Stablecoin List: Every Stablecoin by Market Cap

What are stablecoins?

Stablecoins are crypto tokens built to hold a steady value, almost always one US dollar. They are the cash of crypto markets: traders park funds in them between trades, exchanges quote prices against them, and people use them to move dollars across borders faster than a bank wire. Stablecoins now settle more value than most payment networks, and since the US GENIUS Act of 2025 the largest dollar issuers are regulated much like narrow banks.

A stablecoin is only as good as the thing holding it at $1. That is why this registry tracks supply, peg and backing side by side, rather than treating every stablecoin as interchangeable.

The four types of stablecoins

Fiat-backed

A company holds cash and short-term government debt equal to the tokens it has issued, and redeems tokens 1:1 for verified customers. This is the largest category by far, led by USDT and USDC. The risks sit with the issuer: its banks, how transparent its reserves are, and its ability to freeze tokens.

Crypto-backed and synthetic

Tokens are minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins created, as with DAI and GHO. Synthetic dollars such as USDe hedge their collateral with short futures positions instead. There is no single issuer to trust, but smart-contract bugs, crashing collateral and broken oracles take its place as the main risks.

Algorithmic

These hold their peg mainly through code and incentives, typically by minting and burning a companion token. The collapse of TerraUSD in May 2022 wiped out about $40 billion and discredited the pure model. Few algorithmic coins of meaningful size remain.

Yield-bearing and tokenized Treasuries

These pass interest from their reserves to holders. Some are regulated fund shares on a blockchain, such as BlackRock's BUIDL and Circle's USYC. Others are notes or savings wrappers whose price rises as yield accrues, such as USDY. Most are restricted to qualified or non-US investors.

How to compare stablecoins

• Backing: what sits behind each token, who holds it, and how often an independent firm attests to it.
• Peg history: whether the coin has held $1 through market stress. Today's price alone tells you little.
• Supply trend: growing supply means new money is arriving. Steady redemptions can be an early warning.
• Chains and liquidity: a coin is only useful where you can trade or redeem it, so check which blockchains it lives on.
• Regulation: licensed issuers (GENIUS Act in the US, MiCA in the EU) face reserve and disclosure rules that unregulated issuers do not.