{
 "asOf": "2026-10-28T21:15:06+00:00",
 "methodVersion": 2,
 "scope": "U.S. dollar stablecoins backed by cash and short-term Treasuries, issued by a named company. Crypto-backed and synthetic dollars (DAI, USDS, USDe) are out of scope.",
 "rules": [
  "Count only the issuer's own token on each chain, as listed in the issuer's documentation. Bridged or wrapped copies (for example USDC.e, Binance-Peg USDT) are never counted, because the underlying token is already counted where it was issued.",
  "Read total supply directly from each blockchain.",
  "Subtract tokens the issuer has created but not put into circulation, when the issuer discloses them.",
  "Where an issuer publishes circulation by chain, our blockchain read must agree with it; otherwise the figure is held for review."
 ],
 "total": 262795442997.1,
 "coins": [
  {
   "id": "usdt",
   "symbol": "USDT",
   "name": "Tether",
   "issuer": "Tether",
   "addressSource": "https://tether.to/en/supported-protocols/",
   "circulating": 180116879591.68,
   "chains": [
    {
     "chain": "Tron",
     "address": "TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t",
     "onchain": 94245475626.15,
     "circulating": 92377460609.51,
     "basis": "on-chain supply minus Tether's disclosed unissued reserve",
     "endpoint": "api.trongrid.io",
     "notIssued": 1868015016.64
    },
    {
     "chain": "Ethereum",
     "address": "0xdAC17F958D2ee523a2206206994597C13D831ec7",
     "onchain": 88301265725.97,
     "circulating": 84929027126.59,
     "basis": "on-chain supply minus Tether's disclosed unissued reserve",
     "endpoint": "ethereum-rpc.publicnode.com",
     "notIssued": 3372238599.38
    },
    {
     "chain": "Solana",
     "address": "Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB",
     "onchain": 3839903169.9,
     "circulating": 2810391855.58,
     "basis": "on-chain supply minus Tether's disclosed unissued reserve",
     "endpoint": "api.mainnet-beta.solana.com",
     "notIssued": 1029511314.32
    }
   ],
   "issuerReported": 181828259330.44,
   "issuerSource": "https://tether.to/en/transparency/",
   "coverage": 0.9906
  },
  {
   "id": "usdc",
   "symbol": "USDC",
   "name": "USD Coin",
   "issuer": "Circle",
   "addressSource": "https://developers.circle.com/stablecoins/usdc-contract-addresses",
   "circulating": 70082330507.86,
   "chains": [
    {
     "chain": "Ethereum",
     "address": "0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48",
     "onchain": 47452566216.38,
     "circulating": 47452168207.79,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "ethereum-rpc.publicnode.com",
     "notIssued": 398008.59
    },
    {
     "chain": "Solana",
     "address": "EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v",
     "onchain": 7295407323.54,
     "circulating": 6638018087.96,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "api.mainnet-beta.solana.com",
     "notIssued": 657389235.58
    },
    {
     "chain": "HyperEVM",
     "address": "0xb88339CB7199b77E23DB6E890353E22632Ba630f",
     "onchain": 6492040009.91,
     "circulating": 6492040009.91,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "rpc.hyperliquid.xyz",
     "notIssued": 0
    },
    {
     "chain": "Base",
     "address": "0x833589fCD6eDb6E08f4c7C32D4f71b54bdA02913",
     "onchain": 4239549449.23,
     "circulating": 4239549449.23,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "base-rpc.publicnode.com",
     "notIssued": 0
    },
    {
     "chain": "Arbitrum",
     "address": "0xaf88d065e77c8cC2239327C5EDb3A432268e5831",
     "onchain": 2434130532.98,
     "circulating": 2434073926.98,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "arbitrum-one-rpc.publicnode.com",
