Emerging Market Stablecoins
Non-USD stablecoin landscape: supply, activity, chain distribution, and onchain FX trading.
Data powered by Allium · Updated daily
Market Overview
How the non-USD stablecoin market is distributed
Non-USD Supply
$8.1B
Total circulating
Currencies
25
Fiat denominations
Products
67
Stablecoin tokens
Chains
17
With non-USD stables
Circulating Supply by Currency (non-USD)
Regional Breakdown
| Region | Products | 30d Growth | Top Issuers |
|---|---|---|---|
| Europe | 28 | -0.9% | RIB Digital Holdings Limited, Circle Internet Financial, STASIS |
| Other | 8 | +4.6% | A7A5, OJSC Virtual Asset Issuer (KGST), AUDC Pty Ltd (Novatti Group) |
| LATAM | 12 | -27.1% | Transfero, BRLA Digital, Ripio |
| East Asia | 8 | -3.1% | JPYC Inc., GMO-Z.com Trust Company (GYEN), KRWQ |
| ASEAN | 5 | -0.1% | StraitsX, Rupiah Token, BLOX |
| Middle East | 1 | — | BiLira |
| Africa | 5 | +1.2% | Virtune (ZARP), Mento Labs, Coinazer (cNGN) |
Non-USD Stablecoin Directory
Searchable catalog of all non-USD stablecoins
| Symbol | Name | Currency | Region | Issuer | Supply | 30d | Chains |
|---|---|---|---|---|---|---|---|
| REUR | Royal Euro | EUR | Europe | RIB Digital Holdings Limited | $5.8B | -0.6% | 3 |
| A7A5 | A7A5 | RUB | Other | A7A5 | $1.1B | +4.8% | 2 |
| EURC | Euro Coin | EUR | Europe | Circle Internet Financial | $492.2M | +1.6% | 6 |
| EURS | STASIS EURO | EUR | Europe | STASIS | $151.3M | -0.3% | 2 |
| EURCV | EUR CoinVertible | EUR | Europe | Société Générale–FORGE | $105.5M | -1.2% | 5 |
| BRZ | Brazilian Digital Token | BRL | LATAM | Transfero | $91.5M | -2.5% | 18 |
| EURI | Eurite | EUR | Europe | Eurite | $57.6M | -3.3% | 2 |
| ZCHF | Frankencoin | CHF | Europe | Frankencoin Association | $40.3M | +3.5% | 8 |
| JPYC | JPY Coin | JPY | East Asia | JPYC Inc. | $37.8M | -4.6% | 9 |
| tGBP | Tokenised GBP | GBP | Europe | BCP Technologies Ltd. | $31.2M | +2.6% | 6 |
| EURE | Monerium EURe (EUR e-money) | EUR | Europe | Monerium ehf | $27.6M | -3.6% | 7 |
| EURE | Monerium EURe (legacy V1) | EUR | Europe | Monerium ehf | $25.9M | -3.9% | 3 |
| BRLA | BRLA Digital | BRL | LATAM | BRLA Digital | $24.1M | +49.6% | 3 |
| XSGD | XSGD | SGD | ASEAN | StraitsX | $19.4M | +4.2% | 9 |
| TRYB | BiLira | TRY | Middle East | BiLira | $13.6M | — | 9 |
1 / 5(67 rows)
Fastest Growing (30-day supply growth)
Chain & Issuer Intelligence
Where emerging stablecoins are deployed and who builds them
Chain Distribution
| Chain | Products | Total Supply | Top Currency | Top 3 Tokens |
|---|---|---|---|---|
| ethereum | 110 | $5.3B | USD | REUR ($1161.7M), USDG ($457.4M), TUSD ($314.4M) |
| tron | 8 | $3.7B | EUR | REUR ($2323.3M), A7A5 ($1108.8M), TUSD ($170M) |
