OCB — Quality Rating · Stablecoins
USDT Quality Rating
USDT (Tether) scores 65.3/100 on OnChain Benchmark's Stablecoin Quality Rating — rated Developing (methodology v1.5-stablecoin, as of Oct 11, 2026).
Latest onchain read Oct 10, 2026
Updated daily
Quality score
65.3
of 100 · Developing
Dimensions measured
3
of 4
Outstanding supply
$183.80B
as of Oct 10, 2026
Chains
7
with measured supply
Why USDT scores 65.3
The biggest gap in USDT's score is what its reserves hold.
The three measured dimensions total 49 of a possible 75. Rescaled to 100, that is 65.3.
Composite
65.3 / 100
| Dimension | Score |
|---|---|
Reserve Quality The issuer publishes only a reserve total, not what the reserves hold. Upgrade factorPublishing what the reserves hold, not just their total. | 6 / 25 |
Transparency The reserve reports keep to the issuer's own quarterly schedule, but they're voluntary rather than required by a regulator. Upgrade factorIssuing through a US trust-chartered company whose auditor is registered with the US audit regulator, the PCAOB (up to 23). | 19 / 25 |
Redemption Depth It is easy to exit. The shortfall is onchain trading depth: about $158.41M can be sold within 1% of the peg. Upgrade factorMore onchain liquidity: $500.00M or more tradable within 1% of the peg (25). | 24 / 25 |
Holder Concentration Its holder base is too large or too widely distributed to measure to ground truth, so the concentration figure is not published. | — / 25 |
OCB Instrument
Outstanding supply
OCB Instrument
Rating history
Rating changes
Each move and the dimension behind it
On record
0 rating actions · 1 methodology change
| Date | Type | Change |
|---|---|---|
| Sep 24, 2026 | Methodology update | Limited → Developing |
Key facts
Issuer, rubric and methodology
- Issuer
- Tether
- Asset class
- Stablecoins
- Rubric
- Stablecoin Quality Rating
- Methodology
- v1.5-stablecoin
- Last scored
- Oct 11, 2026
- What it is
- Largest stablecoin by supply, pegged 1:1 to USD with monthly reserve attestations.
Chains
Share of measured supply by chain
With measured supply
7
| Chain | Share of measured supply |
|---|---|
| Tron | 50.8% |
| Ethereum | 46.9% |
| Solana | 1.6% |
| TON | 0.3% |
| Aptos | 0.2% |
| Avalanche | 0.2% |
| Celo | <0.1% |
| BNB Chain | Bridged — counted on source chain |
Supply scope: Sum across all 7 chains covered — Tron, Ethereum, Solana, TON, Aptos, Avalanche, Celo.
Evidence
Verified facts behind the rating
A sample of the verified facts behind USDT’s score. The full diligence trail is in the terminal.
Facts shown
4
| Dimension | Finding | Verified |
|---|---|---|
| Disclosure Quality | Contract address verified on Avalanche: 0x9702230A8Ea53601f5cD2dc00fDBc13d4dF4A8c7 (Avalanche deployment) Address confirmed active onchain. | Jun 13, 2026 |
| Disclosure Quality | Contract address verified on Ethereum: 0xdAC17F958D2ee523a2206206994597C13D831ec7 (primary deployment) Address confirmed active onchain. | Jun 13, 2026 |
| Disclosure Quality | Contract address verified on Solana: Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB (Solana deployment) Address confirmed active onchain. | Jun 13, 2026 |
| Disclosure Quality | Contract address verified on Chain 1103: TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t (Chain 1103 deployment) Address confirmed active onchain. | Jun 13, 2026 |
Cite this rating
Reference USDT’s rating
Every rating carries its methodology version and a stable permalink, so a citation stays accurate after a later rescoring run.
OnChain Benchmark (2026). USDT Quality Rating: 65.3/100 (Developing), as of Oct 11, 2026. Methodology v1.5-stablecoin. https://onchainbenchmark.com/instruments/usdt
OnChain Benchmark (2026) 'USDT Quality Rating', OnChain Benchmark, Developing, 65.3/100, methodology v1.5-stablecoin. Available at: https://onchainbenchmark.com/instruments/usdt (Accessed: Oct 11, 2026).
@misc{ocb_usdt_2026,
author = {{OnChain Benchmark}},
title = {{USDT Quality Rating}},
year = {2026},
note = {65.3/100, Developing, methodology v1.5-stablecoin},
url = {https://onchainbenchmark.com/instruments/usdt}
}The interactive terminal shows every verified fact behind USDT's rating — the dimension-by-dimension breakdown, scoring history, outstanding supply, anomalies, and the complete evidence trail with sources.