---
title: "ZelleUSD (ZLUSD) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/zlusd-zelle/"
description: "Build-time stablecoin profile for ZelleUSD (ZLUSD)."
dateModified: "2026-11-01"
---



# ZelleUSD (ZLUSD)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** pre-launch

## Overview

ZelleUSD is the dollar stablecoin that Early Warning Services, operator of the Zelle network, unveiled on June 11 2026 in a release that named no issuer, chain or launch date. The Solana mint identifies Anchorage Digital Bank N.A. as issuer. All 30 mint transactions were signed by the key that also mints the Anchorage-issued USDPT and USDGO, and the token metadata, hosted by Anchorage, names the bank as issuer for Zelle. Supply was 137,650.11 ZLUSD across 14 funded wallets on November 1 2026. No source prices it and no DEX pool exists, so Pharos lists it pre-launch. The permanent delegate, also the mint authority, signed all nine burns from holder accounts without the owners' signatures, 20,612 ZLUSD in total, and can burn or move any holder's balance. A freeze authority has frozen the accounts of five specific wallets, none since thawed, and a pause authority can halt transfers. Anchorage's covered stablecoin terms back every stablecoin the bank issues with one aggregate reserve in a South Dakota express trust. The announcement and token metadata disclose no ZLUSD reserve composition, custodian or attestation. The terms let ZLUSD move to addresses outside Anchorage's client base, but the bank issues to and redeems from its own clients only.

## Collateral

Early Warning describes ZLUSD as U.S. dollar-backed, and the issuer's token metadata says it is redeemable 1:1 for U.S. dollars. Anchorage Digital Bank's covered stablecoin terms commit a reserve whose aggregate market value at each business-day close is at least equal to all outstanding ADB-issued stablecoins, held in a South Dakota express trust with ADB as trustee. The announcement and token metadata disclose no ZLUSD reserve composition, custodian or attestation.

## Peg Mechanism

Issuer-managed 1:1 USD redemption. Anchorage Digital Bank N.A. is sole issuer and obligor; under its covered stablecoin terms it issues to and redeems from ADB clients only, at par net of fees, and does not redeem from non-client holders. Single Solana Token-2022 mint whose mint, freeze, pause and permanent-delegate authorities are Anchorage keys.

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| United States | OCC | Federal Bank Charter |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| solana | `7NNkMtGACBbwJdMRYD2KchTKm2xBwnsb4bT7YSfRUWZ4` | 6 |

## Live Data

This stablecoin has launched, but Pharos has not yet admitted a price and supply source. Missing lane: price. CoinGecko zelleusd is a preview listing with null price and market cap, DefiLlama does not list ZLUSD, and no DEX pool exists for the Solana mint. Supply is observable on-chain at 137,650 ZLUSD, below the $5M review threshold. Live API data is unavailable, not zero, until both can be verified.