint256), mint(uint256)eip1967-transparent0xce24439f…8b666666freeze(address), unfreeze(address)paused()mint(address,uint256), mint(uint256)eip1967-transparentNot read on Tron. no RPC config.
Read from the deployed contract. “Not determined” means the contract’s full function set could not be enumerated, not that the capability is absent: a bytecode scan can confirm that a function exists and can never prove that one does not.
Reserve attestation cadence
A continuously-updating reserve feed rather than a periodic report.