USDK price

USDK is a US dollar-pegged stablecoin launched in 2019 by OKCoin in partnership with Prime Trust, a Nevada-licensed trust company. It exists as an ERC-20 token on Ethereum, built for exchange settlement and value transfers where participants want price stability rather than exposure to crypto market volatility.

The mechanism is straightforward: every USDK in circulation is backed by one US dollar held in custody. The issuer mints tokens when dollars are deposited and redeems them on withdrawal. The token has no staking function, no governance rights, and no utility beyond acting as a stable unit of account.

Around 28.6 million USDK are currently in circulation. There is no hard supply cap — the outstanding amount reflects demand and the size of the reserves, expanding or contracting accordingly. This is typical for fiat-backed stablecoins and is distinct from inflationary token models.

The central risk is centralization: the dollar peg holds only as long as the reserves are fully maintained and the issuer remains operational. Regulatory treatment of stablecoins continues to evolve across jurisdictions, which is a standing consideration for this asset class. USDK's circulating supply is modest compared to USDT or USDC, which generally means lower liquidity across trading venues. Verifying the current status of reserves and the issuer is worth doing before working with the token.