# Tokens outstanding

The count of a stablecoin's tokens in circulation that an issuer's report states as its liability — the denominator of a coverage ratio. Tokens outstanding per the report and supply measured on-chain are different observations of a similar quantity, made by different parties at different instants; ReserveBeat renders them side by side.

## Sources

- [GENIUS Act (S. 1582, 119th Congress) — congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/1582)
- [ReserveBeat measurement methodology](https://reservebeat.com/methodology)

## Disclaimer

ReserveBeat renders figures from issuer-published reports and public blockchains, verbatim and at their stated scope. It is not an auditor, makes no attestation, and states no opinion on any issuer's solvency. Nothing here is investment, trading, legal, tax, or accounting advice. No figure published here is a recommendation to hold, buy, sell, or redeem any token.

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 site.

Source: https://reservebeat.com/learn/tokens-outstanding