     "notIssued": 56606.0
    },
    {
     "chain": "Polygon",
     "address": "0x3c499c542cEF5E3811e1192ce70d8cC03d5c3359",
     "onchain": 634081088.74,
     "circulating": 634081088.74,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "polygon-bor-rpc.publicnode.com",
     "notIssued": 0
    },
    {
     "chain": "Avalanche",
     "address": "0xB97EF9Ef8734C71904D8002F8b6Bc66Dd9c48a6E",
     "onchain": 355313007.34,
     "circulating": 355313007.34,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "avalanche-c-chain-rpc.publicnode.com",
     "notIssued": 0.0
    },
    {
     "chain": "OP Mainnet",
     "address": "0x0b2C639c533813f4Aa9D7837CAf62653d097Ff85",
     "onchain": 123641969.47,
     "circulating": 123641969.47,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "optimism-rpc.publicnode.com",
     "notIssued": 0
    },
    {
     "chain": "Arc",
     "address": "0x3600000000000000000000000000000000000000",
     "onchain": 1098634951.81,
     "circulating": 1098634951.81,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "rpc.mainnet.arc.io",
     "notIssued": 0
    },
    {
     "chain": "Stellar",
     "address": "USDC-GA5ZSEJYB37JRC5AVCIA5MOP4RHTM335X2KGX3IHOJAPP5RE34K4KZVN",
     "onchain": 342610803.27,
     "circulating": 342610803.27,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "horizon.stellar.org",
     "notIssued": 0
    },
    {
     "chain": "Sui",
     "address": "0xdba34672e30cb065b1f93e3ab55318768fd6fef66c15942c9f7cb846e2f900e7::usdc::USDC",
     "onchain": 272199005.36,
     "circulating": 272199005.36,
     "basis": "on-chain supply, less amount Circle reports as not circulating",
     "endpoint": "graphql.mainnet.sui.io",
     "notIssued": 0.0
    }
   ],
   "issuerReported": 71313316958.4,
   "issuerSource": "https://www.circle.com/transparency",
   "coverage": 0.9827
  },
  {
   "id": "usd1",
   "symbol": "USD1",
   "name": "USD1",
   "issuer": "World Liberty Financial",
   "addressSource": "https://docs.worldlibertyfinancial.com/usd1-token/contract-addresses",
   "circulating": 3870468432.94,
   "chains": [
    {
     "chain": "Ethereum",
     "address": "0x8d0D000Ee44948FC98c9B98A4FA4921476f08B0d",
     "onchain": 1303447893.75,
     "circulating": 1303447893.75,
     "basis": "on-chain supply",
     "endpoint": "ethereum-rpc.publicnode.com"
    },
    {
     "chain": "BNB Chain",
     "address": "0x8d0D000Ee44948FC98c9B98A4FA4921476f08B0d",
     "onchain": 1172031125.56,
     "circulating": 1172031125.56,
     "basis": "on-chain supply",
     "endpoint": "bsc-rpc.publicnode.com"
    },
    {
     "chain": "Solana",
     "address": "USD1ttGY1N17NEEHLmELoaybftRBUSErhqYiQzvEmuB",
     "onchain": 1384926808.73,
     "circulating": 1384926808.73,
     "basis": "on-chain supply",
     "endpoint": "api.mainnet-beta.solana.com"
    },
    {
     "chain": "Tron",
     "address": "TPFqcBAaaUMCSVRCqPaQ9QnzKhmuoLR6Rc",
     "onchain": 10062604.9,
     "circulating": 10062604.9,
     "basis": "on-chain supply",
     "endpoint": "api.trongrid.io"
    }
   ],
   "issuerReported": null,
   "issuerSource": null
  },
  {
   "id": "usdg",
   "symbol": "USDG",
   "name": "Global Dollar",
   "issuer": "Paxos",
   "addressSource": "https://docs.paxos.com/guides/stablecoin/usdg/mainnet",
   "circulating": 3136190704.67,
   "chains": [
    {
     "chain": "X Layer",
     "address": "0x4ae46a509F6b1D9056937BA4500cb143933D2dc8",
     "onchain": 1280403481.77,
     "circulating": 1280403481.77,
     "basis": "on-chain supply",
     "endpoint": "rpc.xlayer.tech"
    },
    {
     "chain": "Solana",
     "address": "2u1tszSeqZ3qBWF3uNGPFc8TzMk2tdiwknnRMWGWjGWH",
     "onchain": 621484699.22,
