USDz, issued by the Anzen Protocol smart contracts under the governance of $ANZ tokenholders, is a real-world-asset-backed stablecoin that targets a stable value of one U.S. dollar (USD) and is collateralized fully onchain [S1][S2][S3].

Each USDz is backed 1:1 with SPCT, a permissioned token representing a diversified portfolio of U.S.-based private credit securities underwritten and serviced by Percent, a US-licensed broker-dealer, with collateral expanded to include Superstate's USTB and USCC tokenized funds [S2][S4][S5][S6]. USDz itself does not generate yield; holders stake USDz on Ethereum mainnet to receive sUSDz, which accrues auto-compounding RWA-sourced rewards [S1][S7]. Withdrawals for V1 users incur only standard blockchain gas fees [S7].

Anzen is presented as a decentralized platform operating through smart contracts on public blockchains, and is not issued by a single corporate entity [S8]. The documentation states that USDz is not an investment product, not a registered security, and not a deposit, and disclaims any tokenholder claim on the collateral, characterizing USDz as an unsecured credit position to the issuer and the underlying bank [S1][S5][S8]. Direct minting and on-demand redemption are reserved for whitelisted institutions from permitted jurisdictions passing KYC and KYB screening; excluded jurisdictions include the United States, Russia, Iran, North Korea, Cuba, and Syria, among others [S2][S7][S4]. Retail holders exit by trading on permissionless external pools [S2][S4].

USDz and sUSDz use LayerZero's Omnichain Fungible Token (OFT) standard, with native deployments on Ethereum mainnet, Arbitrum, Base, Blast, and Manta, and bridging completing in 3-5 minutes [S1][S7][S9]. Minting is subject to caps once whitelisted [S2][S7]. Pricing is published via onchain oracles on Base referencing Chainlink, and reserves are verifiable on a transparency dashboard [S2][S9].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://anzen.finance" },
    { id: "S2", url: "https://docs.anzen.finance/usdz-101/transparency" },
    { id: "S3", url: "https://anzen.finance/everything-you-need-to-know-about-anz" },
    { id: "S4", url: "https://docs.anzen.finance/usdz-101/overview" },
    { id: "S5", url: "https://docs.anzen.finance/usdz-101/risks" },
    { id: "S6", url: "https://anzen.finance/anz-superstate-funds" },
    { id: "S7", url: "https://docs.anzen.finance/welcome-to-anzen/faq" },
    { id: "S8", url: "https://docs.anzen.finance/llms-full.txt" },
    { id: "S9", url: "https://docs.anzen.finance/developer-resources/smart-contracts.md" },
  ]}
/>


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Anzen

Anzen USDz (USDz) is a U.S. dollar stablecoin issued by Anzen.

Institutions can mint and redeem directly with Anzen in USDC after completing KYC.

USDz has been issued on public blockchains since May 2024 and is native to Ethereum, Base, and Blast.

Anzen USDzUSDz