Custodian Attestations of Assets Backing USDh: May 2026

3 min readJun 1, 2026

To provide transparency into the USDh protocol’s backing assets, we are sharing our May 2026 attestation report from all integrated custodians. The report verifies that the assets backing USDh reside off-exchange within institutional custodial solutions.

Attestation reports are released monthly to provide regular updates on the amount and location of the assets backing the protocol.

As of 15:00 UTC May 20, 2026, USDh supply was $9,458,346.15 per the sources below.

9,458,346.15 USDh on Stacks per the Stacks explorer link: https://explorer.hiro.so/token/SPN5AKG35QZSK2M8GAMR4AFX45659RJHDW353HSG.usdh-token-v1?chain=mainnet

USDh on Runes was sunset on May 15, 2026. As a result, USDh on Runes deployment is no longer active and has been excluded from this attestation report. The USDh supply, backing assets, custodian balances, and reserve figures presented below reflect only the active USDh deployment on Stacks as of the snapshot time.

$3,156,602.70 has been verified to be held within solutions offered by Copper as of 15:00 UTC May 20, 2026, including unrealized P&L.

At 15:00 UTC May 20, 2026, there was $122,699.40 in the Redeeming Reserve on Stacks, $6,194,934.68 in the Ethereum Settlement Wallet, $0.00 in the Mint Wallet, and $103,846.18 in the Reserve Fund.

Redeeming Reserve Stacks: SPN5AKG35QZSK2M8GAMR4AFX45659RJHDW353HSG.redeeming-reserve-v1–2
Ethereum Settlement Wallet: 0xdDf6954BA51958DB59f32369309212aa0735a60e
Mint Wallet: 0x6aA30bB7C64F43a3316d5E522ce01096557E5891
Reserve Fund: 0xB7Fc1162B65a4a01F0924dDa980D52B629fEa9a6

The 5,625,013.47 sUSDat in the Ethereum Settlement Wallet was worth $5,640,600.38. sUSDat total supply was 104,036,544.13 backed by 888,220.58 STRC (84.7%) worth $88,129,245.74 and 16,978,875.80 USDat (16.3%) worth $16,978,875.80, per the Ethereum explorer link: https://etherscan.io/address/0xD166337499E176bbC38a1FBd113Ab144e5bd2Df7#readProxyContract