> For the complete documentation index, see [llms.txt](https://docs.aaable.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.aaable.io/introduction.md). # Introduction ### What is aaaUSD? aaaUSD is a digital dollar (USD stablecoin) issued by Anchorage Digital Bank and powered by the M0 protocol. It is issued in partnership with AAABLE, a primary distribution partner.\ \ aaaUSD is 100% backed by JPMorgan's JLTXX (JPMorgan OnChain Liquidity-Token Money Market Fund).\ \ AAABLE publishes monthly attestation reports for aaaUSD reserve holdings on [aaaUSD's Transparency page](http://aaable.io/trasparency). #### **For cash, collateral, and settlement.** AAABLE developed aaaUSD as a cash leg that does not depend on banking hours, secondary market liquidity, or securities onboarding. aaaUSD inherits the speed, transparency, and programmability of public blockchain infrastructure while remaining 100% backed by JPMorgan-managed reserves and issued under a federal bank charter. Market participants and clearing members use high quality liquid assets (HQLAs) as the cash leg for managing collateral, margin, and onchain settlement.\ Major stablecoins earn nothing. Tokenized money market funds (tMMFs) and other RWAs earn but come with minimums, securities onboarding, and bilateral agreements and redeem slower. \ Legacy cash management is bound by wire windows, correspondent banking delays, and settlement systems that were never designed for 24/7 markets. aaaUSD makes institutional cash programmable, giving treasury desks, collateral managers, prime brokers, and settlement venues a single instrument that earns rewards while posted and settles atomically 24/7/365. Open and permissionless.\ Redeemable 24/7/365, at any size, against a G-SIB balance sheet.\ Rewards earned on posted balances.\ Instant, atomic settlement with no securities onboarding friction. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.aaable.io/introduction.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.