Assets · Other claim · issued by Falcon Finance
Falcon USD (USDf) (USDf)New
Falcon Finance's overcollateralised synthetic dollar, minted against stablecoins, major crypto assets and selected tokenised real-world assets, with the collateral run in market-neutral strategies. Minting and redemption require KYC.
Issued through Falcon Finance USDf synthetic dollar Live (scaled)
Classification · low confidence
- Legal form
- Other claim from issuance terms
- Underlying
- Crypto assets · Crypto assets 98%, Government debt 1%, Government debt 1%, Government debt 0%, Corporate debt 0%, Government debt 0% (23 Oct 2026)
- Value behaviour
- Stable value · no income
- Ledger role
- Native
Other claim: overcollateralised synthetic dollar minted against stablecoins, crypto and tokenised RWAs. Falcon's transparency data at 23 Oct 2026 values the backing at $1,857.5m for 1,727.7m USDf: bitcoin and wrapped bitcoin (BTC $1,198.5m, enzoBTC $339.1m, mBTC $258.3m) are 96.7%, mostly held at ChainUp; USDC $24.8m, USDT $17.9m, JAAA, JTRSY and USTB about $0.5m, $0.5m and $0.1m, the rest small altcoin positions and liquidity pools (counted here as crypto). Issuer data only, hence low.
Sourced[2]. How assets are classified: methodology.
Contracts
No contract addresses recorded yet.
Sources
- [1]USDf (Synthetic Dollar) | Falcon Finance docs — Falcon Finance. Accessed 15 Oct 2026.B
- [2]USDf transparency data (reserves by custodian and asset) — Falcon Finance, 23 Oct 2026. Accessed 26 Oct 2026. Issuer's data feed behind app.falcon.finance/transparency; snapshot 23 Oct 2026 12:03 UTC; TVL $1,857,463,820, USDf supply 1,727,683,715..B
- [3]Redemptions | Falcon Finance docs — Falcon Finance. Accessed 27 Oct 2026. KYC'd users may redeem USDf for supported stablecoins (classic redemption) or reclaim the non-stablecoin collateral they locked (claim), both after a 7-day cooldown while Falcon unwinds its strategies..B