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



# Anzen USDz (USDz)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Anzen's USDz is 80% backed by U.S. private credit ABS — SMB merchant receivables, factored invoices, auto leases, consumer installment lending, and litigation finance — underwritten by SEC-licensed broker-dealer Percent, with 15% in Superstate tokenized {{term:treasury}}Treasury{{/term}} products and 5% cash. A mediocre peg grade and hundreds of recorded depeg events make USDz one of the more frequently depegged stablecoins on the dashboard, and its supply has contracted sharply, answering the question of what happens when holders lose confidence in private credit backing. Qualified Market Makers mint at 1:1 USDz/USDC while retail relies on DEX arbitrage to close the gap — a two-tier system that works when the market trusts the collateral and breaks when it doesn't. The yield from private credit is real and uncorrelated with crypto markets, but so is the liquidity mismatch between 90-day {{term:rwa}}RWA{{/term}} receivables and instant {{term:redemption}}redemption{{/term}} expectations against {{term:attestation}}attestation{{/term}}-only proof.

## Collateral

Primarily diversified U.S. private credit assets (SMB merchant receivables, factored invoices, PO financing, auto lease financing, consumer installment lending) tokenized as Secured Private Credit Tokens (SPCT) underwritten by Percent (U.S.-licensed broker-dealer), alongside a Superstate USTB/USCC tokenized-Treasury sleeve and a cash buffer

## Peg Mechanism

Each USDz backed 1:1 by its reserve basket — majority SPCT private credit plus a Superstate USTB/USCC tokenized-Treasury sleeve and cash — locked in the smart contract; peg maintained by arbitrage — if below $1, traders buy at discount; if above $1, Qualified Market Makers mint at 1:1 USDz/USDC and sell

## Jurisdiction

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

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0xa469b7ee9ee773642b3e93e842e5d9b5baa10067` | 18 |
| base | `0x04d5ddf5f3a8939889f11e97f8c4bb48317f1938` | 18 |
| arbitrum | `0x5018609ab477cc502e170a5accf5312b86a4b94f` | 18 |
| blast | `0x52056ed29fe015f4ba2e3b079d10c0b87f46e8c6` | 18 |
| manta | `0x73d23f3778a90be8846e172354a115543df2a7e4` | 18 |

## Live Data

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