Bima USBD (USBD) stablecoin analytics
Answer First
What is Bima USBD (USBD)?
USBD is Bima's Bitcoin-backed CDP stablecoin minted from overcollateralized BTC LST vaults under Liquity-style mechanics with a USDC/USDP/GUSD PSM. The static profile records its US Dollar peg mechanism as: Liquity-style overcollateralized vaults with a 150% minimum collateral ratio; USBD can be redeemed permissionlessly for $1 of BTC-denominated collateral from the lowest-ratio vaults with a fee of coreRate + 75 bps; a Peg Stability Module...
Is USBD safe?
Pharos does not assess USBD as safe: it holds a D Safety Score grade (43/100) in the latest published rating, which flags significant structural risk. Static metadata says Bima USBD uses a Centralized (CeFi) governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Bima USBD (USBD) static profile: governance model Centralized (CeFi); backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated Sep 7, 2026
USBD is a Liquity-style CDP stablecoin minted from overcollateralized vaults of Bitcoin wrappers, with permissionless redemption against the lowest-ratio vaults and a PSM for near-1:1 stablecoin swaps. At the last fixed capture the entire collateral book sat in the WBTC wrapper branch, so the live custody assumption is WBTC's custodians, while the liquid-staking and restaking collateral in the marketing held no balance. Backing is nevertheless the strongest of the three pillars, priced through Chainlink BTC/USD...
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- Bitcoin liquid staking/restaking derivatives and other approved BTC wrappers deposited into BIMA vaults; the Peg Stability Module can also hold approved stablecoins such as USDC, USDP, and GUSD for peg operations, though no PSM stablecoin balance is present in the reviewed composition (100% WBTC collateral wrapper).
- Peg Mechanism
- Liquity-style overcollateralized vaults with a 150% minimum collateral ratio; USBD can be redeemed permissionlessly for $1 of BTC-denominated collateral from the lowest-ratio vaults with a fee of coreRate + 75 bps; a Peg Stability Module adds near-1:1 USDC/USDP/GUSD swaps
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Next Actions
Exact bot target: /subscribe dews,depeg,safety usbd-bima
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
USBD quick answers
What is Bima USBD (USBD)?
USBD is Bima's Bitcoin-backed CDP stablecoin minted from overcollateralized BTC LST vaults under Liquity-style mechanics with a USDC/USDP/GUSD PSM. The static profile records its US Dollar peg mechanism as: Liquity-style overcollateralized vaults with a 150% minimum collateral ratio; USBD can be redeemed permissionlessly for $1 of BTC-denominated collateral from the lowest-ratio vaults with a fee of coreRate + 75 bps; a Peg Stability Module...
Is USBD safe?
Pharos does not assess USBD as safe: it holds a D Safety Score grade (43/100) in the latest published rating, which flags significant structural risk. Static metadata says Bima USBD uses a Centralized (CeFi) governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs USBD?
Pharos classifies USBD backing as Crypto-Collateralized. Collateral, per the static profile: Bitcoin liquid staking/restaking derivatives and other approved BTC wrappers deposited into BIMA vaults; the Peg Stability Module can also hold approved stablecoins such as USDC, USDP, and GUSD for peg operations, though no PSM stablecoin... Reserve evidence: live reserve feed configured.
Can USBD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for USBD, when applicable, appear in the dossier below.
