{"catalog":{"title":"Stablecoin register: issuers, reserves and redemption","path":"/stablecoin-list","updatedAt":"2026-09-29T20:41:16.187Z","fields":[{"id":"ticker","label":"Ticker","type":"text"},{"id":"token_name","label":"Token name","type":"text"},{"id":"brand","label":"Brand","type":"text"},{"id":"issuer","label":"Issuer","type":"text"},{"id":"peg","label":"Pegged to","type":"select","options":["US dollar","Euro","Singapore dollar"]},{"id":"type","label":"Type","type":"select","options":["Fiat-backed","Crypto-collateralized","Synthetic (hedged derivatives)"]},{"id":"launched","label":"Launched","type":"text"},{"id":"mica_emt","label":"E-money token under MiCA","type":"select","options":["Yes","No"]},{"id":"regulation","label":"Regulation","type":"textarea"},{"id":"genius","label":"GENIUS Act","type":"text"},{"id":"reserves","label":"Reserves","type":"textarea"},{"id":"attestation_firm","label":"Accounting firm or verifier","type":"text"},{"id":"report_frequency","label":"Reserve reporting","type":"text"},{"id":"latest_report","label":"Latest reserve report","type":"text"},{"id":"report_url","label":"Latest report","type":"url"},{"id":"supply","label":"Supply","type":"text"},{"id":"supply_m","label":"Supply, millions of tokens","type":"number","format":{"style":"decimal","maximumFractionDigits":1}},{"id":"supply_as_of","label":"Supply as of","type":"text"},{"id":"redemption","label":"Redemption","type":"textarea"},{"id":"chains","label":"Networks (native issuance)","type":"textarea"},{"id":"chain_count","label":"Number of networks","type":"number","format":{"style":"integer"}},{"id":"website","label":"Website","type":"url"},{"id":"transparency_url","label":"Transparency page","type":"url"},{"id":"checked","label":"Checked on","type":"date"},{"id":"sources","label":"Sources","type":"textarea"}]},"category":{"slug":"us-dollar","title":"US dollar stablecoins","path":"/stablecoin-list/category/us-dollar"},"entries":[{"slug":"usdt","name":"USDT (Tether)","path":"/stablecoin-list/usdt","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:37:28.491Z","fields":{"ticker":"USDT","token_name":"Tether USD₮","brand":"Tether","issuer":"Tether International, S.A. de C.V. (El Salvador)","peg":"US dollar","type":"Fiat-backed","launched":"2014 (Tether platform launch)","mica_emt":"No","regulation":"Stablecoin issuer authorized by El Salvador's National Commission of Digital Assets (CNAD); Tether tokens are registered in the CNAD public registry\nDigital asset service provider authorized by CNAD (registration PSAD-0028)","genius":null,"reserves":"Total reserves of $187.75 billion on June 30, 2026, against liabilities of $183.64 billion. The largest items were US Treasury bills ($114.96 billion), reverse repurchase agreements ($25.62 billion), precious metals ($18.84 billion), secured loans ($13.45 billion), bitcoin ($5.80 billion) and public equities ($3.76 billion).","attestation_firm":"BDO","report_frequency":"Quarterly, with circulation figures published daily","latest_report":"June 30, 2026","report_url":"https://assets.ctfassets.net/vyse88cgwfbl/2kYf7r64h3tzwiu6F0CbUB/2997abd2f11ecea74a21528048b50707/Opinion___Report_-_Tether_International_Financial_Figure_30-06-2026.pdf","supply":"183,790,409,137 USDT net circulation","supply_m":183790.4,"supply_as_of":"September 28, 2026","redemption":"Only verified customers of Tether International can redeem, through app.tether.to. The minimum purchase or redemption is $100,000. Redemptions cost the greater of $1,000 or 0.1%, purchases 0.1%, and account verification a one-time 150 USDT.","chains":"Ethereum, Tron, Solana, Avalanche, Aptos, TON, Near, Celo, Kaia, Cosmos (Kava), Liquid, Polkadot Asset Hub, Tezos","chain_count":13,"website":"https://tether.to","transparency_url":"https://tether.to/en/transparency/","checked":"2026-09-29","sources":"Tether transparency page (circulation) · https://tether.to/en/transparency/\nTether transparency data feed (JSON behind transparency page) · https://app.tether.to/transparency.json\nTether fees page · https://tether.to/en/fees/\nTether supported protocols · https://tether.to/en/supported-protocols/\nRelevant Information Document (CNAD), 20 Feb 2026 · https://tether.to/public/Relevant_Information_Document_-_Tether_International,_S.A._de_C.V..pdf\nBDO assurance report + Financial Figures & Reserves Report, 30 Jun 2026 · https://assets.ctfassets.net/vyse88cgwfbl/2kYf7r64h3tzwiu6F0CbUB/2997abd2f11ecea74a21528048b50707/Opinion___Report_-_Tether_International_Financial_Figure_30-06-2026.pdf\nTether Q2 2026 attestation announcement (tether.io, 31 Jul 2026) · https://tether.io/news/tether-posts-strong-q2-performance-generates-1-5b-net-operating-profit-maintains-4-11b-reserve-buffer-and-expands-gold-holdings-to-more-than-146-tons/\nCNAD list of stablecoins eligible for trading · https://cnad.gob.sv/stablecoins-eligible-for-trading/\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usdc","name":"USDC (Circle)","path":"/stablecoin-list/usdc","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:37:49.014Z","fields":{"ticker":"USDC","token_name":"USD Coin","brand":"Circle","issuer":"Circle Internet Financial, LLC (outside the EEA); Circle Internet Financial Europe SAS (EEA)","peg":"US dollar","type":"Fiat-backed","launched":"September 2018","mica_emt":"Yes","regulation":"US: regulated as stored value under state money transmission laws (NMLS #1201441); Circle holds a New York limited purpose trust charter\nEEA: Circle Internet Financial Europe SAS is an electronic money institution licensed by France's ACPR, and USDC is an e-money token under MiCA\nOCC: final approval for First National Digital Currency Bank, N.A., announced July 10, 2026","genius":null,"reserves":"Reserve assets of $73.40 billion on August 31, 2026: $62.32 billion in the Circle Reserve Fund, a government money market fund managed by BlackRock, and $9.59 billion in cash at regulated financial institutions.","attestation_firm":null,"report_frequency":"Weekly reserve disclosure and monthly independent examination","latest_report":"August 31, 