MUSD is Mezo's Bitcoin-backed stablecoin, minted when users deposit BTC as collateral and borrow against it at low, fixed rates. The system uses a collateralized debt position (CDP) model, where each MUSD is fully backed by Bitcoin and can be redeemed for BTC, helping MUSD maintain its 1:1 peg to USD. Borrowers can access high loan-to-value ratios (up to ~90%) while the system maintains over-collateralization (system >110%, typical user >150%). Positions below minimum collateral ratio are automatically liquidated to keep all MUSD fully backed.
- Macro context: MUSD is part of the tokenized money market, which represents only ~0.283% of global M2 money supply today.
Data as of Sep 6, 2026
Price performance
7D
+0.12%
14D
-0.00%
30D
-0.14%
1Y
-0.24%
All-time
-3.02%
Market Cap
$29.17M
24h Volume
$124.97K
Best On-Chain APY
3.26%
On-Chain Holders
10.44K
Summed across all deployed chains (per-chain wallets not de-duplicated)
Key facts
via /coins/{id}Market Cap Rank
#658
Circulating Supply
29.49M
Total Supply
29.49M
All-Time High
$1.37 · 2026-10-24
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