| bsc | 40 | $3.4B | EUR | REUR ($2323.3M), USDF ($116.2M), USDD ($114.1M) |
| solana | 32 | $1.0B | USD | USX ($493.3M), CASH ($125.7M), EURC ($121.9M) |
| avalanche | 27 | $888.0M | USD | USDT ($413.8M), USDC ($375.9M), BRZ ($19.6M) |
| polygon | 43 | $667.4M | USD | pUSD ($387.1M), MAI ($208.9M), JPYC ($30.1M) |
| celo | 23 | $533.0M | USD | USDT ($469.5M), USDC ($21M), BRLA ($20.7M) |
| hedera | 2 | $451.7M | USD | USDC ($449.9M), AUDD ($1.9M) |
| arbitrum | 32 | $426.8M | USD | USDAI ($283.5M), MIM ($64.3M), PYUSD ($35.5M) |
| sui | 4 | $397.9M | USD | USDC ($305.9M), USDSUI ($76.6M), suiUSDe ($13.5M) |
| base | 58 | $300.7M | USD | cgUSD ($75.6M), EURC ($60.2M), DKUSD ($51.7M) |
| monad | 2 | $264.9M | USD | USDC ($231.5M), AUSD ($33.4M) |
| optimism | 15 | $229.7M | USD | USDC ($173.4M), MAI ($18.8M), MIM ($17.8M) |
| starknet | 1 | $174.0M | USD | USDC ($174M) |
| aptos | 2 | $165.9M | USD | USDC ($124.7M), usDCBL ($41.2M) |
| near | 2 | $140.8M | USD | USDC ($79.7M), USDT ($61.1M) |
| sonic | 8 | $137.3M | USD | USDC ($134.8M), USSD ($2.2M), msUSD ($0.2M) |
| ink | 2 | $116.3M | USD | USDC ($66.2M), USDG ($50.1M) |
| codex | 1 | $50.7M | USD | USDC ($50.7M) |
| sei | 2 | $46.6M | USD | USDC ($46.6M), rUSD ($0M) |
1 / 3(42 rows)
Chain x Currency Matrix
Blank cells = deployment gap / opportunity
| Chain | EUR | BRL | JPY | GBP | CHF | SGD | AUD | IDR | TRY_ | MXN | NGN | ZAR | ARS | RUB |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| tron | $2.3B | — | — | — | — | — | — | — | — | — | — | — | — | $1.1B |
| bsc | $2.3B | $19.6M | — | $138.1K | — | — | — | $2.6M | $205.4K | $6.5K | $148.1K | — | $38.9K | — |
| ethereum | $1.8B | $2.9M | $11.8M | $23.3M | $36.6M | $11.0M | $9.6M | $2.5M | $2.7M | $95.3K | $99 | $2.6M | $2.5M | $2.2M |
| solana | $134.7M | $39.3M | $53 | $122.8K | $1.4M | — | $1.9K | $25.0K | $175.1K | — | $0 | $390.8K | — | — |
| base | $60.6M | $49.4K | $22.9K | $7.4M | $2.2M | $5.5M | $0 | $293.2K | $176.5K | $6.4K | $724 | $952.6K | $104.5K | — |
| polygon | $6.9M | $15.2M | $38.2M | $404.6K | $3.3K | $1.5M | $539.3K | $1.1M | $366.9K | $118.9K | $9 | $613.4K | $6.2K | — |
| gnosis | $39.1M | $431.8K | $106.2K | — | $1.8M | — | — | $1.9K | — | $6.5K | — | — | $6.2K | — |
| avalanche | $7.1M | $19.6M | $2.9M | $1.4K | $690.1K | $1.3M | — | — | $269.2K | $133.5K | — | — | — | — |
| celo | $2.3M | $20.9M | $103.4K | $428.0K | $103.2K | — | $73.0K | — | — | — | — | $13.4K | — | — |
| plasma | $2.7M | — | — | — | — | — | — | — | $9.2M | — | — | — | — | — |
| xrp_ledger | $11.6M | — | — | — | — | — | $226.3K | — | — | — | — | — | — | — |
| arbitrum | $1.5M | — | $9.4K | — | $33.1K | $12.7K | — | — | — | $1.3M | — | — | — | — |
