USDrf, issued by RealFi Reserve Ltd., is a reserve-backed stablecoin pegged 1:1 to the U.S. dollar (USD) and held against a diversified real-world-asset portfolio of legally binding credit contracts rather than crypto trading strategies [S1][S2].

USDrf provides exposure to a reserve spanning U.S. Treasuries and money market funds sized at 10-20% of total value locked as a liquidity buffer, emerging-market floating-rate corporate bonds at 15-25%, investment-grade CLO ETFs, and senior-secured private credit [S1][S2]. Holders of USDrf earn no yield, since the protocol retains reserve earnings; income accrues only to tokenholders who stake USDrf into the sUSDrf receipt token across discrete weekly epochs [S1][S3].

RealFi Reserve Ltd. is a British Virgin Islands company, and RealFi does not claim to be a regulated financial entity, stating USDrf is not classified as a regulated financial instrument under current BVI virtual asset guidelines at launch [S4]. USDrf is a digital asset providing portfolio exposure, is not a bank deposit, is not insured, and carries risk including potential loss of principal [S1][S5]. Offerings are geo-blocked from the United States, EU/EEA, United Kingdom, Hong Kong SAR, and sanctioned jurisdictions, with mandatory KYC, KYB, and wallet whitelisting [S6][S7]. Whitelisted institutions redeem via a first-in-first-out queue with throttle limits; other holders exit through decentralized exchanges [S8].

USDrf is issued onchain on Cardano, with Lace, Eternl, Trezor, and Ledger wallets supported at launch [S9][S10]. Whitelisted institutions and market makers mint by depositing eligible stablecoin collateral such as USDC and USDM into the Fund Pool, with peg stability maintained through a Peg Stability Module and stability fund [S11][S12]. A Transparency Portal is designed to publish circulation, reserve valuations, and collateralization ratios [S13].

<Sources
  retrievedAt="2026-09-07"
  items={[
    { id: "S1", url: "https://docs.realfi.co/realfi-tokens/usdrf-base-stablecoin.md" },
    { id: "S2", url: "https://docs.realfi.co/real-world-backing/real-world-backing.md" },
    { id: "S3", url: "https://docs.realfi.co/realfi-tokens/susdrf-staked-usdrf.md" },
    { id: "S4", url: "https://docs.realfi.co/compliance/regulatory-status-of-the-protocol-entities.md" },
    { id: "S5", url: "https://docs.realfi.co/risks-and-disclaimer/legal-disclaimer.md" },
    { id: "S6", url: "https://docs.realfi.co/compliance/jurisdictional-eligibility.md" },
    { id: "S7", url: "https://docs.realfi.co/compliance/aml-kyc-framework.md" },
    { id: "S8", url: "https://docs.realfi.co/frequently-asked-questions/how-can-i-redeem-usdrf.md" },
    { id: "S9", url: "https://docs.realfi.co/frequently-asked-questions/what-wallets-will-be-supported-at-launch.md" },
    { id: "S10", url: "https://docs.realfi.co/getting-started/testnet-launch-functionality.md" },
    { id: "S11", url: "https://docs.realfi.co/frequently-asked-questions/what-other-coins-can-i-swap-for-usdrf.md" },
    { id: "S12", url: "https://docs.realfi.co/glass-box-approach/peg-stability.md" },
    { id: "S13", url: "https://docs.realfi.co/glass-box-approach/overview.md" },
  ]}
/>


Stablecoins

RealFi deploys reserve capital into a diversified portfolio of real-world assets including U.S. Treasuries, money market funds, investment grade CLO ETFs, floating-rate corporate notes and private credit. The RealFi treasury reconciles borrower repayments off-chain, then mints new USDrf on-chain to reflect realized profits and distributes it to sUSDrf holders through discrete weekly staking epochs, so each sUSDrf becomes redeemable for progressively more USDrf. The remainder of the income is allocated to a configurable treasury address. sUSDrf is the risk-absorbing layer and takes portfolio losses before USDrf holders are affected.

RealFi issues USDrf, a reserve-backed digital dollar, and sUSDrf, a non-rebasing staked token received by staking USDrf. USDrf is backed 1:1 by a reserve portfolio anchored by a liquidity buffer of U.S. Treasury bills and tokenized money market funds, supplemented by liquid floating-rate credit and short-tenor, senior-secured private credit. Cardano is the canonical chain for supply accounting, and a burn-and-mint bridge extends USDrf and sUSDrf to EVM networks.

RealFi is a stablecoin ecosystem built on Cardano. USDrf and sUSDrf are issued by separate British Virgin Islands business companies, while the protocol technology and its oversight are governed by Cayman Islands foundation companies.

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Stablecoin issuers

RealFi

RealFi USDrf (USDrf) is a U.S. dollar stablecoin issued by RealFi through RealFi Reserve Ltd.

Each token is redeemable one-for-one for U.S. dollars and is a direct claim on the issuer.

Institutions can mint and redeem directly with RealFi in USDC and USDM after completing KYC, and holders have a contractual right to redeem at par.

RealFi Reserve Ltd. is incorporated in the British Virgin Islands and operates without a specific regulatory regime.

Holder terms are governed by the law of the British Virgin Islands.

USDrf has been issued on Cardano as a Cardano native asset token since June 2026.

RealFi USDrfUSDrf

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