Information, not investment advice. Facts are copied from cited issuer and regulator documents with retrieval dates; anything we could not verify is marked unknown. Nothing here is a recommendation, ranking, or eligibility determination about you.
As of 2026-10-25, the latest reserve report we could open for USDT is the Q2 2026 BDO attestation (as of 2026-06-30) and for USDC the August 2026 Deloitte examination; dates and links for all 11 tracked stablecoins are below.
| Product | Issuer | Regulator | Reserve / holdings report type | Report as-of date | Latest reserve / holdings report | Circulating supply (issuer report or issuer contract) |
|---|---|---|---|---|---|---|
| Sky DAI | Sky Protocol (formerly MakerDAO) Sky, retrieved 2026-10-25 | Unknown | On-chain collateral (no fiat reserve attestation) Sky, retrieved 2026-10-25 | Unknown | Unknown | USD 4,525,933,141 as of 2026-10-25 Sky chainlog (contract registry), retrieved 2026-10-25 |
| First Digital FDUSD | FD121 (BVI) Limited (financial technology company, not a bank); reserves custodied by First Digital Trust Limited (Hong Kong) First Digital Labs, retrieved 2026-10-25 | Not licensed as a stablecoin issuer: issuer says it is working to secure authorisation. Custodian First Digital Trust Limited is a Hong Kong licensed TCSP and registered trust company First Digital Labs, retrieved 2026-10-25 | Monthly independent attestation First Digital Labs, retrieved 2026-10-25 | 2026-09-30 First Digital Labs, retrieved 2026-10-25 | https://firstdigitallabs.com/transparency First Digital Labs, retrieved 2026-10-25 | USD 325,042,000 as of 2026-09-30 First Digital Labs, retrieved 2026-10-25 |
| Paxos PYUSD | Paxos Trust Company, N.A. Paxos, retrieved 2026-10-25 | Office of the Comptroller of the Currency (OCC) Paxos, retrieved 2026-10-25 | Monthly KPMG attestation + Paxos self-reported composition Paxos, retrieved 2026-10-25 | 2026-09 Paxos, retrieved 2026-10-25 | https://www.paxos.com/pyusd-transparency Paxos, retrieved 2026-10-25 | Unknown |
| Ripple RLUSD | Standard Custody & Trust Company, LLC (subsidiary of Ripple Labs Inc.) Ripple RLUSD attestation (PDF), retrieved 2026-10-25 | NYDFS (New York limited purpose trust company); Ripple also cites DFSA (Dubai) approval Ripple, retrieved 2026-10-25 | Monthly attestation by an independent CPA licensed in the United States Ripple, retrieved 2026-10-25 | 2026-08-31 Ripple RLUSD attestation (PDF), retrieved 2026-10-25 | https://cdn.sanity.io/files/ior4a5y3/production/4981331c98a2bb203c0c9ab2584e8b2a0da80938.pdf/RLUSD%20Attestation%20Report%20(Aug)_Final%20Signed.pdf Ripple, retrieved 2026-10-25 | USD 2,382,800,000 as of 2026-10-22 Ripple, retrieved 2026-10-25 |
| World Liberty Financial USD1 | BitGo Bank & Trust, N.A. (issuer/custodian) for World Liberty Financial BitGo USD1 attestation (PDF), retrieved 2026-10-25 | BitGo Bank & Trust, National Association: national trust bank chartered and regulated by the OCC BitGo, retrieved 2026-10-25 | Monthly independent accountant examination (AICPA 2025 criteria) BitGo, retrieved 2026-10-25 | 2026-08 BitGo, retrieved 2026-10-25 | https://landing.bitgo.com/rs/552-OGK-141/images/USD1_Reserve_Attestation_Report_August_2026.pdf BitGo, retrieved 2026-10-25 | USD 4,195,303,689 as of 2026-08-31 BitGo USD1 attestation (PDF), retrieved 2026-10-25 |
