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
$2.4B
Total circulating
Currencies
24
Fiat denominations
Products
60
Stablecoin tokens
Chains
14
With non-USD stables
Circulating Supply by Currency (non-USD)
Regional Breakdown
| Region | Products | 30d Growth | Top Issuers |
|---|---|---|---|
| Other | 7 | +1.7% | A7A5, OJSC Virtual Asset Issuer (KGST), AUDC Pty Ltd (Novatti Group) |
| Europe | 22 | -0.3% | Circle Internet Financial, Société Générale–FORGE, Monerium ehf |
| East Asia | 9 | +33.3% | JPYC Inc., SBI Shinsei Trust Bank, GMO-Z.com Trust Company (GYEN) |
| LATAM | 12 | +0.2% | Transfero, Crown Digital, BRLA Digital |
| ASEAN | 5 | +0.1% | StraitsX, Rupiah Token, PT IDRX Indo Inovasi |
| Africa | 5 | +3.2% | Virtune (ZARP), Coinazer (cNGN), Mento Labs |
Non-USD Stablecoin Directory
Searchable catalog of all non-USD stablecoins
| Symbol | Name | Currency | Region | Issuer | Supply | 30d | Chains |
|---|---|---|---|---|---|---|---|
| A7A5 | A7A5 | RUB | Other | A7A5 | $998.9M | +1.4% | 2 |
| EURC | Euro Coin | EUR | Europe | Circle Internet Financial | $525.3M | -1.0% | 9 |
| EURCV | EUR CoinVertible | EUR | Europe | Société Générale–FORGE | $170.1M | +2.4% | 4 |
| JPYSC | JPYSC | JPY | East Asia | SBI Shinsei Trust Bank | $126.9M | +1.1% | 1 |
| JPYC | JPY Coin | JPY | East Asia | JPYC Inc. | $98.2M | +197.0% | 4 |
| BRZ | Brazilian Digital Token | BRL | LATAM | Transfero | $90.6M | -0.1% | 19 |
| BRLV | Crown BRLV | BRL | LATAM | Crown Digital | $71.2M | -1.8% | 2 |
| ZCHF | Frankencoin | CHF | Europe | Frankencoin Association | $41.3M | -3.6% | 8 |
| EURI | Eurite | EUR | Europe | Eurite | $37.5M | -2.3% | 2 |
| EURE | Monerium EURe (EUR e-money) | EUR | Europe | Monerium ehf | $33.5M | +2.8% | 8 |
| EURE | Monerium EURe (legacy V1) | EUR | Europe | Monerium ehf | $28.7M | +3.8% | 3 |
| tGBP | Tokenised GBP | GBP | Europe | BCP Technologies Ltd. | $26.4M | -1.5% | 8 |
| BRLA | BRLA Digital | BRL | LATAM | BRLA Digital | $24.9M | -2.9% | 3 |
| JPYC | JPY Coin v2 | JPY | East Asia | JPYC Inc. | $22.8M | +1.6% | 6 |
| XSGD | XSGD | SGD | ASEAN | StraitsX | $16.0M | -1.9% | 9 |
1 / 4(60 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 | 101 | $4.1B | USD | USDtb ($398.4M), U ($356.9M), EURC ($342.8M) |
| tron | 7 | $1.3B | RUB | A7A5 ($996.6M), TUSD ($170.1M), U ($55M) |
| solana | 35 | $1.0B | USD | SOFID ($230.6M), USX ($214.4M), CASH ($130.5M) |
| bsc | 37 | $936.1M | USD | USDF ($114M), USDD ($113.9M), USDF ($111.2M) |
| avalanche | 25 | $878.0M | USD | USDC ($397M), USDT ($374.1M), JPYC ($20.4M) |
| polygon | 39 | $822.1M | USD | pUSD ($490.8M), MAI ($213.7M), JPYC ($47.6M) |
| tempo | 4 | $592.5M | USD | OUSD ($447.2M), RD ($85.7M), pathUSD ($59.6M) |
| celo | 18 | $523.7M | USD | USDT ($469.8M), BRLA ($20.9M), USDC ($15M) |
| provenance | 1 | $478.3M | USD | YLDS ($478.3M) |
| hedera | 1 | $449.9M | USD | USDC ($449.9M) |
| sui | 5 | $434.0M | USD | USDC ($299.4M), USDSUI ($76.9M), FDUSD ($43.5M) |
