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Wed, Aug 19 CAP $1.99T
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Data desk · Live

Reserve Watch

Stablecoin supply and backing mechanism, with links to issuer transparency. Not financial advice.

#StablecoinCirculatingPegMechanismTransparency
1 TetherTether USDT $182.95B USD Fiat Backed Attestation ↗
2 USD CoinUSD Coin USDC $71.97B USD Fiat Backed Attestation ↗
3 Sky Dollar USDS $6.71B USD Crypto Backed
4 DaiDai DAI $4.77B USD Crypto Backed
5 Ethena USDe USDe $4.04B USD Crypto Backed
6 World Liberty Financial USD USD1 $4.01B USD Fiat Backed
7 Global Dollar USDG $3.40B USD Fiat Backed
8 Circle USYC USYC $2.98B USD Fiat Backed
9 PayPal USD PYUSD $2.76B USD Fiat Backed
10 BlackRock USD BUIDL $2.74B USD Fiat Backed
11 Ondo US Dollar Yield USDY $2.15B USD Fiat Backed
12 Ripple USD RLUSD $1.76B USD Fiat Backed
13 USDD USDD $1.51B USD Crypto Backed
14 United Stables U $1.26B USD Crypto Backed
15 USDGO USDGO $1.19B USD Fiat Backed
16 Falcon USD USDf $1.17B USD Crypto Backed
17 GHO GHO $698.13M USD Crypto Backed
18 YLDS YLDS $666.13M USD Fiat Backed
19 Usual USD USD0 $550.80M USD Fiat Backed
20 Solstice USX USX $506.27M USD Crypto Backed

Source: DefiLlama + issuers. Figures are informational and not financial advice.

Why reserve transparency matters

A stablecoin’s peg is only as strong as what backs it — and only as trustworthy as the issuer’s willingness to prove it. A genuine attestation shows the reserve composition (cash, Treasuries, commercial paper, other), confirms independent audit, and is published on a regular cadence.

What to watch

  • No public attestation at all, or one that’s months out of date.
  • Reserves partly held in the issuer’s own token rather than external assets.
  • roo2ya links each issuer’s own transparency page directly — verify the primary source, don’t just trust the label.