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The dollar thatlends to governments.

Lend to the US government with USDh, or to other governments with sUSDh.

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USDhBacked 1:1
sUSDh7% APY1
02 · The loan

Every dollar is a loan.

Your stablecoin issuer lends it, mostly to the US government.

The government pays the interest.

The issuer keeps it.

Interest kept from holders2$31,037,851,319
Kept from holders 93%Paid to holders 7%
Paid to holders2$2,514,814,713
Stablecoins in circulation3$297B
03 · The lender

You’re the lender.

You always were. You just never got paid.

What governments pay to borrow dollars4

Your stablecoin today0%
United States4.05%
UAE5.40%
Brazil5.90%
Turkey7.01%
Nigeria7.05%
Egypt7.32%
Bahrain8.95%
What the US paysThe extra other governments pay
sUSDh lends to a selection of these · 7% APY1See every government →

For centuries, ordinary people lent to governments and lived on the interest.

The biggestborrowers on earth.
Brooklyn Bridge, 1883. Built with money the city borrowed.

Then a middle man got in between.

  1. 1648A Dutch water board bond. It still pays interest.5
  2. 1790Hamilton turns America’s war debts into bonds.
  3. 1825New York borrows to dig the Erie Canal.
  4. 1883Brooklyn and New York borrow for the bridge.
  5. 1917Millions of Americans buy Liberty Bonds.
05 · The borrowers

What they owe their lenders today.6

The US alone spent $1.97 trillion more than it collected this year. That is $5.9 billion a day, borrowed. From you.

  • $29.9TThe US, in dollars it can printUSDh lends here
  • $3.2TOther governments, in money they can’t printsUSDh lends here
  • ~$47TOther governments, in their own moneyNot here · their money can fall
$246MBorrowed by the US every hour24 hours · $5.9 billion a day
$29.9TThe US, in dollars it can printUSDh lends here
$3.2TOther governments, in money they can’t printsUSDh lends here
~$47TOther governments, in their own moneyNot here · their money can fall
Each dot is $100 billion · about $80 trillion in all
06 · Your move

Pick your borrower.

Lending coupon · Series 2026No. 01
USDh

Lent to the US government. Rewards go back to the people who hold it.

Hamilton Prizes Soon Lending to United States

Your riskTouched only if the US can’t repay in full.

Get USDh
Mint and redeem at $0 cost.Backed 1:1
Lending coupon · Series 2026No. 02
sUSDh

Lent to other governments, in dollars only. No FX risk. No capital controls.

Projected yield 7% APY1

Your riskIf a government can’t repay in full, sUSDh takes the loss on that loan. That’s why it pays more.

Earn yield
Exit in 30 days, or sooner through the exit pool.Variable. Can be zero.1