USDA, issued by Alpha Partners, is recorded in this registry as a U.S. dollar (USD) stablecoin, yet the issuer's own domain documents no issued token and instead publishes only the AP U-Card, a crypto-linked prepaid payment card. [S1][S2]

On the issuer's own pages no tokenholder economic claim, peg ratio, reserve composition, yield, NAV accrual, or attestation is documented, because no issuer token is offered. [S1][S2] The disclosed product holds a prepaid balance funded by a user's own third-party stablecoin top-ups, chiefly Tether (USDT), and is spent at merchants and ATMs. [S2][S3] Transfers between AP U-Card users are stated to be fee-free in USD, and a VIP tier costs 1,000 USD for a 5-year plan with a 1% fee rate. [S4]

No issuing legal entity, registration number, or jurisdiction of formation for the card business is documented; the only named entity in site metadata is Evervault Inc. of Dublin, Ireland, described as a third-party data-security provider rather than the issuer. [S1][S5] Alpha Partners claims a UK Financial Conduct Authority (FCA) authorized payment institution license and PCI DSS compliance without publishing a firm reference number. [S1][S2] The holder's claim is a no-overdraft prepaid balance, not a token. [S2] Onboarding requires name-and-email KYC, with enhanced AML and CFT checks, and excludes North Korea, Syria, Iran, and Cuba. [S2][S3]

The issuer offers no token, token standard, or mint and redeem mechanism. [S1][S2] For prepaid top-ups it states support across Ethereum, Tron, BNB Smart Chain, Polygon, and Solana, with each card linked to a unique USDT address for onchain traceability. [S1][S2] Top-ups arrive onchain, spend immediately, and clear over conventional card-network rails. [S2][S4]

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://alphapartner.vip/" },
    { id: "S2", url: "https://alphapartner.vip/banking" },
    { id: "S3", url: "https://www.alphapartner.vip/pii" },
    { id: "S4", url: "https://alphapartner.vip/pricing" },
    { id: "S5", url: "https://alphapartner.vip/about" },
  ]}
/>


# Outstanding supply Methodology

## Overview

Outstanding supply measures the circulating supply of stablecoins issued by a project. It excludes stablecoins that have been authorized but not issued, or that are held in the issuer’s treasury. It tends to serve as a proxy for the issuer’s revenue-generation capacity, as the collateral backing the outstanding supply is often invested in yield-bearing assets, such as U.S. Treasuries.

## Data sources

- Smart contract events capturing token issuance and redemption
- Token account balances and program instructions for non-EVM chains
- Token metadata for decimal precision and asset identification
- Token price feeds for USD conversion

## Common calculation approaches

### Event-based issuance tracking
For many stablecoin issuers, cumulative supply is determined by monitoring token issuance and redemption events. `Mint` and `Burn` events are extracted from the smart contracts of issuers such as Circle and Ethena to maintain a running total of net supply. Similar logic is applied to `Transfer` events involving the zero address for issuers like World Liberty Financial to identify changes in the circulating supply.

### Balance-based snapshot aggregation
Outstanding supply is also derived from daily snapshots of token holdings across various blockchains. On Solana, the total supply is aggregated from program instructions for issuers like Tether and Circle by summing the balances of all active token accounts. This method allows for the identification of circulating tokens while ensuring that assets held in known treasury or non-circulating addresses are excluded.

### Debt-based calculation with exclusions
For issuers with debt-based models, outstanding supply is calculated by identifying total minted debt and subtracting idle balances. For example, total debt is obtained from the `debt` function in `VAT` contracts for Sky, with assets held in bridge contracts or lending modules subsequently excluded to arrive at the net circulating amount.

**Note:** The calculation approaches and protocol examples above are representative patterns. Individual protocol implementations may vary.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Circulating supply of stablecoins issued by the project.

Outstanding supply

Stablecoins

Alpha Partners maintains a 1:1 USD anchor on USDA, marketed for cross-chain payments and asset settlement, with emphasis on compliance features.

USDA is a USD-pegged stablecoin issued by the AP Web3 / Alpha Partners ecosystem on BNB Smart Chain, marketed for compliant cross-chain payments and asset settlement. The issuer states a 1:1 USD anchor and emphasizes compliance and security features.

Alpha Partners (AP Web3 / APDAO) issues USDA and operates a Web3 ecosystem focused on payments and on-chain compliance infrastructure.

website

twitter

Stablecoin issuers

Alpha Partners

Alpha Partners USDA (USDA) is a U.S. dollar stablecoin issued by Alpha Partners.

USDA has been issued on BNB Chain as an ERC-20 token since August 2025.

Alpha Partners USDAUSDA