STUSD, issued by the Angle Protocol smart contracts under the governance of ANGLE tokenholders, is a tokenized yield-bearing savings vault representing a share in a strategy that accrues native yield on the protocol's U.S. dollar (USD) stablecoin USDA [S1][S2][S3].

STUSD is a non-rebasing ERC-4626 savings vault share that accrues yield through a rising exchange rate, so each token becomes redeemable for a progressively larger amount of USDA over time rather than tracking a fixed price [S2][S3]. Yield derives from the protocol's modules, including returns on tokenized U.S. Treasury Bills and government bonds, DeFi yield-bearing assets, and borrower interest [S1][S4]. The savings contracts charge no deposit or withdrawal fees [S2][S3].

No single corporate entity issues STUSD; issuance is via smart contracts under the Angle DAO of ANGLE tokenholders, with Angle Labs, Inc. contributing as a software developer that disclaims possession, custody or control over user funds [S1][S5]. The Terms specify the courts of the British Virgin Islands as the exclusive forum for disputes [S5]. The holder's claim is an ERC-4626 vault share redeemable for the underlying USDA [S2][S3]. STUSD is not available to U.S. users, and general access relies on self-attestation that users may lawfully use the services and are not subject to sanctions [S5][S6]. Savings tokens are withdrawable at any time with no lock-up [S2][S3].

STUSD is an ERC-4626 vault token deployed at the same address across multiple chains, including Ethereum and Linea [S2][S3]. Holders mint shares by depositing USDA and redeem by withdrawing the underlying stablecoin, with settlement onchain and effectively immediate [S2][S3]. The protocol publishes a savings APY endpoint via api.angle.money [S3].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://www.angle.money/usda" },
    { id: "S2", url: "https://www.angle.money/steur" },
    { id: "S3", url: "https://docs.angle.money/savings/savings" },
    { id: "S4", url: "https://docs.angle.money/transmuter/transmuter" },
    { id: "S5", url: "https://www.angle.money/terms" },
    { id: "S6", url: "https://www.angle.money/blog/announcements/introducing-usda-angles-usd-stablecoin-for-boosting-onchain-forex-efficiency" },
  ]}
/>


Tokenized funds

Overcollateralized borrowers deposit funds into Angle and receive agEUR stablecoin.

Angle is a non-custodial stablecoin protocol built on Ethereum. Angle was co-founded by Pablo Veyrat and launched in 2021. The dashboard does not track the deprecated Core module.

ANGLE tokenholders own and govern the protocol. They currently take a cut of the transaction fees paid by the users and the interest earned on collateral assets (revenue). Angle’s investors include a16z, Fabric Ventures, Wintermute, etc.

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Stablecoin issuers

Angle

Angle stUSD (STUSD) is a tokenized fund share issued by Angle.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can subscribe and redeem in USDA, and holders have a right to redeem at net asset value.

STUSD has been issued on Ethereum as an ERC-4626 token since January 2024.

Angle stUSDSTUSD

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