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



# Superstate USTB (USTB)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

Superstate's USTB sits at $810 million in 100% short-duration government securities at BNY Mellon, sub-advised by Federated Hermes, audited by Ernst & Young — a pedigree that reads like a traditional fund prospectus because it essentially is one. The C safety grade looks middling until you read the breakdown: A+ in both resilience and dependency risk, dragged down almost entirely by an F in liquidity, which for a Reg D {{term:money-market-fund}}money-market fund{{/term}} restricted to qualified purchasers and accredited investors is less a flaw than a category error. {{term:treasury}}Treasury{{/term}} bills and {{term:rwa}}RWA{{/term}} {{term:attestation}}attestation{{/term}} sit underneath, with institutional {{term:custody}}custody{{/term}} at BNY Mellon as the anchor. Zero DEX liquidity and zero pool count confirm that USTB doesn't trade on decentralized markets at all; this is a subscribe-and-redeem product at daily NAV, now at $11.05 per share yielding 3.20%. The real significance remains infrastructural: USTB appears in the collateral stacks of other stablecoins that want {{term:treasury}}Treasury{{/term}} exposure without the BNY Mellon relationship, making Superstate less a consumer {{term:yield-bearing}}yield-bearing{{/term}} product than the institutional plumbing beneath DeFi's yield layer — which is exactly why a liquidity-driven grade penalty undersells what it actually is.

## Collateral

Short-duration U.S. Treasury Bills and government agency securities (weighted average maturity ~28 days), held in a segregated non-rehypothecated account at The Bank of New York Mellon; holdings disclosed publicly on a daily basis; sub-advised by Federated Hermes

## Peg Mechanism

NAV-accreting fund share token (not pegged to $1); price launched at ~$10/share and appreciates continuously as Treasury income accrues; subscription and redemption at daily NAV in USDC or USD; NAV calculated by NAV Fund Services each NYSE/Federal Reserve business day

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | SEC | Reg D Rule 506(c); Delaware Statutory Trust; restricted to U.S. Qualified Purchasers and Accredited Investors |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x43415eb6ff9db7e26a15b704e7a3edce97d31c4e` | 6 |
| plume | `0xe4fa682f94610ccd170680cc3b045d77d9e528a8` | 6 |
| solana | `CCz3SGVziFeLYk2xfEstkiqJfYkjaSWb2GCABYsVcjo2` | 6 |

## Live Data

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