ReserveBeatIndependent monitoring of public stablecoin reserve figures.
ReserveBeat monitors public stablecoin figures — issuer-published attestation reports and independently measured on-chain supply — with the methodology and its limits rendered on every page. Nothing here is a solvency claim about any issuer.
Independent monitoring of public stablecoin figures. The methodology and its limits render on every page — nothing here is a solvency claim about any issuer.
Tracked tokens are subjects of public data: supply figures are read from their public Ethereum contracts, and composition figures from the issuers' own published attestation reports. No tracked issuer is a customer and none has endorsed this board.

Stablecoin coverage board

This board tracks reserve coverage for major stablecoins from primary sources: issuer-published attestation reports and independently measured on-chain supply read at a quorum of Ethereum RPC providers. Every row renders its figures verbatim with source tier and freshness beside them; a token reporting only consolidated group figures appears as one consolidated row, never a per-token ratio.

By Aaron Cohen

Token ↑ChainAttestationMeasured supply (on-chain)Attested coverageCoverage history
PYUSDPayPal USD — Paxos Trust (PayPal USD)ethereumSTALE1,950,565,428.329666 PYUSD STORAGE_PROVENblock 25574646 · 2026-07-20 14:53 UTC1.003896× ISSUER_ATTESTED · as of 2026-05-29—
RLUSDRipple USD — Standard Custody (Ripple USD)ethereumSTALE754,061,729.042792486701377417 RLUSD ETH_CALLblock 25574646 · 2026-07-20 14:53 UTC1.048859× ISSUER_ATTESTED · as of 2026-05-29—
USD1World Liberty Financial USD — BitGoethereumSTALE1,619,454,468.262489246379985962 USD1 ETH_CALLblock 25574646 · 2026-07-20 14:53 UTC1.002030× ISSUER_ATTESTED · as of 2026-05-31—
USDCUSD Coin — CircleethereumSTALE50,462,716,709.644690 USDC STORAGE_PROVENblock 25574646 · 2026-07-20 14:53 UTC1.001004× ISSUER_ATTESTED · as of 2026-05-29—
USDGGlobal Dollar — PaxosethereumSTALE451,288,016.492025 USDG STORAGE_PROVENblock 25574646 · 2026-07-20 14:53 UTC1.002453× ISSUER_ATTESTED · as of 2026-05-29—
USDTTether USD — TetherethereumSTALE92,061,187,810.165867 USDT STORAGE_PROVENblock 25574646 · 2026-07-20 14:53 UTCAttested at consolidated group scope: the issuer's report states one redemption value across every token it issues, so no per-token coverage ratio is derived.—

This issuer attests its reserves at consolidated group scope: one total redemption value across every token it issues, with no per-token itemization for this token. A ratio only ever divides figures the document itself states at the same as-of date, so no per-token coverage ratio or on-chain reconciliation is derived here; the reserve composition renders at its stated scope.

Each coverage ratio divides two figures from the same issuer attestation at the same as-of date. On-chain measurements never enter a ratio — they are the independent cross-check of the liability side.

Last updated: Timestamps reflect the underlying data — when a figure was captured or a report was published — never when a page was built.

Evidence chain

chain head
seq 362 · 186c23db93…519d192d
latest anchor
none yet
methodology
08cbdb46be…53820381 · 2026-07-19

Every headline figure on these pages was independently re-derived in a written pre-publication review, stored and anchored on the same evidence chain it reviews.

Frequently asked questions

What does a coverage ratio on this board mean?

It divides two figures the issuer's own attestation report states at the same as-of date — total reserve against tokens outstanding. It renders verbatim with its source tier and freshness, and it is never a judgment of reserve sufficiency.

Why do some tokens show a consolidated figure instead of a per-token ratio?

Some issuers attest at consolidated group scope, covering several tokens in one report. The board renders exactly what the report states — one consolidated figure with its scope labeled — because a per-token ratio the document does not itemize would be a fabricated number.

How fresh are the on-chain supply figures?

Supply is measured directly from each token's public Ethereum contract at a quorum of independent RPC providers. Every measurement carries the block number and timestamp it was taken at, so freshness is visible on each row.

What happens when the methodology changes?

Every figure here is published only under a current pre-publication review of the served methodology. When the methodology changes, figures are withheld until a new review covers them — the board says so plainly rather than serving stale numbers.