| hedera | — | — | — | — | — | — | $1.9M | — | — | — | — | — | — | — |
| worldchain | $475.5K | $64.3K | — | — | — | — | — | $38 | $471.5K | $24.6K | — | — | $182.5K | — |
| linea | $430.4K | — | — | — | — | — | — | — | — | — | — | — | — | — |
| rootstock | — | $196.3K | — | — | — | — | — | — | — | — | — | — | — | — |
| fantom | $86.0K | — | — | — | — | — | — | — | — | — | — | — | — | — |
| optimism | $125 | — | $46.1K | — | $7.1K | — | — | — | — | — | — | — | — | — |
| fraxtal | $1.2K | — | — | — | $469 | — | — | — | — | — | — | — | — | — |
| sonic | — | — | — | — | $3 | — | — | — | — | — | — | — | — | — |
Issuer Landscape
| Issuer | Currencies | # Curr | Products | Supply | Peg | Deploys |
|---|---|---|---|---|---|---|
| RIB Digital Holdings Limited | EUR | 1 | 1 | $5.8B | fiat_backed | 3 |
| A7A5 | RUB | 1 | 1 | $1.1B | fiat_backed | 2 |
| Circle Internet Financial | EUR | 1 | 1 | $492.2M | fiat_backed | 6 |
| STASIS | EUR | 1 | 1 | $151.3M | fiat_backed | 2 |
| Société Générale–FORGE | EUR | 1 | 1 | $105.5M | fiat_backed | 5 |
| Transfero | BRL | 1 | 1 | $91.5M | fiat_backed | 18 |
| Eurite | EUR | 1 | 1 | $57.6M | fiat_backed | 2 |
| Monerium ehf | EUR | 1 | 2 | $53.5M | fiat_backed | 10 |
| JPYC Inc. | JPY | 1 | 2 | $46.9M | fiat_backed | 12 |
| Frankencoin Association | CHF | 1 | 1 | $40.3M | crypto_backed | 8 |
| BCP Technologies Ltd. | GBP | 1 | 1 | $31.2M | rwa_backed | 6 |
| BRLA Digital | BRL | 1 | 1 | $24.1M | fiat_backed | 3 |
| StraitsX | IDR, SGD | 2 | 2 | $19.4M | fiat_backed | 12 |
| BiLira | TRY | 1 | 1 | $13.6M | fiat_backed | 9 |
| Schuman Financial | EUR | 1 | 1 | $8.2M | fiat_backed | 5 |
1 / 4(46 rows)
Usage & Activity
Transfer velocity, micro-payments, and X402-ready stablecoins
Transfer Activity & Velocity (30d)
| Symbol | Name | Currency | Transfers | Volume | Avg Size | Velocity |
|---|---|---|---|---|---|---|
| HONEY | Honey | USD | 1,460,163 | $295.2B | $202.1K | 12,777.75 |
| USDHL | Hyper USD | USD | 13,233 | $172.7M | $13.1K | 155.2 |
| rUSD | Reservoir rUSD | USD | 1,489 | $41.1M | $27.6K | 89.65 |
| AUDm | Mento Australian Dollar | AUD | 441 | $4.0M | $9.1K | 54.74 |
| AUDF | Forte AUD | AUD | 1,490 | $113.3M | $76.0K | 32.03 |
| CADm | Mento Canadian Dollar | CAD | 208 | $1.5M | $7.4K | 21.87 |
| ZARm | Mento South African Rand | ZAR | 366 | $276.6K | $756 | 20.57 |
| MXNB | MXNB | MXN | 2,895 | $29.4M | $10.2K | 17.95 |
| GBPm | Mento British Pound | GBP | 815 | $4.2M | $5.2K | 10.19 |
| msUSD | Metronome Synth USD | USD | 33,322 | $235.2M | $7.1K | 9.03 |
| BRLm | Mento Brazilian Real | BRL | 4,718 | $1.9M | $403 | 8.12 |
| BOLD | Liquity BOLD | USD | 9,900 | $241.0M | $24.3K | 7.21 |
