Is USDtb (USDTB) Halal or Haram?
SUMMARY
USDtb is a fiat-pegged stablecoin that functions as a digital medium of exchange. While the issuer earns interest on the underlying U.S. Treasury reserves, this yield is not distributed to token holders, making the token itself permissible to hold as digital cash.
Holder risks
Someone other than you holds a power over this coin. It puts what you hold at risk, so read it alongside the verdict.
A central party can freeze your coins
Your balance can be blocked or taken without your consent or a court order.
blockAccounts lets a single wallet key (0x8875…5d23) and a single wallet key (0xd938…3956), as admin of BLOCKLISTER_ROLE and so able to appoint itself, block or freeze a chosen holder's tokens.
Read from the Ethereum contract, 30 Sep 2026view contract
A central party can create new coins at will
No fixed rule limits how many coins are issued. Each should be matched by new reserves, so you rely on the issuer to keep that promise.
mint lets a single wallet key (0x3643…e6f3) and a single wallet key (0xd938…3956), as admin of MINTER_BURNER_ROLE and so able to appoint itself, create new tokens, with no cap in the code.
Read from the Ethereum contract, 30 Sep 2026view contract
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How you can hold and use USDTB
Buy & Hold
USDtb is a fully-backed stablecoin used as a medium of exchange, and while the issuer earns interest on the underlying reserves, this yield does not reach token holders.
What the screen checked
Shariah Analysis
Infrastructure — where it runs
PassedThe asset runs on neutral, general-purpose networks (Ethereum, Solana, Aptos, Avalanche, Polygon, BNB Chain) and utilizes Anchorage Digital Bank as a custodian.
Application — what it does
PassedThe project provides a fiat-pegged stablecoin for payments and DeFi collateral, which functions as digital cash for users without operating a lending or gambling business.
Asset — what you own
PassedThe token is used as a stable medium of exchange and store of value, and it is non-yield-bearing by design.
Property Status (Māl)
PassedThe token has genuine lawful use as a medium of exchange, exists on-chain with ascertainable supply, and is recognized as wealth. The holder owns a redemption claim against the named issuer rather than a native protocol position, and its value depends on that issuer's ability and willingness to honour it. On Ethereum, a single wallet key (0x3643…e6f3) and an admin key (0xd938…3956) can mint new supply, while a key (0x8875…5d23) and the admin can freeze holder balances; on Solana, a permanent delegate can move or burn tokens.
Revenue Purity
PassedThe issuer generates revenue from interest yield on U.S. Treasury securities held in reserve, but this income is kept entirely by the issuer and does not reach token holders.
Legitimacy & Security
social presence
CautionNot covered by research.
whitepaper
PassedOfficial documentation and tokenomics are published and available.
project audits
PassedThe project has undergone multiple security audits by top-tier firms including Pashov, Quantstamp, Cyfrin, and Code4rena.
Team & Ecosystem
team background
PassedThe project is developed by Ethena Labs and issued in partnership with Anchorage Digital Bank, providing a known and credible institutional background.
Detailed Shariah Report
USDtb is a fiat-pegged stablecoin that provides a blockchain-based representation of the US Dollar. It functions as a digital medium of exchange, allowing users to send payments, trade assets, and hold dollar-denominated value on-chain.
The Shariah ruling on USDtb is evaluated through a three-layer screen: the underlying infrastructure, the business activity, and the asset itself. First, the infrastructure layer passes because USDtb operates on neutral, general-purpose networks like Ethereum and Solana, which do not inherently violate Shariah principles. Second, the business activity passes because the project simply provides a digital medium of exchange without operating a lending or gambling protocol. Third, the asset qualifies as recognized property (Mal) because it presently exists on-chain, has an ascertainable supply, is transferable, and carries a genuine lawful use. It is important to note that USDtb represents a redemption claim against the issuer rather than a native protocol position. Regarding the verdict matrix, simply buying and holding USDtb is Halal. While the issuer generates revenue by earning interest on the underlying U.S. Treasury reserves, this token is non-yield-bearing by design. Because the interest yield is kept entirely by the issuer and does not flow to the token holders, holding the asset does not expose the user to Riba (usury). There are no opt-in mechanisms like staking or lending native to the protocol that require separate evaluation.
- Functions as a stable, liquid digital medium of exchange for payments and holding dollar-denominated value.
- The token is non-yield-bearing by design, protecting holders from receiving interest (Riba).
- Operates on neutral, general-purpose blockchains (Ethereum, Solana, Aptos, Avalanche, Polygon, BNB Chain).
- !The issuer earns interest on the underlying U.S. Treasury reserves (via BlackRock's BUIDL); while this does not reach holders, scrupulous investors should be aware of the issuer's treasury practices.
