> ## Documentation Index
> Fetch the complete documentation index at: https://docs.hamilton.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Introduction

> What USDh is, who it's for, and where to start reading.

**Hamilton issues USDh, a fully backed digital dollar on Ethereum.** Businesses mint USDh with Hamilton and redeem it, one for one. Once it exists, anyone can hold it, send it or swap it like any other token.

## Start here

| You are | Start with | Then read |
| - | - | - |
| **A business** that wants to mint or redeem | [How it works](https://docs.hamilton.xyz/using-hamilton/minting-and-redeeming-primary-users.md) | [Limits and fees](https://docs.hamilton.xyz/using-hamilton/limits-and-timing.md) · [Company structure](https://docs.hamilton.xyz/legal/legal-structure.md) |
| **Reviewing Hamilton** for due diligence, risk or compliance | [Reserves](https://docs.hamilton.xyz/trust-and-transparency/reserves-and-backing.md) | [Risks](https://docs.hamilton.xyz/trust-and-transparency/risks.md) · [Partners](https://docs.hamilton.xyz/trust-and-transparency/who-we-work-with.md) · [Security](https://docs.hamilton.xyz/trust-and-transparency/security-and-audits.md) |
| **A developer** building with USDh | [Integrate USDh](https://docs.hamilton.xyz/for-developers/integrate-usdh.md) | [Contracts](https://docs.hamilton.xyz/for-developers/contract-addresses.md) · [Verify on-chain](https://docs.hamilton.xyz/trust-and-transparency/check-us-yourself.md) |

## USDh at a glance

| | |
| - | - |
| What it is | A digital dollar, built to stay at one US dollar |
| What backs it | Cash in US dollars, US Treasury bills, and stablecoins backed by Treasury bills |
| Interest | None. USDh pays nothing to the people who hold it |
| Who mints and redeems | Mint Users (businesses that pass Hamilton's checks) and a few approved routes, such as aggregators |
| Who can hold it | Anyone outside the [restricted places](https://docs.hamilton.xyz/using-hamilton/minting-and-redeeming-primary-users.md#who-qualifies). No account needed |
| Issuer | Hamilton Digital Assets Limited (HDA), British Virgin Islands |
| Network | Ethereum |

The issuer and the reserves are kept apart on purpose. HDA issues USDh. A separate company, Publius Reserve Management Limited, manages the reserves. Both are owned by Publius Foundation. See [Company structure](https://docs.hamilton.xyz/legal/legal-structure.md).

Current supply and reserve holdings are on the Transparency page in the [Hamilton app](https://app.hamilton.xyz).

> [!WARNING]
>
> USDh is not a bank deposit, is not insured by any government scheme, and is not an investment product. Its market price can slip below one dollar. See [Risks](https://docs.hamilton.xyz/trust-and-transparency/risks.md).

*These docs are for information only. They are not an offer to sell or a request to buy any asset, and they are not investment, legal or tax advice.*

*Last updated: 10 November 2026*


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.