| pUSD | Polymarket USD | USD | 58,330,442 | $2.6B | $45 | 6.75 |
| BRL1 | BRL1 Stablecoin | BRL | 944 | $12.9M | $13.6K | 6.05 |
| USDon | Ondo U.S. Dollar Token | USD | 126,586 | $425.1M | $3.4K | 5.93 |
1 / 14(200 rows)
Agent Payment Candidates
| Symbol | Currency | Issuer | % Micro | Micro Txns | Chains | Avg Micro $ |
|---|---|---|---|---|---|---|
| OUSD | USD | Bridge (Stripe) | +100.0% | 56 | 3 | $2 |
| sEUR | EUR | Synthetix | +100.0% | 51 | 1 | $7 |
| AFRi | USD | Bridge (Stripe) | +100.0% | 12 | 1 | $1 |
| PHT | USD | PHT Community | +100.0% | 9 | 3 | $26 |
| EUROe | EUR | Membrane Finance Oy | +100.0% | 8 | 6 | $1 |
| EURR | EUR | Bridge (Stripe) | +100.0% | 4 | 2 | $1 |
| HUSD | USD | Stable Universal / HUSD | +100.0% | 2 | 2 | $0 |
| YUSD | USD | Yield Yak | +99.3% | 11,616 | 1 | $0 |
| mUSD | USD | Meta USD | +98.9% | 5,406 | 1 | $6 |
| satUSD | USD | River | +96.5% | 22,499 | 11 | $6 |
| GHSm | GHS | Mento Labs | +96.0% | 16,308 | 1 | $12 |
| VEUR | EUR | VNX Exchange | +95.9% | 10,480 | 11 | $15 |
| USD2 | USD | Burner Wallet | +94.4% | 84 | 1 | $6 |
| BUCK | USD | Bucket Protocol | +94.0% | 449,292 | 1 | $22 |
| USH | USD | Hyperstable | +93.9% | 8,097 | 1 | $6 |
1 / 13(186 rows)
X402-Ready Stablecoins (Base + Ethereum)
| Symbol | Currency | Issuer | Chain | Supply | Transfers | Volume |
|---|---|---|---|---|---|---|
| REUR | EUR | RIB Digital Holdings Limited | ethereum | $1.2B | 0 | $0 |
| USDG | USD | Paxos Digital Singapore Pte. Ltd. | ethereum | $457.4M | 5,204 | $499.4M |
| TUSD | USD | TrueCoin LLC | ethereum | $314.4M | 427 | $1.5M |
| EURC | EUR | Circle Internet Financial | ethereum | $304.0M | 11,475 | $276.7M |
| FDUSD | USD | First Digital Labs | ethereum | $228.9M | 113 | $148.7M |
| apxUSD | USD | Apyx | ethereum | $224.7M | 12,835 | $457.4M |
| USDa | USD | Avalon Labs | ethereum | $213.1M | 19 | $23.6K |
| USDD | USD | Tron DAO | ethereum | $181.4M | 1,556 | $138.1M |
| MIM | USD | Abracadabra Money | ethereum | $173.7M | 245 | $564.3K |
| USAT | USD | Tether Holdings Limited | ethereum | $167.2M | 6,873 | $7.0M |
| EURS | EUR | STASIS | ethereum | $148.9M | 652 | $730.4K |
| USDat | USD | Saturn Credit | ethereum | $141.5M | 3,432 | $183.9M |
| frxUSD | USD | Frax Finance | ethereum | $110.2M | 5,341 | $128.5M |
| FRAX | USD | Frax Finance | ethereum | $109.8M | 4,001 | $19.8M |
| USDR | USD | Ring Labs | ethereum | $100.3M | 199 | $364.0K |
1 / 12(168 rows)
Onchain FX Trading
Stablecoin-to-stablecoin DEX swaps across currencies
FX Volume (7d)
$123.2M
DEX-verified swaps
Active FX Pairs
30
FX Traders (7d)
2,614
Unique addresses
DEX Venues
15
FX Pair Volume (7d)
USD pairCross-emerging pair
FX Venue Breakdown