2026","report_url":"https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/USDCAttestationReports/2026/2026%20USDC_Examination%20Report%20August%2026.pdf","supply":"74,658,912,094 USDC","supply_m":74658.9,"supply_as_of":"September 29, 2026","redemption":"Outside the EEA, holders with a Circle Mint account can redeem 1 USDC for $1. In the EEA every holder has a right under MiCA to redeem at par at any time, businesses through Circle Mint and individuals through a request form, with no minimum amount.","chains":"Ethereum, Solana, Base, Arbitrum One, Avalanche C-Chain, OP Mainnet, Polygon PoS, Stellar, Sui, Aptos, Algorand, Hedera, NEAR, Noble, Linea, ZKsync Era, Unichain, Worldchain, Sei, Sonic, Starknet, Celo, Cronos, Ink, Monad, Plasma, Plume, Polkadot Asset Hub, XDC, X Layer, Arc, Codex, EDGE Chain, HyperEVM, Injective, Morph, Pharos","chain_count":37,"website":"https://www.circle.com/usdc","transparency_url":"https://www.circle.com/transparency","checked":"2026-09-29","sources":"Circle transparency page · https://www.circle.com/transparency\nCircle stablecoins API (supply by chain) · https://api.circle.com/v1/stablecoins\nUSDC examination report, August 2026 · https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/USDCAttestationReports/2026/2026%20USDC_Examination%20Report%20August%2026.pdf\nUSDC Terms · https://www.circle.com/legal/usdc-terms\nCircle licenses · https://www.circle.com/legal/licenses\nMiCA USDC White Paper · https://www.circle.com/legal/mica-usdc-whitepaper\nMiCA Redemption Policy · https://www.circle.com/legal/mica-redemption-policy\nEEA Terms of Use · https://www.circle.com/legal/eea-terms\nCircle press: final OCC approval, 10 Jul 2026 · https://www.circle.com/pressroom/circle-receives-final-occ-approval-to-establish-national-trust-bank\nOCC conditional approval letter, 12 Dec 2025 · https://occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125a.pdf\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usd1","name":"USD1 (World Liberty Financial)","path":"/stablecoin-list/usd1","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:39:26.778Z","fields":{"ticker":"USD1","token_name":"USD1","brand":"World Liberty Financial","issuer":"BitGo Bank & Trust, N.A.","peg":"US dollar","type":"Fiat-backed","launched":null,"mica_emt":"No","regulation":"Issued by BitGo Bank & Trust, N.A., a national trust bank chartered and supervised by the OCC","genius":null,"reserves":"Redemption assets of $4.20 billion on August 31, 2026: $1.13 billion in deposits at US banks and $3.07 billion in a government money market fund.","attestation_firm":"KPMG LLP","report_frequency":"Monthly","latest_report":"August 31, 2026","report_url":"https://landing.bitgo.com/rs/552-OGK-141/images/USD1_Reserve_Attestation_Report_August_2026.pdf?version=0","supply":"4,195,303,689 USD1","supply_m":4195.3,"supply_as_of":"August 31, 2026","redemption":"Only registered BitGo clients in good standing can mint and redeem, from $100 to $100 million per transaction. Fees depend on the asset and are shown in the platform.","chains":"Ethereum, BNB Smart Chain, Solana, Tron, Aptos, Tempo","chain_count":6,"website":"https://worldlibertyfinancial.com/usd1","transparency_url":"https://www.bitgo.com/usd1/attestations/","checked":"2026-09-29","sources":"BitGo - USD1 Attestations · https://www.bitgo.com/usd1/attestations/\nUSD1 Reserve Attestation Report August 2026 (KPMG) · https://landing.bitgo.com/rs/552-OGK-141/images/USD1_Reserve_Attestation_Report_August_2026.pdf?version=0\nUSD1 Reserve Attestation Report June 2026 · http://landing.bitgo.com/rs/552-OGK-141/images/USD1_Reserve_Attestation_Report_June_2026.pdf\nUSD1 Reserve Attestation Report December 2025 · https://landing.bitgo.com/rs/552-OGK-141/images/USD1_Reserve_Attestation_Report_December_2025.pdf?version=0\nWLF docs - What is USD1 · https://docs.worldlibertyfinancial.com/usd1-token/what-is-usd1\nWLF docs - Attestation reports · https://docs.worldlibertyfinancial.com/usd1-token/attestation-reports\nWLF docs - Proof of Reserves · https://docs.worldlibertyfinancial.com/usd1-token/proof-of-reserves\nBitGo Coin Minting & Redemption Services Terms · https://www.bitgo.com/legal/bitgo-coin-minting-services-terms/\nBitGo Additional Terms · https://www.bitgo.com/legal/bitgo-additional-terms/\nBitGo Resource Center - BitGo Mint · https://support.bitgo.com/support/solutions/articles/158000440951-bitgo-mint\nBitGo - Stablecoin Reserves · https://www.bitgo.com/stablecoin-reserves/\nOCC Corporate Decision 1392 (lists BitGo Bank & Trust conditional approval CA 1353, Dec 12 2025) · https://www.occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1392.pdf\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"rlusd","name":"RLUSD (Ripple)","path":"/stablecoin-list/rlusd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:39:43.267Z","fields":{"ticker":"RLUSD","token_name":"Ripple USD","brand":"Ripple","issuer":"Standard Custody & Trust Company, LLC (a Ripple subsidiary)","peg":"US dollar","type":"Fiat-backed","launched":"December 2024","mica_emt":"No","regulation":"New York limited purpose trust company charter (NYDFS)\nRipple states RLUSD is also approved by the Dubai Financial Services Authority\nOCC preliminary conditional approval for Ripple National Trust Bank (December 12, 2025)","genius":null,"reserves":"US dollar deposits, short-term US Treasuries and cash equivalents in segregated accounts. On August 31, 2026 reserves had a market value of $2.45 billion against 2.33 billion RLUSD outstanding.","attestation_firm":null,"report_frequency":"Monthly (two report dates per month)","latest_report":"August 31, 2026","report_url":"https://cdn.sanity.io/files/ior4a5y3/production/4981331c98a2bb203c0c9ab2584e8b2a0da80938.pdf/RLUSD%20Attestation%20Report%20(Aug)_Final%20Signed.pdf","supply":"2.409 billion RLUSD","supply_m":2409,"supply_as_of":"September 24, 2026","redemption":"Only onboarded institutional customers can buy and redeem directly, at $1 per RLUSD less fees. Ripple does not publish the fee or a minimum.","chains":"XRP Ledger, Ethereum, Base, Unichain, Optimism, Ink, XRPL EVM Sidechain","chain_count":7,"website":"https://ripple.com/solutions/stablecoin/","transparency_url":"https://ripple.com/solutions/stablecoin/transparency/","checked":"2026-09-29","sources":"Ripple - RLUSD Reserve Assets and Transparency Reports · https://ripple.com/solutions/stablecoin/transparency/\nRipple - RLUSD product page and FAQ · https://ripple.com/solutions/stablecoin/\nRLUSD Reserve Report August 2026 · https://cdn.sanity.io/files/ior4a5y3/production/4981331c98a2bb203c0c9ab2584e8b2a0da80938.pdf/RLUSD%20Attestation%20Report%20(Aug)_Final%20Signed.pdf\nRLUSD Stablecoin User Terms · https://ripple.com/legal/stablecoin/\nRipple docs - RLUSD · https://docs.ripple.com/products/stablecoin/overview/rlusd\nRipple Insights - What actually makes a stablecoin regulated (2026-09-11) · https://ripple.com/insights/what-actually-makes-a-stablecoin-regulated-a-guide-for-institutions-evaluating-rlusd/\nRipple press - federal approval to establish national trust bank (2025-12-12) · https://ripple.com/ripple-press/ripple-secures-federal-approval-to-establish-national-trust-bank/\nOCC Conditional Approval #1359 - Ripple National Trust Bank · https://www.comptrollerofthecurrency.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/ca1359.pdf\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"fdusd","name":"FDUSD (First Digital)","path":"/stablecoin-list/fdusd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:39:16.731Z","fields":{"ticker":"FDUSD","token_name":"First Digital USD","brand":"First Digital","issuer":"FD121 (BVI) Limited","peg":"US dollar","type":"Fiat-backed","launched":"June 2023","mica_emt":"No","regulation":"No issuer licence stated; First Digital Labs says it is working to secure regulatory authorization\nReserve custodian First Digital Trust Limited is a licensed trust and company service provider in Hong Kong","genius":null,"reserves":"Short-dated US Treasury bills, overnight reverse repos, fixed deposits and cash, held by First Digital Trust Limited in segregated accounts.","attestation_firm":"AOGB CPA Limited","report_frequency":"Monthly","latest_report":"August 31, 2026","report_url":"https://cdn.prod.website-files.com/675ab99bf1f7ea944d49a55b/6aa8fb9c867332b394838288_Attestation%20Report%20on%20Reserves%20Account%20August%202026.pdf","supply":"335,636,418 FDUSD","supply_m":335.6,"supply_as_of":"August 31, 2026","redemption":"Only onboarded institutional clients can mint and redeem; there is no retail sale. First Digital advertises zero-fee minting and redemption as long as a client mints more than it redeems.","chains":"Ethereum, BNB Chain, Solana, Sui","chain_count":4,"website":"https://firstdigitallabs.com/fdusd","transparency_url":"https://firstdigitallabs.com/transparency","checked":"2026-09-29","sources":"First Digital Labs - Transparency · https://firstdigitallabs.com/transparency\nFirst Digital Labs - FDUSD page · https://firstdigitallabs.com/fdusd\nAOGB CPA attestation report, 31 Aug 2026 · https://cdn.prod.website-files.com/675ab99bf1f7ea944d49a55b/6aa8fb9c867332b394838288_Attestation%20Report%20on%20Reserves%20Account%20August%202026.pdf\nFirst Digital Labs - FDUSD transitions to BVI-based issuance · https://www.firstdigitallabs.com/news-and-insights/fdusd-transitions-to-bvi-based-issuance-structure\nFDD Terms · https://firstdigitallabs.com/legal/fdd-terms\nFDUSD Stablecoin White Paper · https://cdn.prod.website-files.com/67343e8ae0825a566f704bb0/688c83dec8de1e42ed3d0194_FDL%20Whitepaper.pdf\nFirst Digital press release (PR Newswire), 1 June 2023 · https://www.prnewswire.com/news-releases/first-digital-group-is-propelling-digital-asset-innovation-with-the-launch-of-its-new-stablecoin-fdusd-bridging-stability-with-innovation-to-revolutionise-the-existing-global-financial-landscape-301839437.html\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usat","name":"USAT (Tether and Anchorage Digital)","path":"/stablecoin-list/usat","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:37:37.245Z","fields":{"ticker":"USAT","token_name":"USA₮","brand":"Tether and Anchorage Digital","issuer":"Anchorage Digital Bank, National Association","peg":"US dollar","type":"Fiat-backed","launched":"January 27, 2026","mica_emt":"No","regulation":"Issued by Anchorage Digital Bank, a federally chartered national trust bank supervised by the Office of the Comptroller of the Currency (OCC)","genius":"Issuer states USA₮ is subject to the requirements of the GENIUS Act","reserves":"Reserves of $175.9 million on July 31, 2026: $17.5 million in demand deposits at FDIC-insured banks and $158.4 million in reverse repurchase agreements collateralized by US Treasuries, held in segregated trust accounts.","attestation_firm":"Deloitte & Touche LLP","report_frequency":"Monthly","latest_report":"July 31, 2026","report_url":"https://learn.anchorage.com/07.31.26_USAT-Stablecoin-Attestation-Report-signed.pdf","supply":"175,245,527 USAT outstanding","supply_m":175.2,"supply_as_of":"July 31, 2026","redemption":"Only clients of Anchorage Digital Bank can redeem directly, at $1.00 per token net of fees in the USAT fee schedule.","chains":"Ethereum, Celo","chain_count":2,"website":"https://usat.io","transparency_url":"https://www.anchorage.com/platform/usat-reserve-attestations","checked":"2026-09-29","sources":"USA₮ reserve attestations (Anchorage) · https://www.anchorage.com/platform/usat-reserve-attestations\nUSAT July 2026 attestation report · https://learn.anchorage.com/07.31.26_USAT-Stablecoin-Attestation-Report-signed.pdf\nUSA₮ FAQ · https://usat.io/faq\nUSA₮ homepage · https://usat.io\nStatement of USAT Policies and Disclosures · https://www.anchorage.com/usat-policies-disclosures\nCovered Stablecoin Service Fee Schedule · https://www.anchorage.com/anchorage-digital-bank-n-a-covered-stablecoin-service-fee-schedule\nTether launch announcement, 27 Jan 2026 · https://tether.io/news/tether-announces-the-launch-of-usat-the-federally-regulated-dollar-backed-stablecoin-made-in-america/\nAnchorage: Anchorage Digital and Tether introduce USA₮ · https://www.anchorage.com/insights/anchorage-digital-tether-introduce-usat\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"frxusd","name":"frxUSD (Frax)","path":"/stablecoin-list/frxusd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:40:10.809Z","fields":{"ticker":"frxUSD","token_name":"Frax