     "circulating": 621484699.22,
     "basis": "on-chain supply",
     "endpoint": "api.mainnet-beta.solana.com"
    },
    {
     "chain": "Ethereum",
     "address": "0xe343167631d89B6Ffc58B88d6b7fB0228795491D",
     "onchain": 410139583.91,
     "circulating": 410139583.91,
     "basis": "on-chain supply",
     "endpoint": "ethereum-rpc.publicnode.com"
    },
    {
     "chain": "Arbitrum",
     "address": "0x004B506865409877C9fA29bfb1ebA929984B9bbC",
     "onchain": 50540619.12,
     "circulating": 50540619.12,
     "basis": "on-chain supply",
     "endpoint": "arbitrum-one-rpc.publicnode.com"
    },
    {
     "chain": "Robinhood Chain",
     "address": "0x5fc5360D0400a0Fd4f2af552ADD042D716F1d168",
     "onchain": 707887508.2,
     "circulating": 707887508.2,
     "basis": "on-chain supply",
     "endpoint": "rpc.mainnet.chain.robinhood.com"
    },
    {
     "chain": "Ink",
     "address": "0xe343167631d89B6Ffc58B88d6b7fB0228795491D",
     "onchain": 65233707.15,
     "circulating": 65233707.15,
     "basis": "on-chain supply",
     "endpoint": "rpc-gel.inkonchain.com"
    },
    {
     "chain": "Mantle",
     "address": "0x063C1d1ef6e9099Ce3E8e9AD5C6173d12C49C086",
     "onchain": 501105.3,
     "circulating": 501105.3,
     "basis": "on-chain supply",
     "endpoint": "rpc.mantle.xyz"
    }
   ],
   "issuerReported": null,
   "issuerSource": null
  },
  {
   "id": "pyusd",
   "symbol": "PYUSD",
   "name": "PayPal USD",
   "issuer": "Paxos",
   "addressSource": "https://docs.paxos.com/guides/stablecoin/pyusd/mainnet",
   "circulating": 2984880674.01,
   "chains": [
    {
     "chain": "Ethereum",
     "address": "0x6c3ea9036406852006290770BEdFcAbA0e23A0e8",
     "onchain": 1963891384.91,
     "circulating": 1963891384.91,
     "basis": "on-chain supply",
     "endpoint": "ethereum-rpc.publicnode.com"
    },
    {
     "chain": "Solana",
     "address": "2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo",
     "onchain": 695993815.26,
     "circulating": 695993815.26,
     "basis": "on-chain supply",
     "endpoint": "api.mainnet-beta.solana.com"
    },
    {
     "chain": "Arbitrum",
     "address": "0x46850aD61C2B7d64d08c9C754F45254596696984",
     "onchain": 312554492.4,
     "circulating": 312554492.4,
     "basis": "on-chain supply",
     "endpoint": "arbitrum-one-rpc.publicnode.com"
    },
    {
     "chain": "Polygon",
     "address": "0x99aF3EeA856556646C98c8B9b2548Fe815240750",
     "onchain": 10425864.6,
     "circulating": 10425864.6,
     "basis": "on-chain supply",
     "endpoint": "polygon-bor-rpc.publicnode.com"
    },
    {
     "chain": "X Layer",
     "address": "0x87b4a8176B3Df6b71e26CC095edcAf4Db07506B4",
     "onchain": 2015116.84,
     "circulating": 2015116.84,
     "basis": "on-chain supply",
     "endpoint": "rpc.xlayer.tech"
    }
   ],
   "issuerReported": null,
   "issuerSource": null
  },
  {
   "id": "rlusd",
   "symbol": "RLUSD",
   "name": "Ripple USD",
   "issuer": "Ripple (Standard Custody & Trust)",
   "addressSource": "https://docs.ripple.com/products/stablecoin/overview/token-addresses",
   "circulating": 2604693085.94,
   "chains": [
    {
     "chain": "Ethereum",
     "address": "0x8292Bb45bf1Ee4d140127049757C2E0fF06317eD",
     "onchain": 1627057610.08,
     "circulating": 1627057610.08,
     "basis": "on-chain supply",
     "endpoint": "ethereum-rpc.publicnode.com"
    },
    {
     "chain": "XRP Ledger",
     "address": "rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De",
     "onchain": 977635475.86,
     "circulating": 977635475.86,
     "basis": "on-chain supply",
     "endpoint": "xrplcluster.com"
    }
   ],
   "issuerReported": null,
   "issuerSource": null
  }
 ]
}