# Anzen Finance > Anzen Finance is a DeFi protocol that issues USDz, a stablecoin backed by a diversified portfolio of institutional-grade real-world assets (RWA). - Canonical URL: https://iq.wiki/wiki/anzen-finance - Categories: Projects & Protocols - Tags: DeFi, Developer, Infrastructure - Created: 2025-07-03T18:50:38.723Z - Last updated: 2025-07-06T03:06:24.629Z - Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki) --- **Anzen Finance** is a [decentralized finance](https://iq.wiki/wiki/defi) (DeFi) protocol that focuses on bringing [real-world assets](https://iq.wiki/wiki/real-world-assets-rwas) (RWA) on-chain, primarily through its RWA-backed [stablecoin](https://iq.wiki/wiki/stablecoin), [USDz](https://iq.wiki/wiki/anzen-usdz). The protocol aims to provide stable yields and utility within the [crypto](https://iq.wiki/wiki/cryptocurrency) ecosystem by collateralizing its [stablecoin](https://iq.wiki/wiki/stablecoin) with institutional-grade private credit assets. Anzen Finance operates on multiple [blockchain](https://iq.wiki/wiki/blockchain) networks, leveraging cross-chain technology to enhance accessibility and composability. [\[1\]](#cite-id-YE8VUdfj3J) [\[2\]](#cite-id-3Jj5tyGW6j) ## **Overview** Anzen Finance was established with the goal of bridging traditional finance (TradFi) and [decentralized finance](https://iq.wiki/wiki/defi) (DeFi) by tokenizing real-world assets. The protocol's core product is [USDz](https://iq.wiki/wiki/anzen-usdz), a [stablecoin](https://iq.wiki/wiki/stablecoin) designed to maintain a stable value relative to the US dollar by being fully backed by a diversified portfolio of cash-flowing, overcollateralized private credit securities. This approach seeks to offer investors yields that are uncorrelated with [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) market volatility. The protocol emphasizes the safety and utility of [USDz](https://iq.wiki/wiki/anzen-usdz). Safety is addressed through the backing by private credit assets that feature protective traits such as [collateral](https://iq.wiki/wiki/collateral) and covenants. Utility is provided by USDz's composability, allowing it to be integrated into various [DeFi](https://iq.wiki/wiki/defi) protocols for activities like trading, lending, and [staking](https://iq.wiki/wiki/staking). Anzen Finance has also introduced its native token, ANZ, which serves a governance function within the ecosystem. Key developments in the Anzen Finance ecosystem included the introduction of an OTC market to empower market makers and strengthen [USDz](https://iq.wiki/wiki/anzen-usdz) stability, the implementation of a dual liquidity system aimed at providing a reliable pathway to convert USDz back to [USDC](https://iq.wiki/wiki/usdc), and the expansion of [collateral](https://iq.wiki/wiki/collateral) backing with institutional fund products. The ANZ token was made claimable in December 2024 following a launchpad event and [airdrop](https://iq.wiki/wiki/airdrop). [\[1\]](#cite-id-YE8VUdfj3J) [\[2\]](#cite-id-3Jj5tyGW6j) [\[3\]](#cite-id-rEwccbbR4O) [\[4\]](#cite-id-BYZ1GXxJwJ) ### **USDz Token** [USDz](https://iq.wiki/wiki/anzen-usdz) is presented as an on-chain dollar token backed by [real-world assets](https://iq.wiki/wiki/real-world-assets-rwas). Its primary function is to serve as a stable store of value and medium of exchange within the [DeFi](https://iq.wiki/wiki/defi) ecosystem, aiming for a price peg of 1 USD [\[1\]](#cite-id-YE8VUdfj3J). The backing of [USDz](https://iq.wiki/wiki/anzen-usdz) consists of a diversified portfolio of institutional-grade private credit securities. This market, particularly in the United States, is noted as a multi-trillion dollar sector offering opportunities for consistent, fixed-rate yields. Specific types of