USDai

A dollar from USD.AI, backed one for one by PayPal USD (PYUSD) locked in its contract. Staked as sUSDai, it funds loans to companies buying AI chips and earns their interest.

Issuer

USD.AI (CHIP Foundation, Cayman)

Launched

Aug 2025

Supply

≈ $170M

Route

Synthetic dollar

How it is issued

Synthetic dollar on top of PYUSD

License

CHIP Foundation, a Cayman Islands foundation company, runs USD.AI; Permian Labs in Delaware builds it. No stablecoin license

Reserves

PYUSD, one for one, held in the USDai contract on Arbitrum (Oct 27, 2026). Until February 2026 it was backed by M0’s $M, which holds T-bills

Reports

A live reserves page and onchain contracts anyone can read. No independent reserve attestation; an accounting firm checked the GPU loans in July 2026

Networks

Arbitrum holds over 99%; also Ethereum, Base, Plasma, Solana and Arc

Yield

Not on USDai. Staked as sUSDai it earned about 6.5% to 7% in late October 2026, from GPU loan interest and rewards on the PYUSD; exits run in 30 day cycles

Access

Anyone can mint and redeem with PYUSD on Arbitrum, with AML checks; small swap pools. Its yield product is not offered to people in the US or UK

GENIUS Act

Not a payment stablecoin from a permitted issuer. USD.AI calls it a synthetic dollar, its terms say it may not hold its value and redemptions can be delayed or stopped, and no license is on record. The PYUSD under it is issued by Paxos, a regulated trust bank.

Check the supply yourself

• DefiLlama
• CoinGecko
• Pharos
• Arbiscan (onchain)

More stablecoins

XO ctUSD USDT USDC USDe DAI USD1 USDG PYUSD RLUSD USDD U TUSD EURC SoFiUSD CASH

Public information as of October 2026, simplified. Not legal or investment advice. Open the full stablecoins world.