---
title: "apxUSD (apxUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/apxusd-apyx/"
description: "Build-time stablecoin profile for apxUSD (apxUSD). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-09-07"
---



# apxUSD (apxUSD)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

apxUSD is Apyx's dollar stablecoin backed by preferred shares of Digital Asset Treasury companies plus a cash and {{term:treasury}}T-bill{{/term}} buffer: an experimental collateral type that bets equity dividends from crypto-holding firms can stay near par. Apyx introduced what might be the most creative collateral backing in stablecoins: preferred shares from Digital Asset Treasury companies, publicly traded equity from firms like Strategy that hold large crypto positions. The theory is that variable-rate preferred shares trade near par regardless of crypto price volatility, providing stable collateral for a dollar token. Launched on Ethereum in February 2026 with DeFi Development Corp as an early investor, apxUSD scaled to nine figures fast. Then the theory met June 2026. The answer arrived quickly: as Bitcoin fell, Strategy's STRC preferred traded below par and apxUSD followed it down, first to the $0.90s in early June, then through $0.80 by late month. The token still trades below the dollar, the N/A overall grade is pinned by the active depeg, and backing is the weakest of the three pillars. The issuer calls preferred-share pass-through a feature rather than a bug, which is honest as far as it goes, but a dollar that trades at a structural discount whenever its collateral does is a tracking certificate wearing a stablecoin's clothing. Pharos treats the reserve profile as closer to {{term:rwa}}real-world-asset{{/term}} credit than to a cash-only stablecoin.

## Collateral

Preferred shares issued by Digital Asset Treasuries (DATs): variable-rate, dividend-bearing preferred equity from companies holding digital assets (e.g., Strategy STRC, Strive SATA), held in excess of apxUSD outstanding, plus a cash and short-term U.S. Treasury Bill buffer (incl. USDC) for liquidity; redemptions settle in USDC, with preferred-share positions sold to USDC under stress

## Peg Mechanism

Whitelisted primary-market mint/redeem with USDC settlement at Redemption Value; secondary liquidity and arbitrage support non-whitelisted holders, while Protocol-Owned Liquidity provides an additional stability buffer during market stress.

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| British Virgin Islands | N/A | N/A |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x98a878b1cd98131b271883b390f68d2c90674665` | 18 |
| base | `0xd993935e13851dd7517af10687ec7e5022127228` | 18 |
| solana | `HAYQtfJEQ9DbDbaHEhxfGsWbSZ3ywthdsVB3PuB72DYe` | 6 |
| bsc | `0x6b3788fd6604bbf03c5378d24e57bb334baad4af` | 18 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/apxusd-apyx.