private credit assets mentioned as [collateral](https://iq.wiki/wiki/collateral) include SMB Merchant Receivables, SMB Financing (such as Factored Invoices and PO Financing), Discounted Receivables (like Litigation Finance), Auto Lease Financing, SMB Leases, Secured Mobile App Financing, and Installment Lending. These assets are selected and managed by an established and licensed partner with a history in private credit deals, supported by an executive team with experience from major financial institutions. The stability mechanism for [USDz](https://iq.wiki/wiki/anzen-usdz) relies on [arbitrage](https://iq.wiki/wiki/arbitrage) opportunities on decentralized exchanges. If USDz trades below 1 USD, traders are incentivized to buy it at a discount, creating buying pressure that pushes the price towards the peg. Conversely, if USDz trades above 1 USD, Qualified Market Makers can mint new USDz tokens with Anzen at a 1:1 USDz/USDC ratio and sell them on exchanges, creating selling pressure that helps return the price to 1 USD. This mechanism is intended to keep the market price of USDz close to its 1 USD target. [USDz](https://iq.wiki/wiki/anzen-usdz) is designed to be fully composable, allowing for seamless integration and functionality [across](https://iq.wiki/wiki/across) the crypto ecosystem. Its utility extends to participation in [DeFi](https://iq.wiki/wiki/defi) protocols, trading on decentralized exchanges, and use for payments. [Staking](https://iq.wiki/wiki/staking) opportunities for USDz are available [across](https://iq.wiki/wiki/across) various DeFi platforms, offering holders the potential to earn rewards from the underlying [RWA](https://iq.wiki/wiki/real-world-assets-rwas) yields. [\[1\]](#cite-id-YE8VUdfj3J) ### **ANZ Token** The ANZ token is the native [cryptocurrency](https://iq.wiki/wiki/cryptocurrency) of the Anzen Finance ecosystem. Its primary utility is centered around governance, allowing holders to participate in the decision-making processes related to the protocol. According to data from July 2025, the ANZ token has a total supply and maximum supply capped at 10,000,000,000 tokens. The circulating supply is approximately 851,132,749 tokens. The [market capitalization](https://iq.wiki/wiki/market-capitalization) is calculated based on the current price and the circulating supply. The fully diluted valuation (FDV) represents the theoretical market cap if the entire supply were in circulation. ANZ tokens can be traded on decentralized exchanges. Prominent exchanges where ANZ is traded include [Aerodrome](https://iq.wiki/wiki/aerodrome-finance) ([Base](https://iq.wiki/wiki/base)) and [Uniswap](https://iq.wiki/wiki/uniswap) V3 ([Base](https://iq.wiki/wiki/base)), typically paired with [WETH](https://iq.wiki/wiki/weth-wrapped-eth). [\[2\]](#cite-id-3Jj5tyGW6j) [\[3\]](#cite-id-rEwccbbR4O) [\[4\]](#cite-id-BYZ1GXxJwJ) [\[5\]](#cite-id-UOEUjiHbhj) ## **Technology** Anzen Finance utilizes smart contracts to manage the [USDz](https://iq.wiki/wiki/anzen-usdz) [stablecoin](https://iq.wiki/wiki/stablecoin) and the underlying protocol operations. These [smart contracts](https://iq.wiki/wiki/smart-contract) have undergone security audits by multiple firms, including Zellic, Peckshield, and Halborn, with audit reports available for review [\[1\]](#cite-id-YE8VUdfj3J). The [USDz](https://iq.wiki/wiki/anzen-usdz) token is compatible with [LayerZero's](https://iq.wiki/wiki/layerzero) Omnichain Fungible Token (OFT) standard. This compatibility enables USDz to be bridged between different [blockchain](https://iq.wiki/wiki/blockchain) networks, facilitating its use [across](https://iq.wiki/wiki/across) a wider range of ecosystems as an omnichain [stablecoin](https://iq.wiki/wiki/stablecoin). Bridging can be performed directly through