---
title: "Keyrock Prime USDC (krUSDC) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/krusdc-keyrock/"
description: "Build-time stablecoin profile for Keyrock Prime USDC (krUSDC). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-10-02"
---



# Keyrock Prime USDC (krUSDC)

**Peg:** US Dollar

**Backing:** Crypto-Collateralized

**Governance:** CeFi-Dependent

**Status:** active

## Overview

Keyrock Prime USDC places deposited USDC into a Morpho lending market backed by cirBTC collateral. Its share value follows the vault's net assets, so borrower interest can increase the conversion rate while lending losses reduce it. The owner is a single externally owned account, and fee-setting actions have no configured delay. Share-transfer and direct withdrawal gates are disabled with their setter authority abdicated, although the deposit gate remains mutable. Holders retain Circle's underlying USDC freeze exposure, and their ability to obtain USDC depends on available lending liquidity rather than the vault's headline assets.

## Collateral

USDC lender positions in a single Morpho market secured by cirBTC on Arc

## Peg Mechanism

ERC-4626 shares accrue lending interest and realize losses against USDC; direct redemption uses idle USDC and a configured liquidity adapter, subject to market liquidity. In-kind deallocation retains underlying lending-position exposure.

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| arc | `0x5befab92a5a3d60f578cb51eeb4e4fd50a1e3123` | 18 |

## Live Data

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