USD","brand":"Frax","issuer":"Financial Reserves and Asset Exploration Inc. (Frax Inc.), Delaware","peg":"US dollar","type":"Fiat-backed","launched":"January 2, 2025","mica_emt":"No","regulation":"No licence stated; Frax governance proposals say Frax Inc. intends to apply for a US payment stablecoin licence or charter","genius":null,"reserves":"Tokenized cash and Treasury funds, mainly WisdomTree WTGXX ($67.3 million), Superstate USTB ($21.1 million) and BlackRock BUIDL ($15.8 million), plus a bank cash account. Total assets were $106.29 million against $103.28 million of frxUSD on September 29, 2026.","attestation_firm":null,"report_frequency":"Live on-chain balance sheet","latest_report":"Live (September 29, 2026)","report_url":"https://facts.frax.finance/frxusd/balance-sheet","supply":"103,276,190 frxUSD","supply_m":103.3,"supply_as_of":"September 29, 2026","redemption":"Anyone can mint and redeem 1:1 on Ethereum against USDC or USDB through the custodian contracts, while they hold that asset; whitelisted addresses can also use tokenized funds. A fiat off-ramp runs through FraxNet with identity checks.","chains":"Ethereum, Fraxtal, Arbitrum, Base, Optimism, Polygon, Avalanche, BSC, Solana, Linea, Scroll, Sonic, Sei, Unichain, zkSync, Berachain, Ink, Katana, Monad, Plume, Mode, Aurora, Abstract, Stable, XLayer, Polygon zkEVM","chain_count":26,"website":"https://frax.com/frxusd","transparency_url":"https://facts.frax.finance/frxusd/balance-sheet","checked":"2026-09-29","sources":"frxUSD Terms of Service (effective 19 Nov 2025) · https://frax.com/frxusd-terms\nFrax docs: The Frax USD Stablecoin (FIP-432) · https://docs.frax.com/protocol/assets/frxusd/frxusd\nFrax docs: What is frxUSD? · https://docs.frax.com/frxusd\nFrax docs: Mint & Redeem routes and networks · https://docs.frax.com/frxusd/mint-and-redeem-routes\nFrax docs: Fiat on-ramp & off-ramp · https://docs.frax.com/frxusd/fiat-onramp-offramp\nFrax docs: FrxUSDCustodian · https://docs.frax.com/fraxnet/contracts/frxUsdCustodians\nFrax balance-sheet API (latest) · https://api.frax.finance/v2/frxusd/balance-sheet/latest\nFrax Facts frxUSD balance sheet · https://facts.frax.finance/frxusd/balance-sheet\nFIP-432 governance proposal · https://gov.frax.finance/t/fip-432-transfer-of-compliance-collateral-management-of-frxusd-to-frax-inc/3748\nFIP-430 governance proposal · https://gov.frax.finance/t/fip-430-preparation-for-frxusd-payment-stablecoin-charter-compliance/3698\nFrax press release, 2 Jan 2025 (launch) · https://www.prnewswire.com/news-releases/frax-launches-frxusd-stablecoin-backed-by-the-blackrocks-usd-institutional-digital-liquidity-fund-buidl-tokenized-by-securitize-302341497.html\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"sofiusd","name":"SoFiUSD (SoFi)","path":"/stablecoin-list/sofiusd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:40:40.365Z","fields":{"ticker":"SoFiUSD","token_name":"SoFiUSD (ticker SOFID)","brand":"SoFi","issuer":"SoFi Bank, N.A.","peg":"US dollar","type":"Fiat-backed","launched":"December 18, 2025","mica_emt":"No","regulation":"Issued by SoFi Bank, N.A., a national bank regulated by the OCC\nOCC decision of July 23, 2026 approved an operating subsidiary to issue and redeem payment stablecoins, conditioned on conforming to the GENIUS Act","genius":null,"reserves":"SoFi's terms say reserves consist only of high-quality liquid assets such as cash and demand deposits. Its quarterly report shows $52.5 million of SoFiUSD outstanding on June 30, 2026, matched by US dollars held in cash.","attestation_firm":null,"report_frequency":"Regular attestations by an independent CPA (frequency not stated)","latest_report":null,"report_url":null,"supply":"52.5 million SoFiUSD","supply_m":52.5,"supply_as_of":"June 30, 2026","redemption":"Only approved SoFi customers can buy and redeem, at par net of disclosed fees. Holding the token alone gives no direct redemption right, and EEA and UK persons are excluded.","chains":"Ethereum, Solana","chain_count":2,"website":"https://www.sofi.com/crypto/sofiusd/","transparency_url":null,"checked":"2026-09-29","sources":"SoFi SoFiUSD product page · https://www.sofi.com/crypto/sofiusd/\nSOFID Terms of Use (effective 22 Jun 2026) · https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SOFID-Terms-of-Use-6.22.26.pdf\nSoFi press release 18 Dec 2025 (launch) · https://investors.sofi.com/news/news-details/2025/SoFi-Launches-Fully-Reserved-Stablecoin-to-Power-Financial-Infrastructure-for-Banks-Fintechs-and-Enterprise-Partners/\nSoFi press release 27 May 2026 (member launch) · https://investors.sofi.com/news/news-details/2026/SoFiUSD-Becomes-the-First-Stablecoin-Issued-by-a-US-National-Bank-to-Launch-on-a-Banking-Platform/default.aspx\nSoFi support: What is SoFi USD? · https://support.sofi.com/hc/en-us/articles/what-is-sofi-usd\nOCC Corporate Decision #1388 (SoFi Bank op-sub) · https://www.occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1388.pdf\nSoFi Technologies Form 10-Q (Q2 2026) · https://d18rn0p25nwr6d.cloudfront.net/CIK-0001818874/077b61df-f9fd-48dd-8540-e7a989bdc3a8.pdf\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"musd","name":"mUSD (MetaMask)","path":"/stablecoin-list/musd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:40:49.433Z","fields":{"ticker":"mUSD","token_name":"MetaMask USD","brand":"MetaMask","issuer":"Bridge (a Stripe company)","peg":"US dollar","type":"Fiat-backed","launched":"September 2025","mica_emt":"No","regulation":"Bridge Building Inc. is a state-licensed money transmitter (NMLS #2450917)\nOCC preliminary conditional approval for Bridge National Trust Bank (February 12, 2026)","genius":null,"reserves":"Reserve assets of $33.16 million on September 29, 2026, almost entirely in money market funds holding Treasury bills of under three months, 100.13% of supply.","attestation_firm":null,"report_frequency":"Live reserve dashboard","latest_report":"Live (September 29, 2026)","report_url":"https://reserves.bridge.xyz/musd","supply":"33,116,050 mUSD","supply_m":33.1,"supply_as_of":"September 29, 2026","redemption":"MetaMask sells mUSD through its on-ramp; the issuer does not publish mUSD-specific redemption terms.","chains":"Ethereum, Linea, BSC, Monad","chain_count":4,"website":"https://metamask.io/price/metamask-usd","transparency_url":"https://reserves.bridge.xyz/musd","checked":"2026-09-29","sources":"Bridge reserves: MetaMask USD · https://reserves.bridge.xyz/musd\nMetaMask announcement (21 Aug 2025) · https://metamask.io/en-GB/news/metamask-announces-stablecoin-metamask-usd\nMetaMask: Introducing MetaMask USD · https://metamask.io/en-GB/news/introducing-metamask-usd-your-dollar-your-wallet\nMetaMask mUSD page · https://metamask.io/price/metamask-usd\nMetaMask Help Center: mUSD · https://support.metamask.io/manage-crypto/tokens/musd/\nBridge homepage (licensing footer) · https://bridge.xyz/\nOCC Corporate Decision #1365 (Bridge National Trust Bank) · https://www.occ.treas.