the Anzen website, with transactions typically taking a few minutes [\[1\]](#cite-id-YE8VUdfj3J). It is noted that the ANZ token contract is a proxy contract. This type of contract allows the contract owner to make code changes, which could include modifications to functionalities such as disabling sells, changing [fees](https://iq.wiki/wiki/transaction-fee), or [minting](https://iq.wiki/wiki/minting) and transferring tokens. Users are advised to exercise caution due to the potential for contract modifications by the owner. [\[2\]](#cite-id-3Jj5tyGW6j) ## **Use Cases** The primary use cases for Anzen Finance and its [USDz](https://iq.wiki/wiki/anzen-usdz) token revolve around providing stable, [RWA](https://iq.wiki/wiki/real-world-assets-rwas)-backed yields and facilitating participation within the broader [DeFi](https://iq.wiki/wiki/defi) ecosystem. 1. **Staking and Yield Generation:** Holders can stake [USDz](https://iq.wiki/wiki/anzen-usdz) on various [DeFi](https://iq.wiki/wiki/defi) platforms to earn rewards derived from the yields generated by the underlying private credit assets. These yields are described as uncorrelated with [crypto](https://iq.wiki/wiki/cryptocurrency) market exposure and non-cyclical. 2. **DeFi Integration:** [USDz's](https://iq.wiki/wiki/anzen-usdz) composability allows it to be used [across](https://iq.wiki/wiki/across) a wide range of [DeFi](https://iq.wiki/wiki/defi) protocols for activities such as lending, borrowing, and [yield farming](https://iq.wiki/wiki/yield-farming). This enables holders to optimize their portfolios and [leverage](https://iq.wiki/wiki/leverage) the stability of USDz within [decentralized applications](https://iq.wiki/wiki/decentralized-application). 3. **Trading:** [USDz](https://iq.wiki/wiki/anzen-usdz) can be traded on decentralized exchanges, providing liquidity and enabling users to swap it for other [cryptocurrencies](https://iq.wiki/wiki/cryptocurrency), including [stablecoins](https://iq.wiki/wiki/stablecoin) like [USDC](https://iq.wiki/wiki/usdc) and [USDT](https://iq.wiki/wiki/tether). 4. **Payments:** As a [stablecoin](https://iq.wiki/wiki/stablecoin), [USDz](https://iq.wiki/wiki/anzen-usdz) can be used for payments within the [crypto](https://iq.wiki/wiki/cryptocurrency) ecosystem, benefiting from its stability and potential for widespread acceptance. [\[2\]](#cite-id-3Jj5tyGW6j) [\[3\]](#cite-id-rEwccbbR4O) [\[1\]](#cite-id-YE8VUdfj3J) **Partnerships and Backers** Anzen Finance has established partnerships and received backing from various entities within the [blockchain](https://iq.wiki/wiki/blockchain) and traditional finance sectors. The protocol lists several partners within its ecosystem, including [Aerodrome](https://iq.wiki/wiki/aerodrome-finance), [Beefy Finance](https://iq.wiki/wiki/beefyfinance), [Base](https://iq.wiki/wiki/base), [Circle](https://iq.wiki/wiki/circle), Movement Labs, and Extra Finance. The project is also supported by a group of investors and backers, including [Circle](https://iq.wiki/wiki/circle) Ventures, Mechanism Capital, [Frax Finance](https://iq.wiki/wiki/frax-finance), Tribe Capital, Infinity Ventures, and other venture capital firms and angel investors. The collaboration with an established and licensed partner for underwriting and custody of private credit assets is also a key relationship. [\[1\]](#cite-id-YE8VUdfj3J) [\[2\]](#cite-id-3Jj5tyGW6j) **Audits** Anzen Finance's [smart contracts](https://iq.wiki/wiki/smart-contract) have undergone security audits by independent firms to assess their robustness and identify potential vulnerabilities. The protocol lists Zellic, Peckshield, and Halborn as auditors that have reviewed its smart contracts. Audit reports are available for public access. [\[1\]](#cite-id-YE8VUdfj3J)