Bringing blockchain innovation to the real world through the creation of blockchain native bank payment rails.
USDF is the banking industry’s answer to the need for a digital dollar. Blockchain technology can make payments more efficient and improve traditional banking services, expanding access to safe and affordable financial services.
Our Members
BANKS ALREADY OFFER DIGITAL DOLLARS
Most money in the US economy today is held as a deposit at an insured depository institution. The vast majority of this is held digitally. The Fed estimates that just 6% of transactions today are in cash.
We believe that the best way to leverage blockchain technology is to extend the existing banking model into this tokenized environment.
11%
Notes and Coins
16%
Reserves accounts at the Fed
73%
Bank deposits
Tokenized deposits are best positioned to bring the blockchain innovation into the real world.
As we bring money onto blockchain, we must maintain the numerous benefits and protections that our banking system provides today.
USDF is a “tokenized deposit” that represents an existing bank deposit on a blockchain ledger
that delivers modern payments infrastructure while maintaining the numerous protections and benefits that our two-tier banking system provides today.
Bank-Owned
The USDF Consortium is owned by its member institutions.
Real-world value
USDF is focused on bringing blockchain innovation into the “real world” by leveraging blockchain technology to improve traditional banking services rather than facilitating engagement in the non-bank crypto ecosystem.
Open platform
USDF is an open platform for innovation. Banks have the freedom to use USDF payments to power any application of their choosing and can elect to integrate to the chain through any vendor they choose via open-source code. Banks will never have to hire a specific vendor or implement or engage with USDF.
Interoperability
The USDF Consortium was founded to provide a forum for banks to come together and discuss common standards for blockchain-based payments. Today we see the development of many closed-loop systems that struggle to talk to each other. Without interoperability, these systems will never deliver the promise of more efficient payments.
Supports Credit Creation
USDF allows banks to leverage blockchain technology while ensuring banks can continue to leverage deposits to power lending.
Lean More About Tokenized Deposits
Blockchain 101
Blockchain technology holds tremendous promise to improve financial services, offering faster, cheaper services that can help promote financial inclusion, drive economic growth, and support the role of the U.S. Dollar as the global reserve currency.
USDF is the banking industry’s answer to the need for a digital dollar. Blockchain technology can make payments more efficient and improve traditional banking services, expanding access to safe and affordable financial services.
USDF is the banking industry’s answer to the need for a digital dollar. Blockchain technology can make payments more efficient and improve traditional banking services, expanding access to safe and affordable financial services.
Tokenized deposits can facilitate real-time payments between consumers, businesses, and merchants.
Programmable Payments
Programmable payments can automate payments flows to respond to real world events speeding up delivery of payments, creating efficiency, and reducing the risk of error or fraud.
Digital Asset Marketplace
Blockchain can serve as the ledger for other traditional banking assets such as loans. Bringing these assets on-chain can add transparency and make it easier to buy.
Advocacy
USDF represents banks of all sizes and advocates for regulatory clarity that ensures banks can leverage novel technology to be the responsible, trusted, and regulated provider of blockchain innovation.
Connect with peer banks as you build your bank’s blockchain strategy, upskill staff through participation in working groups, and engage in industry advocacy.
Owner
Owners of the Consortium are working together to build common infrastructure and intend to operate USDF payments. This includes access to common infrastructure and shared legal resources related to the implementation of tokenized deposits.
