Stablecoin Directory
A data-driven overview of stablecoin tokens, payment orchestrators, and the blockchain networks powering the next era of money movement.
Data as of March 2026 (estimates)
Total Market Cap
$223B
Stablecoins Tracked
15
Network TVL
$193B
Platforms Tracked
16
Interactive map available on larger screens.
| Token↓ | Issuer | Market Cap↓ | Type | Transparency | Chains |
|---|---|---|---|---|---|
| USDTTether | Tether Holdings | $140B | Fiat-backed | Quarterly attestation (BDO Italia) | EthereumTronSolanaArbitrum+6 |
| USDCUSD Coin | Circle | $62B | Fiat-backed | Monthly attestation (Deloitte) | EthereumSolanaBaseArbitrum+5 |
| USDSUSDS (Sky Dollar) | Sky (f.k.a. MakerDAO) | $6.8B | Crypto-collateralized | On-chain verifiable (all collateral visible) | EthereumBase |
| USDeUSDe | Ethena Labs | $5.5B | Synthetic | Real-time proof of reserves (on-chain + custodian attestations) | EthereumArbitrumBase |
| FDUSDFirst Digital USD | First Digital Trust (Hong Kong) | $3.2B | Fiat-backed | Monthly attestation (Prescient Assurance) | EthereumBSC |
| DAIDAI (legacy) | Sky (f.k.a. MakerDAO) | $1.2B | Crypto-collateralized | On-chain verifiable | Ethereum |
| PYUSDPayPal USD | PayPal (issued by Paxos) | $1.1B | Fiat-backed | Monthly attestation (WithumSmith+Brown) | EthereumSolana |
| USDPPax Dollar | Paxos Trust | $950M | Fiat-backed | Monthly attestation (WithumSmith+Brown) | Ethereum |
| FRAXFrax | Frax Finance | $680M | Algorithmic / Hybrid | On-chain verifiable (frxETH + USDC collateral) | EthereumArbitrumOptimism |
| GHOGHO | Aave DAO | $550M | Crypto-collateralized | On-chain verifiable (Aave V3 collateral) | EthereumArbitrum |
| TUSDTrueUSD | Archblock (TrueCoin) | $490M | Fiat-backed | Limited (attestations paused/inconsistent since 2024) | EthereumTronBSC |
| cUSDCelo Dollar | Mento Protocol (Celo) | $200M | Crypto-collateralized | On-chain verifiable (Mento reserve) | Celo |
| LUSDLiquity USD | Liquity Protocol | $180M | Crypto-collateralized | On-chain verifiable (ETH-only collateral) | Ethereum |
| GUSDGemini Dollar | Gemini Trust | $150M | Fiat-backed | Monthly attestation (BPM LLP) | Ethereum |
| BUSDBUSDDeprecated | Paxos (for Binance) | ~$70M | Fiat-backed | N/A (wind-down mode) | EthereumBSC |
USDT
Tether Holdings
Trading pairs, emerging-market remittances, store of value
USDC
Circle
Institutional settlement, DeFi, merchant payments
USDS
Sky (f.k.a. MakerDAO)
DeFi lending/borrowing, savings rate (SSR)
USDe
Ethena Labs
Yield generation (sUSDe ~15-25% APY via funding rate arbitrage)
FDUSD
First Digital Trust (Hong Kong)
Binance trading pairs, Asia-Pacific settlement
DAI
Sky (f.k.a. MakerDAO)
DeFi legacy positions, still widely integrated
PYUSD
PayPal (issued by Paxos)
PayPal/Venmo payments, retail commerce
USDP
Paxos Trust
Regulated settlement, PayPal backend
FRAX
Frax Finance
DeFi, Fraxlend ecosystem
GHO
Aave DAO
Aave ecosystem borrowing, facilitator-based minting
TUSD
Archblock (TrueCoin)
Legacy trading pairs (declining)
cUSD
Mento Protocol (Celo)
Mobile payments in emerging markets (Africa, SE Asia)
LUSD
Liquity Protocol
Decentralization-maximalist DeFi, censorship resistance
GUSD
Gemini Trust
Gemini ecosystem, institutional
BUSDDeprecated
Paxos (for Binance)
Legacy — redemption only, no new minting since Feb 2023