USAT (USAT) is a USD-pegged stablecoin, meaning it is intended to track the value of the U.S. dollar in crypto markets. Like other stablecoins, USAT exists to give crypto holders a dollar-referenced asset that can be moved, stored, and exchanged on blockchain networks without switching into traditional cash.
For readers comparing USAT price, USAT wallet options, or ways to exchange USAT, the key idea is simple: USAT represents digital value tied to USD. It can be useful for transfers, portfolio balancing, payments, and moving between crypto assets while staying close to a familiar unit of account.
History, founders, project achievements of USAT
USAT was created as a dollar-referenced crypto asset, with the ticker USAT used to identify it across wallets, exchanges, and market data services. It is Tether’s dollar stablecoin for the U.S. market: USAT is issued by Anchorage Digital Bank, N.A., a federally chartered national trust bank, and launched on January 27, 2026. Its reserves are held in cash and short-term U.S. Treasury instruments.
The idea behind USAT follows the broader stablecoin model. A USD-pegged token gives crypto market participants a way to hold value in a dollar-denominated asset while still remaining within the crypto ecosystem. This is especially useful when moving between volatile assets, sending value across networks, or keeping funds ready for future swaps.
USAT is pegged to USD because the U.S. dollar remains one of the most widely used reference currencies in global finance and crypto trading. A dollar peg makes the asset easier to understand: one USAT is intended to represent value close to one U.S. dollar, rather than moving freely like many non-stable crypto assets.
Although USAT is designed to maintain a value close to 1 USD, its market price can fluctuate due to market volatility, changes in supply and demand, liquidity, or temporary deviations from its peg. This is why the live USAT price shown on SwapSpace may move slightly around the dollar mark. If you want more context on how pegs work in crypto, SwapSpace has a glossary guide to peg and depeg concepts.
In practical terms, USAT represents a bridge between crypto flexibility and dollar-based accounting. It is not meant to be a high-volatility asset; its main role is to provide a familiar unit of value for swaps, transfers, and crypto portfolio management.
USAT market cap
USAT market cap shows the total market value of USAT in circulation. It is generally calculated by multiplying the circulating supply of USAT by the current USAT price.
The USAT market cap can change when the circulating supply changes or when the token’s market price moves. Because supply and market data can update frequently, the most useful place to check current figures is the live price chart and market data displayed at the top of this SwapSpace USAT exchange page.
USAT wallets
A USAT wallet is any crypto wallet that supports the network version of USAT you want to hold. Wallet compatibility depends on the network, so always check that your wallet supports the exact USAT asset before receiving funds.
- MetaMask: A widely used Web3 wallet for EVM-compatible networks, often chosen for browser and mobile access.
- Trust Wallet: A multicurrency mobile wallet that supports many tokens across different networks.
- Ledger: A hardware wallet option for storing supported crypto assets with offline key protection.
- Trezor: Another hardware wallet choice for readers who prefer cold storage for supported assets.
- SafePal: A wallet ecosystem with mobile and hardware options for supported networks and tokens.
If you are comparing storage options, SwapSpace also has educational guides on hot wallets, cold wallets, and the difference between custodial and non-custodial wallets.
What networks does USAT exist on?
USAT launched as an ERC-20 token on Ethereum, and its availability on other networks depends on the issuer and on support from wallet and exchange providers. For you, the practical point is network matching: the USAT network selected for a swap or withdrawal should match the network supported by your receiving wallet.
Stablecoins often appear on networks that are commonly used for token transfers and crypto swaps, including EVM-compatible chains and other high-activity blockchain ecosystems. The exact USAT networks available for exchange can change as provider support changes. For a broader explanation of how networks differ, see SwapSpace’s guide to blockchain networks.
Available networks may vary, so check the exchange widget at the top of the SwapSpace page for the networks currently supported for USAT swaps.
Why exchange USAT on SwapSpace?
SwapSpace has been operating since 2019 and works as a non-custodial crypto exchange aggregator. That means you do not need to deposit funds into a SwapSpace account to swap USAT. Instead, SwapSpace compares offers from multiple partner exchanges so you can review available options before choosing a suitable USAT exchange route.
Before a crypto partner is listed on SwapSpace, it goes through internal verification. You can also check provider ratings in the Reviews section, while independent feedback about SwapSpace is available on Trustpilot.
Whether you want to exchange USAT for another stablecoin, swap USAT into a volatile crypto asset, or compare available USAT pairs, the widget at the top of the page shows current exchange options from supported providers.
