USDST

On STRATO, an enterprise blockchain run by developers who built one of Ethereum's original clients in 2014, USDST is the network's borrow-against-collateral dollar. Holders lock crypto or tokenized precious metals such as gold and silver and mint the stablecoin through a collateralized debt position at up to eighty percent loan-to-value; repaying the debt frees the collateral. That makes it an onchain claim on deposited assets rather than a bank-backed note, redeemed through the protocol's smart contracts. STRATO markets itself as non-custodial and audited, with the physical metals on its platform redeemable for the real thing, and counts Ethereum co-founder Joe Lubin among its advisers. USDST is tightly bound to that single chain and its collateral marketplace, a specialized dollar for the STRATO and BlockApps Mercata environment rather than a widely traded stablecoin.