| Pair | Chain | DEX | Protocol | Trades | Traders | Volume | Avg Size |
|---|---|---|---|---|---|---|---|
| EUR/USD | base | aerodrome | uniswap_v3 | 29,936 | 143 | $33.1M | $1.1K |
| USD/EUR | base | aerodrome | uniswap_v3 | 25,591 | 132 | $32.8M | $1.3K |
| USD/AUD | polygon | uniswap | uniswap_v4 | 161 | 10 | $6.7M | $41.8K |
| EUR/USD | ethereum | uniswap | uniswap_v3 | 1,033 | 74 | $6.6M | $6.4K |
| AUD/USD | polygon | uniswap | uniswap_v4 | 152 | 10 | $6.5M | $42.8K |
| USD/EUR | ethereum | uniswap | uniswap_v3 | 827 | 70 | $6.2M | $7.5K |
| USD/EUR | base | tessera | tessera_prop_amm | 852 | 438 | $4.7M | $5.5K |
| EUR/USD | ethereum | uniswap | uniswap_v4 | 1,172 | 61 | $2.9M | $2.5K |
| USD/EUR | ethereum | uniswap | uniswap_v4 | 1,070 | 53 | $2.8M | $2.7K |
| EUR/USD | base | tessera | tessera_prop_amm | 1,085 | 744 | $2.1M | $1.9K |
| EUR/USD | base | pancakeswap | pancakeswap_v3 | 3,928 | 74 | $1.4M | $363 |
| USD/EUR | base | pancakeswap | pancakeswap_v3 | 3,587 | 77 | $1.4M | $389 |
| CHF/USD | ethereum | uniswap | uniswap_v3 | 368 | 56 | $934.7K | $2.5K |
| USD/AUD | ethereum | uniswap | uniswap_v4 | 269 | 28 | $840.2K | $3.1K |
| USD/JPY | polygon | uniswap | uniswap_v4 | 562 | 14 | $828.2K | $1.5K |
1 / 4(50 rows)
Wallet FX Demand Signal
Wallets transacting in 2+ currency stablecoins within the same day — signals latent FX demand
| Pair | Wallets | Events | Est. Volume | Chains |
|---|---|---|---|---|
| EUR/USD | 5,172 | 23,973 | $4.1B | linea, base, solana, bsc, arbitrum, polygon, plasma, celo, ethereum, avalanche |
| BRL/USD | 808 | 4,114 | $1.6B | base, polygon, ethereum, solana, celo, bsc |
| TRY/USD | 7 | 81 | $366.9M | avalanche, plasma, base, ethereum |
| CHF/USD | 308 | 2,757 | $195.8M | ethereum, solana, avalanche, celo, base, optimism, polygon |
| BRL/EUR | 142 | 1,023 | $157.5M | celo, bsc, solana, base, ethereum, polygon |
| MXN/USD | 65 | 954 | $153.5M | polygon, arbitrum, avalanche, ethereum, bsc, base |
| AUD/USD | 155 | 1,420 | $109.4M | polygon, base, celo, ethereum |
| IDR/USD | 108 | 1,247 | $86.9M | base, solana, ethereum, bsc, polygon |
| SGD/USD | 519 | 4,421 | $69.2M | solana, arbitrum, polygon, ethereum, avalanche, base |
| EUR/TRY | 2 | 26 | $49.0M | arbitrum, avalanche, linea, polygon, base, plasma, bsc, celo, ethereum |
| ARS/USD | 34 | 407 | $39.8M | base, bsc, ethereum |
| GBP/USD | 115 | 1,373 | $38.8M | base, polygon, ethereum, bsc, celo, solana |
| JPY/USD | 728 | 5,267 | $37.7M | avalanche, celo, ethereum, polygon, base, optimism |
| BRL/TRY | 1 | 9 | $31.8M | celo, polygon, base |
| EUR/MXN | 31 | 339 | $22.1M | polygon, arbitrum, ethereum, bsc, celo, plasma, base, linea, avalanche |
1 / 4(50 rows)