Stablecoin issuers

99 issuers across 30 jurisdictions. 17 of them issue more than one stablecoin, which a plain list of stablecoins hides: a single issuer running a fourteen-currency roster is a different proposition from fourteen separate issuers.

Each page carries the entity behind the brand rather than the brand alone, because the regulated issuer is usually a subsidiary and it is the subsidiary that holds the licence.

IssuerIssuer formSupply90dCoinsChainsCurrenciesDiscloses
TetherNon-bank company$178.8B-2.3%2352Yes
CircleNon-bank company$71.6B-1.1%2472Yes
SkyProtocol$11.0B-2.4%281Yes
PaxosTrust company$5.6B-9.3%3101Yes
EthenaNon-bank company$4.6B+18.3%1201Yes
BitGoTrust company$3.9B-3.1%1111Yes
RippleTrust company$2.6B+54.8%161Yes
Anchorage DigitalTrust company$1.9B+13.5%341Yes
Falcon FinanceNon-bank company$1.7B+32.6%121Yes
United StablesNon-bank company$1.6B+45.4%141Yes
TRON DAO ReserveProtocol$1.3B+0.8%131Yes
BridgeNon-bank company$1.1B—371—
Aave (GHO)Protocol$698.0M+7.7%141Yes
Old Vector (A7A5)Non-bank company$566.4M—121Yes
UsualProtocol$541.0M-2.1%121—
Techteryx (TrueUSD)Non-bank company$494.1M+0.3%141Yes
Polymarket (pUSD)Protocol$479.3M-1.2%111Yes
SoFiBank$300.4M-3.5%121—
First Digital LabsNon-bank company$299.4M-14.3%141Yes
ApyxNon-bank company$284.7M-4.8%111Yes
FraxProtocol$219.6M-9.4%371Yes
M0Protocol$217.6M—121—
SG-FORGEBank$206.1M+23.6%242Yes
Solstice LabsNon-bank company$201.4M-61.0%111Yes
AgoraNon-bank company$175.9M-23.3%1111Yes
USD.AIProtocol$168.0M-5.0%131Yes
SBI Shinsei Trust BankBank$162.1M+27.3%111Yes
Curve FinanceProtocol$156.1M-4.0%111—
Avalon LabsProtocol$145.6M-1.7%191—
Avant ProtocolNon-bank company$114.8M-5.9%111Yes
Inverse FinanceProtocol$112.6M+12.0%151Yes
RiverProtocol$87.1M-45.0%1101—
OndoNon-bank company$78.9M-5.1%131—
f(x) ProtocolProtocol$77.5M+23.1%121—
Cygnus FinanceNon-bank company$75.6M—111—
Lista DAOProtocol$73.9M-1.3%111Yes
CapProtocol$66.7M-18.1%111Yes
LiquityProtocol$61.2M+5.8%261—
UnitasNon-bank company$52.3M-0.5%121Yes
StraitsXNon-bank company$49.1M-18.3%393Yes
Fidelity Digital AssetsTrust company$46.8M-4.2%111Yes
ResupplyProtocol$46.4M+42.7%111Yes
FrankencoinProtocol$42.6M+0.9%181Yes
Jupiter (jupUSD)Non-bank company$39.0M-26.3%111Yes
NoonNon-bank company$38.6M+12.8%131Yes
Banking CircleBank$36.6M-4.2%121Yes
GeminiTrust company$35.6M-7.8%111—
AegisNon-bank company$34.6M-3.8%131Yes
Universal DigitalNon-bank company$30.8M+19.9%111—
AveniaNon-bank company$29.8M+5.7%141Yes
MezoProtocol$29.1M-5.2%131Yes
MoneriumNon-bank company$29.1M-9.7%171—
BCP Technologies (Tokenised GBP)Non-bank company$26.6M-22.7%181Yes
ReserveProtocol$25.6M+4.9%231Yes
JPYCNon-bank company$18.9M+11.7%141—
MentoProtocol$18.6M-11.8%15215Yes
GAIBNon-bank company$16.0M-20.3%141Yes
Schuman FinancialNon-bank company$15.6M+7.3%161Yes
QuantozNon-bank company$13.8M-4.4%232Yes
RipioNon-bank company$13.6M+97.7%676Yes
OpenEdenNon-bank company$12.7M—131Yes
TransferoNon-bank company$12.4M—151Yes
AlchemixProtocol$12.3M+6.2%141—
Twin (formerly Num Finance)Non-bank company$11.0M—727Yes
FelixProtocol$8.6M-23.4%111Yes
BlastProtocol$8.6M—111—
StandXNon-bank company$7.9M-89.9%121—
STASISNon-bank company$7.8M-5.8%151Yes
Anzen FinanceNon-bank company$7.5M-5.6%151Yes
AUDD (Novatti)Non-bank company$6.7M-43.7%181Yes
Berachain FoundationProtocol$6.0M—111—
ZARP StablecoinNon-bank company$4.7M—141Yes
Forte AUDNon-bank company$3.7M+6.7%131Yes
cNGN (WrappedCBDC / Africa Stablecoin Consortium)Non-bank company$3.6M—181Yes
APACXNon-bank company$3.5M-3.7%131Yes
AgantNon-bank company$2.5M—131—
VNX Global Ltd.Non-bank company$2.4M+2.9%272Yes
BiLiraNon-bank company$2.2M-71.9%181Yes
MacropodNon-bank company$1.8M-18.7%131Yes
StablecorpNon-bank company$1.8M+50.8%121Yes
AngleProtocol$1.6M-16.8%151Yes
Loon (CADC)Non-bank company$1.6M-6.3%151Yes
Tetra TrustTrust company$1.5M—131Yes
dEUROProtocol$1.3M-23.7%151Yes
MinteoNon-bank company$1.3M—131Yes
Parallel ProtocolProtocol$1.3M-2.5%131—
BraleNon-bank company$473.9K—131Yes
Yamato ProtocolProtocol$462.8K—111Yes
NewrailsNon-bank company$313.5K—101—
AllUnityNon-bank company$296.3K-73.7%141Yes
Asymmetry FinanceProtocol$193.9K—111Yes
Linkio (NGNC)Non-bank company$76.4K—141Yes
HLiquityProtocol$57.9K—111—
Anchored CoinsNon-bank company$41.6K-96.3%121Yes
ARYZENon-bank company$29.3K—262—
3A DAOProtocol$22.8K—121—
HyperstableProtocol$15.5K—111—
Alternity ProtocolProtocol$3.6K—111—
Coins.phNon-bank company$3.3K—121Yes
Moneta DigitalNon-bank companySupply not priced—000—

Showing 25 of 100.

Only issuers with at least one active stablecoin appear here. A stablecoin with no measured supply stays listed, marked “Supply not read” or “Supply not priced”, and is left out of every count. Ordered by supply, then roster size. The 90d column reads circulating-supply history from aggregated market data; an issuer whose recorded history does not cover its current supply shows no figure rather than a wrong one. Growth is left blank where supply at the start of the window was under $1M.

Verify what backs a stablecoin

DIA Value computes intrinsic fair value for stablecoins from reserves and on-chain data, so backing and peg health can be verified.