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1365.pdf\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usdcv","name":"USDCV (Societe Generale-FORGE)","path":"/stablecoin-list/usdcv","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:41:08.568Z","fields":{"ticker":"USDCV","token_name":"USD CoinVertible","brand":"Societe Generale-FORGE","issuer":"Société Générale - FORGE (France)","peg":"US dollar","type":"Fiat-backed","launched":"June 25, 2025","mica_emt":"Yes","regulation":"Electronic money institution authorized by France's ACPR; USDCV is an e-money token under MiCA\nInvestment firm supervised by the ACPR and AMF","genius":null,"reserves":"Segregated collateral in US dollar cash and liquid instruments. On September 29, 2026 the issuer showed $11.0 million at BNY and $1.55 million at Societe Generale.","attestation_firm":null,"report_frequency":"Daily collateral disclosure by the issuer","latest_report":"September 29, 2026","report_url":"https://www.sgforge.com/product/coinvertible/","supply":"12,546,441 USDCV","supply_m":12.5,"supply_as_of":"September 29, 2026","redemption":"EEA-resident holders can redeem at par with the issuer after checks, paid by the last business day of the following month. The white paper states no fee or minimum.","chains":"Ethereum, Solana","chain_count":2,"website":"https://www.sgforge.com/","transparency_url":"https://www.sgforge.com/product/coinvertible/","checked":"2026-09-29","sources":"SG-FORGE CoinVertible product page (circulation, FAQ) · https://www.sgforge.com/product/coinvertible/\nUSDCV MiCA white paper v2.0 (iXBRL, Aug 2025) · https://www.sgforge.com/wp-content/uploads/2025/09/USDCV-White-Paper_iXBRL_202508.html\nSG-FORGE press release USDCV/BNY (June 2025) · https://www.sgforge.com/usd-stablecoin-bny-custodian/\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usdq","name":"USDQ (Quantoz)","path":"/stablecoin-list/usdq","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:41:16.187Z","fields":{"ticker":"USDQ","token_name":"Quantoz USDQ","brand":"Quantoz","issuer":"Quantoz Payments B.V. (Netherlands)","peg":"US dollar","type":"Fiat-backed","launched":"November 18, 2024","mica_emt":"Yes","regulation":"Electronic money institution licensed by De Nederlandsche Bank; USDQ is an e-money token under MiCA","genius":null,"reserves":"Cash and government bonds: 33% cash and 66% bonds in August 2026, with a reserve ratio of 101.91%.","attestation_firm":null,"report_frequency":"Monthly issuer snapshot","latest_report":"August 30, 2026","report_url":"https://www.quantoz.com/transparency","supply":"$5,684,016","supply_m":5.7,"supply_as_of":"August 30, 2026","redemption":"Registered account holders redeem directly after a $100,000 minimum funding; issuance and redemption are free, and processing takes from one to 20 business days depending on size.","chains":"Ethereum, Polygon, Algorand, XRP Ledger, Stellar","chain_count":5,"website":"https://www.quantoz.com/","transparency_url":"https://www.quantoz.com/transparency","checked":"2026-09-29","sources":"Quantoz transparency page · https://www.quantoz.com/transparency\nQuantoz EURQ & USDQ product page (networks) · https://www.quantoz.com/products/eurq-usdq\nUSDQ MiCA white paper v1.4 (30 Apr 2026) · https://www.quantoz.com/documents/usdq-wp-1.4-30-04-2026.pdf\nQuantoz fee schedule · https://www.quantoz.com/fees\nQuantoz launch announcement (18 Nov 2024) · https://www.quantoz.com/blog/quantoz-payments-issues-euro-and-us-dollar-stablecoins\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"crvusd","name":"crvUSD (Curve)","path":"/stablecoin-list/crvusd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:40:24.194Z","fields":{"ticker":"crvUSD","token_name":"Curve USD","brand":"Curve","issuer":null,"peg":"US dollar","type":"Crypto-collateralized","launched":null,"mica_emt":"No","regulation":null,"genius":null,"reserves":"Over-collateralized loans against crypto collateral approved by the Curve DAO, such as WETH, wstETH, WBTC and cbBTC, managed by soft-liquidation markets. PegKeeper contracts support the peg.","attestation_firm":null,"report_frequency":"On-chain","latest_report":null,"report_url":null,"supply":null,"supply_m":null,"supply_as_of":null,"redemption":"There is no issuer to redeem with. crvUSD is borrowed against collateral, and repaying the loan returns the collateral.","chains":"Ethereum","chain_count":1,"website":"https://curve.finance","transparency_url":"https://docs.curve.finance/developer/crvusd/overview","checked":"2026-09-29","sources":"Curve docs: crvUSD token · https://docs.curve.finance/developer/crvusd/\nCurve docs: crvUSD overview · https://docs.curve.finance/developer/crvusd/overview\nCurve docs: Controller · https://docs.curve.finance/developer/crvusd/controller\nCurve docs: PegKeepers overview · https://docs.curve.finance/developer/crvusd/pegkeepers/overview\nCurve docs: LLAMMA explainer · https://docs.curve.finance/developer/crvusd/llamma-explainer\nCurve docs: Monetary policy overview · https://docs.curve.finance/developer/crvusd/monetary-policy/overview\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"dai","name":"DAI (Sky)","path":"/stablecoin-list/dai","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:38:56.793Z","fields":{"ticker":"DAI","token_name":"Dai","brand":"Sky (formerly MakerDAO)","issuer":null,"peg":"US