- !Holders own a redemption claim against the issuer rather than a trustless native asset, meaning the token's value depends entirely on the issuer's ability and willingness to honor redemptions.
- !The token contract contains centralized administrative controls, including the ability for specific keys to mint new supply, freeze holder balances, or burn tokens.
Because the token is non-yield-bearing and the issuer's interest revenue from U.S. Treasury reserves does not reach token holders, there is no impure income to purify. Simply holding or using USDtb as a medium of exchange requires no purification.
USDtb is a fully-backed, fiat-pegged stablecoin that is permissible to hold and use as digital cash. Although the issuer earns interest on the underlying reserve assets, this yield is not distributed to token holders, keeping the token itself free from Riba. As always, final religious authority rests with a qualified scholar.
How this verdict was reached
This is not an opinion issued by ShariaQuant. It is the output of a documented screening methodology applied to researched facts about USDtb (USDTB), and every row above states the specific evidence that drove it — so the reasoning can be examined rather than taken on trust.
The framework screens three layers — the infrastructure an asset runs on, the application it serves, and the asset itself — and separately tests whether the token qualifies as recognised property (māl): that it presently exists, has an ascertainable supply, can be held and transferred, and carries a genuine lawful use. A failure at any single layer fails the asset.
Revenue-purity thresholds follow the AAOIFI screening standard: non-compliant income below 5% of revenue is tolerated and purified, while 5% or above fails the screen.
The framework follows published scholarship rather than in-house opinion. Treating a digital asset as a right (ḥaqq) that becomes recognised property (māl) only on stated conditions follows “Is Crypto Halal? The Definitive Shariah Guide to Crypto and Digital Assets” by Mufti Faraz Adam (Amanah Advisors, 2026), which reproduces the conditions identified by Mufti Taqi Usmani. Financial thresholds follow the AAOIFI screening standard. The rulings we track are collected in the fatwa library.
AAOIFI has not reviewed, approved or endorsed this report or ShariaQuant, and no scholar named in our methodology has reviewed this individual verdict. This is analysis, not a fatwa — final religious authority rests with a qualified scholar.
This is an AI research platform and the screening engine is under active development. We keep improving how facts are gathered and checked, and a report is re-issued in full when an asset is screened again rather than amended in place.
Check this yourself
Each finding below is quoted word for word from the document it came from, and every quote was checked against that document before this verdict was issued. Open the link and read the sentence in place — you do not have to take ours for it.
5 of 5 decisive claims verified against their source.
- What the holder legally ownsQuote verified
“Unlike many digital assets, USDtb is fully backed by institutional-grade tokenized U.S. treasury fund products (alongside a stablecoin reserve designed to facilitate rapid redemptions) to support stability.”
docs.usdtb.money - Who can create new supplyQuote verified
“Read from the token's verified contract on Ethereum (0xc139190f447e929f090edeb554d95abb8b18ac1c) on 2026-09-30: mint lets a single wallet key (0x3643…e6f3) and a single wallet key (0xd938…3956), as admin of MINTER_BURNER_ROLE and so able to appoint itself, create new tokens, with no cap in the code.”
etherscan.io - Genuine lawful useQuote verified
“USDtb can be used the same way a holder would use any other dollar, whether to send and receive payments, acquire and trade assets, or to simply hold dollars.”
docs.usdtb.money - Share of non-compliant revenueQuote verified
“Unlike many digital assets, USDtb is fully backed by institutional-grade tokenized U.S. treasury fund products (alongside a stablecoin reserve designed to facilitate rapid redemptions) to support stability.”
docs.usdtb.money - Who can freeze a holder's balanceQuote verified
“Read from the token's verified contract on Ethereum (0xc139190f447e929f090edeb554d95abb8b18ac1c) on 2026-09-30: blockAccounts lets a single wallet key (0x8875…5d23) and a single wallet key (0xd938…3956), as admin of BLOCKLISTER_ROLE and so able to appoint itself, block or freeze a chosen holder's tokens.”
etherscan.io
Is USDtb a serious project?
Permissible is not the same as good. This is the research behind that second question — what USDtb is actually for, who is paying for it, what is already built, and what would have to go wrong.
Research on the project, not advice on the trade. A high fundamental score is not a recommendation to buy, and it says nothing about whether the asset is permissible — that is the Shariah verdict, and it is free.
How USDtb ranks against its peers
The Shariah verdict tells you whether you may own USDtb. This tells you what you would be holding — worked out by a fixed formula from public market data, and compared only against assets of the same kind.
A ranking of how solid an asset is against its peers, not a forecast of what it will do next and not investment advice. A permissible asset can rank badly, and a badly ranked asset can still rise.
Asked alongside this
Short answers from the ShariaQuant team.
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