| Stablecoin | Market Cap | Mechanism | Attestation | Regulatory |
|---|---|---|---|---|
|
U
Tether USD (USDT)
Tether
|
$145.0B | fiat-reserve | BDO monthly 2026-04 |
El Salvador / BVI |
|
U
USD Coin (USDC)
Circle
|
$60.5B | fiat-reserve | Deloitte monthly 2026-04 |
MiCA EMT / NYDFS |
|
U
USDS (Sky) (USDS)
Sky (ex-MakerDAO)
|
$7.2B | crypto-collateral | On-chain live |
DAO-governed |
|
D
Dai (DAI)
MakerDAO
|
$5.3B | crypto-collateral | On-chain live |
DAO-governed |
|
U
Ethena USDe (USDe)
Ethena Labs
|
$4.9B | delta-neutral | Chaos Labs / quarterly 2026-Q1 |
BVI |
|
F
First Digital USD (FDUSD)
First Digital Labs
|
$1.4B | fiat-reserve | Prescient Assurance monthly 2026-04 |
Hong Kong TCSP |
|
P
PayPal USD (PYUSD)
Paxos / PayPal
|
$1.1B | fiat-reserve | WithumSmith+Brown monthly 2026-04 |
NYDFS Trust |
|
R
Ripple USD (RLUSD)
Ripple
|
$0.72B | fiat-reserve | BPM monthly 2026-04 |
NYDFS |
Usual USD (USD0)
Usual
|
$0.59B | RWA-backed | Tokenised T-bill on-chain live |
DAO-governed |
|
T
TrueUSD (TUSD)
Techteryx
|
$0.50B | fiat-reserve | Moore HK / live live |
Off-shore |
|
G
Aave GHO (GHO)
Aave DAO
|
$0.29B | crypto-collateral | On-chain live |
DAO-governed |
Euro Coin (EURC)
Circle
|
$0.24B | fiat-reserve | Deloitte monthly 2026-04 |
MiCA EMT |