dollar","type":"Crypto-collateralized","launched":"2017","mica_emt":"No","regulation":null,"genius":null,"reserves":"Backed together with USDS by Sky Protocol collateral: $11.10 billion at the end of August 2026, against $9.53 billion of USDS and DAI combined.","attestation_firm":null,"report_frequency":"On-chain dashboards and monthly reports from the Sky Frontier Foundation","latest_report":"August 2026 (published September 17, 2026)","report_url":"https://insights.skyeco.com/insights/sky-ecosystem-august-financial-operational-update","supply":null,"supply_m":null,"supply_as_of":null,"redemption":"There is no issuer to redeem with. DAI converts 1:1 to USDS with no fee, and USDS converts 1:1 to USDC through the peg stability module.","chains":"Ethereum","chain_count":1,"website":"https://sky.money","transparency_url":"https://financial.skyeco.com","checked":"2026-09-29","sources":"Sky Protocol Docs - USDS token / DAI USDS converter · https://developers.skyeco.com/protocol/tokens/usds/\nSky Protocol Docs - Protocol token routes · https://developers.skyeco.com/quick-start/protocol-token-routes/\nSky Ecosystem - Products (USDS FAQ) · https://www.skyeco.com/products\nSky.money homepage (live supply/collateral) · https://sky.money/\nSky.money blog - What is USDS (2026-06-12) · https://sky.money/blog/what-is-usds\nSky Ecosystem Insights - Sky documentation · https://insights.skyeco.com/sky-documentation\nSky Ecosystem: August 2026 Financial & Operational Update (published 2026-09-17) · https://insights.skyeco.com/insights/sky-ecosystem-august-financial-operational-update\nSky Ecosystem Q2 2026 Quarterly Report · https://insights.skyeco.com/insights/sky-ecosystem-q2-2026-quarterly-report\nSky Protocol Financial Dashboard · https://financial.skyeco.com\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"gho","name":"GHO (Aave)","path":"/stablecoin-list/gho","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:40:17.996Z","fields":{"ticker":"GHO","token_name":"GHO","brand":"Aave","issuer":null,"peg":"US dollar","type":"Crypto-collateralized","launched":null,"mica_emt":"No","regulation":null,"genius":null,"reserves":"Over-collateralized. GHO is minted mainly by borrowers against crypto collateral in the Aave v3 Ethereum market, and through the GHO Stability Module, which holds USDC and USDT.","attestation_firm":null,"report_frequency":"On-chain","latest_report":null,"report_url":null,"supply":null,"supply_m":null,"supply_as_of":null,"redemption":"There is no issuer to redeem with. GHO is burned when loans are repaid, and the stability module swaps USDC or USDT for GHO 1:1 within governance-set caps.","chains":"Ethereum, Arbitrum, Base, Avalanche, Gnosis, Mantle, Monad, Plasma, XLayer","chain_count":9,"website":"https://aave.com/gho","transparency_url":"https://aave.com/gho","checked":"2026-09-29","sources":"Aave docs: GHO · https://aave.com/docs/ecosystem/gho\nAave GHO page · https://aave.com/gho\nAave help: GHO facilitators · https://aave.com/help/gho-stablecoin/facilitators\nAave help: GHO Stablecoin · https://aave.com/help/gho-stablecoin/gho\nAave governance: ARFC GHO Mainnet Launch · https://governance.aave.com/t/arfc-gho-mainnet-launch/13574\nAave proposal report: V3 Proposal 8 GSM activation · https://github.com/aave-dao/aave-proposals-reports/blob/master/reports/v3-8-gho-gsm-activation.md\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"gusd","name":"GUSD (Gemini)","path":"/stablecoin-list/gusd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:39:51.919Z","fields":{"ticker":"GUSD","token_name":"Gemini Dollar","brand":"Gemini","issuer":"Gemini Trust Company, LLC","peg":"US dollar","type":"Fiat-backed","launched":"2018","mica_emt":"No","regulation":"New York limited liability trust company regulated by the NYDFS","genius":null,"reserves":"Cash and cash equivalents: deposits at FDIC-insured banks, money market funds invested only in US Treasuries, and US Treasuries, in segregated accounts.","attestation_firm":"BPM LLP","report_frequency":"Monthly","latest_report":"March 31, 2026 (latest report located)","report_url":"https://assets.ctfassets.net/jg6lo9a2ukvr/1JdC9ew8EmQ4012ccmltre/49990b73c12899feaf354ffb29be15e9/Gemini_-_GUSD_Reserves_Report_-_March_2026.pdf","supply":null,"supply_m":null,"supply_as_of":null,"redemption":"Gemini customers can redeem 1 GUSD for $1 on Gemini at any time, and buying GUSD with dollars is free.","chains":"Ethereum","chain_count":1,"website":"https://www.gemini.com/dollar","transparency_url":"https://www.gemini.com/dollar","checked":"2026-09-29","sources":"Gemini - Gemini Dollar page · https://www.gemini.com/dollar\nGUSD Reserves Report March 2026 (BPM) · https://assets.ctfassets.net/jg6lo9a2ukvr/1JdC9ew8EmQ4012ccmltre/49990b73c12899feaf354ffb29be15e9/Gemini_-_GUSD_Reserves_Report_-_March_2026.pdf\nGUSD Reserves Report January 2026 · https://assets.ctfassets.net/jg6lo9a2ukvr/OF3199vZ7IVeVN9IHM2AF/99d37270988a66bb5b45e42bf09e266b/Gemini_Trust_Company_-_GUSD_Reserves_Report_-_Jan_2026_-_Issued..pdf\nGemini Trust Center (licences) · https://www.gemini.com/trust-center\nGemini support - How do I purchase Gemini dollars? · https://support.gemini.com/hc/en-gb/articles/360001334443-How-do-I-purchase-Gemini-dollars\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"pyusd","name":"PYUSD (PayPal)","path":"/stablecoin-list/pyusd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:38:06.329Z","fields":{"ticker":"PYUSD","token_name":"PayPal USD","brand":"PayPal","issuer":"Paxos Trust Company, N.A.","peg":"US dollar","type":"Fiat-backed","launched":"August 7, 2023","mica_emt":"No","regulation":"Issued by Paxos Trust Company, N.A. under an OCC national trust charter (converted from a New York trust charter on December 12, 2025)","genius":null,"reserves":"Paxos states the reserves are held entirely in US dollar deposits, US Treasuries and cash equivalents, in segregated, bankruptcy-remote accounts.","attestation_firm":"KPMG LLP","report_frequency":"Monthly attestation and monthly self-reported composition","latest_report":"August 2026","report_url":"https://www.paxos.com/pyusd-transparency","supply":null,"supply_m":null,"supply_as_of":null,"redemption":"Institutions