| Circle USDC | Circle Internet Financial, LLC (US); Circle Internet Financial Europe SAS co-issues in the EEA Circle, retrieved 2026-10-25 | Regulated in the US as stored value/prepaid access under state money-transmission laws; NYDFS licensed Circle, retrieved 2026-10-25 | Weekly reserve disclosure + monthly Deloitte examination (AICPA) Circle, retrieved 2026-10-25 | 2026-08-31 Circle USDC examination report, retrieved 2026-10-25 | https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/USDCAttestationReports/2026/2026%20USDC_Examination%20Report%20August%2026.pdf Circle USDC examination report, retrieved 2026-10-25 | USD 71,542,295,767 as of 2026-10-25 Circle stablecoin API, retrieved 2026-10-25 |
| Ethena USDe | Ethena (BVI) Limited Ethena, retrieved 2026-10-25 | Unknown | Monthly custodian attestations (Copper, Ceffu, Kraken, Anchorage) Ethena, retrieved 2026-10-25 | 2026-09 Ethena, retrieved 2026-10-25 | https://ethena.fi/blog/custodian-attestations-of-assets-backing-usde-september-3 Ethena, retrieved 2026-10-25 | USD 4,584,247,594 as of 2026-10-25 Ethena, retrieved 2026-10-25 |
| Paxos USDG | Paxos Digital Singapore Pte. Ltd. (MAS Major Payments Institution); also Paxos Issuance Europe (FIN-FSA, MiCA) Paxos, retrieved 2026-10-25 | Monetary Authority of Singapore; Finnish FSA under MiCA Paxos, retrieved 2026-10-25 | Monthly reserve reports Paxos, retrieved 2026-10-25 | Unknown | https://www.paxos.com/usdg-transparency Paxos, retrieved 2026-10-25 | Unknown |
| Sky USDS | Sky Protocol (decentralized; successor to MakerDAO) Sky, retrieved 2026-10-25 | Unknown | On-chain collateral (no fiat reserve attestation) Sky, retrieved 2026-10-25 | Unknown | Unknown | USD 6,803,276,292 as of 2026-10-25 Sky chainlog (contract registry), retrieved 2026-10-25 |
| Tether USDT | Tether International, S.A. de C.V. (El Salvador) Tether, retrieved 2026-10-25 | El Salvador-based; not a US-regulated issuer. Tether launched a separate US-standards token (USAT) issued through Anchorage Digital in 2026 CoinDesk, retrieved 2026-10-25 | Quarterly attestation prepared by BDO Tether, retrieved 2026-10-25 | 2026-06-30 Tether, retrieved 2026-10-25 | https://tether.io/news/tether-posts-strong-q2-performance-generates-1-5b-net-operating-profit-maintains-4-11b-reserve-buffer-and-expands-gold-holdings-to-more-than-146-tons/ Tether, retrieved 2026-10-25 | USD 182,493,797,362 as of 2026-10-25 Tether transparency data, retrieved 2026-10-25 |
| Ethena USDtb | Anchorage Digital Bank, N.A. (issuance, redemption and reserve management since Oct 13, 2025) USDtb docs, retrieved 2026-10-25 | Issued by Anchorage Digital Bank, N.A., a national trust bank; reserve held in a South Dakota express trust with ADB as trustee Anchorage Digital Bank, retrieved 2026-10-25 | Transparency dashboard of reserve assets; ADB publishes reserve composition as required by US federal law Anchorage Digital Bank, retrieved 2026-10-25 | Unknown | https://usdtb.money/transparency USDtb docs, retrieved 2026-10-25 | USD 477,312,143 as of 2026-10-25 USDtb docs, retrieved 2026-10-25 |
Background on what US law requires: stablecoin vs tokenized money market fund, and GENIUS Act reserve rules.
Monthly. GENIUS Act Sec. 4(a)(1)(C) requires a permitted issuer to publish the monthly composition of its reserves on its website, and Sec. 4(a)(3) requires a registered public accounting firm to examine that report each month. Source: GENIUS Act text, govinfo.