---
title: "StablR USD (USDR) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdr-stablr/"
description: "Build-time stablecoin profile for StablR USD (USDR). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-06-03"
---



# StablR USD (USDR)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

StablR's USDR holds a Malta MFSA EMI license under MiCA with 100% reserves in cash and short-term government bonds, reviewed quarterly by Grant Thornton — a regulatory stack including formal {{term:attestation}}attestations{{/term}} that checks every European compliance box while the market barely notices at single-digit-millions in supply. That gap shows up in the grades: a strong A- on peg discipline and a near-perfect A+ on dependency, dragged to a C+ overall by a C- liquidity score and a D for decentralization. A handful of brief depeg episodes — one with a punishing downside excursion well past a thousand basis points — betray a thin on-chain footprint concentrated in a single Ethereum pool, and the asset still leans toward the stressed end of the volatility scale more than a regulated dollar token should. With liquidity that shallow, any meaningful exit runs through StablR's own issuer API {{term:redemption}}redemption{{/term}} route rather than the order book. Europe's MiCA framework was supposed to be the catalyst for regulated stablecoins, and USDR has the credentials to benefit — but credentialing and adoption remain stubbornly separate problems at this scale.

## Collateral

Cash and short-term government bonds held with regulated European financial institutions

## Peg Mechanism

Direct 1:1 redemption through StablR (MFSA-supervised EMI)

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| Malta | MFSA | EMI (MiCA) |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x7b43e3875440b44613dc3bc08e7763e6da63c8f8` | 6 |

## Live Data

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