with a Paxos account can mint and redeem 1:1 with no fees. PayPal and Venmo users can convert PYUSD to US dollars in the app with no fee.","chains":"Ethereum, Solana","chain_count":2,"website":"https://www.paxos.com/pyusd","transparency_url":"https://www.paxos.com/pyusd-transparency","checked":"2026-09-29","sources":"Paxos PYUSD transparency · https://www.paxos.com/pyusd-transparency\nPaxos PYUSD page · https://www.paxos.com/pyusd\nPaxos Mint and Redeem · https://www.paxos.com/mint-and-redeem\nPaxos newsroom: PayPal launches US dollar-backed stablecoin (7 Aug 2023) · https://www.paxos.com/newsroom/paypal-launches-us-dollar-backed-stablecoin\nPayPal newsroom launch release · https://newsroom.paypal-corp.com/2023-08-07-PayPal-Launches-U-S-Dollar-Stablecoin\nPaxos blog: OCC charter explained · https://www.paxos.com/blog/occ-charter-stablecoins\nPaxos: OCC approves conversion (update: converted 12 Dec 2025) · https://www.paxos.com/newsroom/occ-approves-paxos-application-to-convert-to-occ-trust-paxos-to-complete-conversion-imminently-to-become-a-federally-regulated-blockchain-infrastructure-provider\nOCC conditional approval letter, Paxos conversion (Charter 25379) · https://www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125e.pdf\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"tusd","name":"TUSD (TrueUSD)","path":"/stablecoin-list/tusd","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:39:59.268Z","fields":{"ticker":"TUSD","token_name":"TrueUSD","brand":"TrueUSD","issuer":"Techteryx, the company named in TrueUSD's reserve attestation disclosures","peg":"US dollar","type":"Fiat-backed","launched":"March 2018","mica_emt":"No","regulation":null,"genius":null,"reserves":"Fiat deposits held with third-party banking partners; the white paper says balances may include cash, cash equivalents and other investments that may generate yield.","attestation_firm":"Moore Hong Kong","report_frequency":"Daily","latest_report":null,"report_url":"https://tusd.io/transparency","supply":null,"supply_m":null,"supply_as_of":null,"redemption":"Verified users redeem through the TUSD app after the banking partners' checks, with a $1,000 minimum and no minting or redemption fee.","chains":"Ethereum, TRON, Avalanche, BNB Smart Chain","chain_count":4,"website":"https://tusd.io","transparency_url":"https://tusd.io/transparency","checked":"2026-09-29","sources":"TUSD transparency page · https://tusd.io/transparency\nTUSD homepage (FAQ, links) · https://tusd.io/\nTUSD About page (timeline) · https://tusd.io/about\nTrueUSD whitepaper, last updated 2 Feb 2026 · https://tusd.io/docs/trueusd-white-paper-202602.pdf\nChainlink TUSD Proof of Reserve feed (Moore HK data disclosure) · https://data.chain.link/feeds/ethereum/mainnet/tusd-por\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usde","name":"USDe (Ethena)","path":"/stablecoin-list/usde","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:39:06.385Z","fields":{"ticker":"USDe","token_name":"Ethena USDe","brand":"Ethena","issuer":"Ethena BVI Limited","peg":"US dollar","type":"Synthetic (hedged derivatives)","launched":null,"mica_emt":"No","regulation":null,"genius":null,"reserves":"A synthetic dollar backed by assets held with custodians and hedged with short derivative positions. In Ethena's June 2026 governance update, DeFi lending made up about 46% of backing, liquid stablecoins about 35%, tokenized real-world assets 11.2%, institutional lending 6.9% and crypto basis trades 1.0%.","attestation_firm":"Custodian attestations; weekly proof of reserves by Harris & Trotter, Chaos Labs, LlamaRisk and Chainlink","report_frequency":"Monthly custodian attestations and weekly proof of reserves","latest_report":"August 2026 (published September 3, 2026)","report_url":"https://ethena.fi/blog/custodian-attestations-of-assets-backing-usde-august-3","supply":null,"supply_m":null,"supply_as_of":null,"redemption":"Only whitelisted mint users who pass KYC or KYB can mint and redeem directly with Ethena BVI, and US users are not eligible. Redemptions are paid in supported digital assets.","chains":"Ethereum, Solana, TON, Aptos, ZKsync, Zircuit, Tempo","chain_count":7,"website":"https://ethena.fi","transparency_url":"https://ethena.fi","checked":"2026-09-29","sources":"Ethena docs - USDe Overview · https://docs.ethena.fi/solution-overview/usde-overview\nEthena docs - USDe Terms and Conditions · https://docs.ethena.fi/resources/usde-terms-and-conditions\nEthena docs - USDe Mint User Agreement · https://docs.ethena.fi/resources/usde-mint-user-agreement\nEthena docs - Custodian Attestations · https://docs.ethena.fi/resources/custodian-attestations\nEthena blog - Custodian Attestations: August (2026-09-03) · https://ethena.fi/blog/custodian-attestations-of-assets-backing-usde-august-3\nEthena blog - Custodian Attestations: June (2026-07-01) · https://ethena.fi/blog/custodian-attestations-of-assets-backing-usde-june-3\nEthena Labs - USDe Proof of Reserves launch · https://mirror.xyz/0xF99d0E4E3435cc9C9868D1C6274DfaB3e2721341/t-wg34L4ZHuSdEmIuIDRk62PGqfgjXGyB5BLmM5QsuE\nEthena Governance - June 2026 Governance Update · https://gov.ethenafoundation.com/t/ethena-s-june-2026-governance-update/808\nEthena docs - Key Addresses · https://docs.ethena.fi/technical-design/key-addresses\nEthena homepage · https://ethena.fi/\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usdg","name":"USDG (Paxos)","path":"/stablecoin-list/usdg","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:38:40.067Z","fields":{"ticker":"USDG","token_name":"Global Dollar","brand":"Paxos (Global Dollar Network)","issuer":"Paxos Digital Singapore Pte. Ltd. (outside the EEA); Paxos Issuance Europe Oy (EEA)","peg":"US dollar","type":"Fiat-backed","launched":"November 1, 2024","mica_emt":"Yes","regulation":"Paxos Digital Singapore: major payment institution supervised by the Monetary Authority of Singapore\nPaxos Issuance Europe Oy: electronic money institution supervised by Finland's FIN-FSA; USDG is an e-money token under MiCA","genius":null,"reserves":"Paxos states the reserves are held entirely in US dollar deposits, US Treasuries and cash equivalents in segregated accounts, with part of them at European banks to meet MiCA rules.","attestation_firm":"KPMG LLP","report_frequency":"Monthly","latest_report":"August 2026","report_url":"https://www.paxos.com/usdg-transparency","supply":null,"supply_m":null,"supply_as_of":null,"redemption":"Onboarded institutions mint and redeem directly with Paxos, with no fees: EEA residents through Paxos Issuance Europe, others through Paxos Digital Singapore.","chains":"Ethereum, Solana, Ink, Mantle, Robinhood Chain, X Layer","chain_count":6,"website":"https://www.paxos.com/usdg","transparency_url":"https://www.paxos.com/usdg-transparency","checked":"2026-09-29","sources":"Paxos USDG transparency · https://www.paxos.com/usdg-transparency\nPaxos USDG page · https://www.paxos.com/usdg\nUSDG EU (MiCA) white paper · https://www.paxos.com/usdg-eu-white-paper\nPaxos Mint and Redeem · https://www.paxos.com/mint-and-redeem\nPaxos docs: USDG overview · https://docs.paxos.com/guides/stablecoin/usdg\nPaxos newsroom: Paxos introduces Global Dollar (USDG) · https://www.paxos.com/newsroom/paxos-introduces-global-dollar-usdg\nPaxos newsroom: USDG launches in the EU (1 Jul 2025) · https://www.paxos.com/newsroom/global-dollar-%28usdg%29-launches-in-the-eu\nPaxos: OCC approves conversion (update: converted 12 Dec 2025) · https://www.paxos.com/newsroom/occ-approves-paxos-application-to-convert-to-occ-trust-paxos-to-complete-conversion-imminently-to-become-a-federally-regulated-blockchain-infrastructure-provider\nOCC conditional approval letter, Paxos conversion (Charter 25379) · https://www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125e.pdf\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usdp","name":"USDP (Paxos)","path":"/stablecoin-list/usdp","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:38:13.514Z","fields":{"ticker":"USDP","token_name":"Pax Dollar","brand":"Paxos","issuer":"Paxos Trust Company, N.A.","peg":"US dollar","type":"Fiat-backed","launched":"September 10, 2018 (as Paxos Standard)","mica_emt":"No","regulation":"Issued by Paxos Trust Company, N.A. under an OCC national trust charter (converted from a New York trust charter on December 12, 2025)","genius":null,"reserves":"Paxos states the reserves are held entirely in cash and cash equivalents, in segregated, bankruptcy-remote accounts.","attestation_firm":"KPMG LLP","report_frequency":"Monthly attestation","latest_report":"August 2026","report_url":"https://www.paxos.com/usdp-transparency","supply":null,"supply_m":null,"supply_as_of":null,"redemption":"Paxos says customer funds are always available for 1:1 redemption. It does not publish a separate minimum or fee for USDP.","chains":"Ethereum, Solana","chain_count":2,"website":"https://www.paxos.com/usdp","transparency_url":"https://www.paxos.com/usdp-transparency","checked":"2026-09-29","sources":"Paxos USDP transparency · https://www.paxos.com/usdp-transparency\nPaxos USDP page · https://www.paxos.com/usdp\nPaxos newsroom: Paxos launches Paxos Standard (10 Sep 2018) · https://www.paxos.com/newsroom/paxos-launches-new-stablecoin-paxos-standard-pax\nPaxos blog: PAX is now Pax Dollar (USDP), 24 Aug 2021 · https://www.paxos.com/blog/the-digital-dollar-that-always-equals-a-dollar-paxos-standard-pax-is-now-pax-dollar-usdp\nPaxos: OCC approves conversion (update: converted 12 Dec 2025) · https://www.paxos.com/newsroom/occ-approves-paxos-application-to-convert-to-occ-trust-paxos-to-complete-conversion-imminently-to-become-a-federally-regulated-blockchain-infrastructure-provider\nOCC conditional approval letter, Paxos conversion (Charter 25379) · https://www.occ.gov/news-issuances/news-releases/2025/nr-occ-2025-125e.pdf\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}},{"slug":"usds","name":"USDS (Sky)","path":"/stablecoin-list/usds","category":{"slug":"us-dollar","title":"US dollar stablecoins"},"updatedAt":"2026-09-29T20:38:48.341Z","fields":{"ticker":"USDS","token_name":"Sky Dollar","brand":"Sky","issuer":null,"peg":"US dollar","type":"Crypto-collateralized","launched":null,"mica_emt":"No","regulation":null,"genius":null,"reserves":"Backed by more than its supply in Sky Protocol collateral: other stablecoins held in the peg stability module, on-chain and OTC crypto lending, short-dated Treasury bills and other approved assets. Protocol collateral was $11.10 billion at the end of August 2026, against $9.53 billion of USDS and DAI combined.","attestation_firm":null,"report_frequency":"On-chain dashboards and monthly reports from the Sky Frontier Foundation","latest_report":"August 2026 (published September 17, 2026)","report_url":"https://insights.skyeco.com/insights/sky-ecosystem-august-financial-operational-update","supply":null,"supply_m":null,"supply_as_of":null,"redemption":"There is no issuer to redeem with. USDS converts 1:1 to USDC through the peg stability module and 1:1 to DAI, with no protocol fee (network fees apply), within limits set by governance.","chains":"Ethereum, Solana, Base, Arbitrum","chain_count":4,"website":"https://sky.money","transparency_url":"https://financial.skyeco.com","checked":"2026-09-29","sources":"Sky Protocol Docs - USDS token / DAI USDS converter · https://developers.skyeco.com/protocol/tokens/usds/\nSky Protocol Docs - Protocol token routes · https://developers.skyeco.com/quick-start/protocol-token-routes/\nSky Ecosystem - Products (USDS FAQ) · https://www.skyeco.com/products\nSky.money homepage (live supply/collateral) · https://sky.money/\nSky.money blog - What is USDS (2026-06-12) · https://sky.money/blog/what-is-usds\nSky Ecosystem Insights - Sky documentation · https://insights.skyeco.com/sky-documentation\nSky Ecosystem: August 2026 Financial & Operational Update (published 2026-09-17) · https://insights.skyeco.com/insights/sky-ecosystem-august-financial-operational-update\nSky Ecosystem Q2 2026 Quarterly Report · https://insights.skyeco.com/insights/sky-ecosystem-q2-2026-quarterly-report\nSky Protocol Financial Dashboard · https://financial.skyeco.com\nESMA interim MiCA register: e-money token issuers · https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv"}}]}