| aptos | 3 | $386.2M | USD | USDC ($357.6M), usDCBL ($28.5M), USD1 ($0M) |
| monad | 4 | $382.7M | USD | USDC ($214.6M), AUSD ($148.1M), mUSD ($20M) |
| arbitrum | 28 | $349.3M | USD | USDAI ($247.1M), PYUSD ($45.4M), USDG ($13.1M) |
| base | 57 | $340.8M | USD | cgUSD ($75.7M), BRLV ($71.2M), EURC ($56.9M) |
| sonic | 8 | $189.0M | USD | USDC ($187.9M), USSD ($1M), msUSD ($0.1M) |
| optimism | 12 | $183.6M | USD | USDC ($155.1M), MAI ($19.3M), MONEY ($5M) |
| near | 2 | $171.3M | USD | USDC ($107.1M), USDT ($64.1M) |
| starknet | 1 | $134.0M | USD | USDC ($134M) |
| ink | 3 | $113.8M | USD | USDG ($62.6M), USDC ($51.2M), PYUSD ($0M) |
1 / 3(45 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 | — | — | — | — | — | — | — | — | — | — | — | — | — | $996.6M |
| ethereum | $571.0M | $3.5M | $165.6M | $20.3M | $37.6M | $9.0M | $8.1M | $2.5M | — | $211.4K | $100 | $2.4M | $7.5M | $2.3M |
| solana | $121.8M | $38.4M | $53 | $130.2K | $1.2M | — | $72.0K | $22.2K | — | — | $74.3K | $393.7K | — | — |
| base | $57.1M | $71.6M | $5.4K | $7.6M | $2.1M | $4.0M | $2.1M | $260.1K | — | $331.0K | $730 | $968.3K | $1.0M | — |
| polygon | $8.9M | $18.0M | $79.1M | $108.7K | $3.3K | $1.7M | $506.7K | $913.1K | — | $69.3K | $10 | $616.0K | $24.0K | — |
| avalanche | $6.8M | $19.2M | $21.3M | $21 | $669.6K | $1.3M | — | — | — | $268.4K | — | — | — | — |
| gnosis | $42.7M | $503.8K | $139.4K | — | $1.8M | — | — | $1.9K | — | $3.8K | — | — | $5.8K | — |
| bsc | $3.4M | $19.2M | — | $21.6K | — | — | — | $1.8M | — | $4.9K | $804.5K | — | $52.9K | — |
| celo | $1.7M | $21.1M | — | $347.7K | $16.7K | — | — | $647.9K | — | — | — | $670 | — | — |
| xrp_ledger | $11.3M | — | — | — | — | — | $221.2K | — | — | — | — | — | — | — |
| arbitrum | $4.7M | — | $9.4K | $60.7K | $18.7K | $17.0K | — | — | — | $2.1M | — | — | — | — |
| worldchain | $665.0K | $92.7K | — | — | — | — | — | $38 | — | $51.6K | — | — | $242.9K | — |
| optimism | — | — | $39.8K | — | $437.6K | — | — | — | — | — | — | — | — | — |
| plasma | $395.6K | — | — | — | — | — | — | — | — | — | — | — | — | — |
| arc | — | — | — | $265.0K | — | — | — | — | — | — | — | — | — | — |
| linea | $196.9K | — | — | — | — | — | — | — | — | — | — | — | — | — |
| rootstock | — | $191.7K | — | — | — | — | — | — | — | — | — | — | — | — |
| fantom | $84.3K | — | — | — | — | — | — | — | — | — | — | — | — | — |
| tempo | — | — | — | $66.3K | — | — | — | — | — | — | — | — | — | — |
| sonic | — | — | — | — | $2 | — | — | — | — | — | — | — | — | — |
Issuer Landscape
| Issuer | Currencies | # Curr | Products | Supply | Peg | Deploys |
|---|---|---|---|---|---|---|
| A7A5 | RUB | 1 | 1 | $998.9M | fiat_backed | 2 |
| Circle Internet Financial | EUR | 1 | 1 | $525.3M | fiat_backed | 9 |
| Société Générale–FORGE | EUR | 1 | 1 | $170.1M | fiat_backed | 4 |
| JPYC Inc. | JPY | 1 | 3 | $133.0M | fiat_backed | 13 |
| SBI Shinsei Trust Bank | JPY | 1 | 1 | $126.9M | fiat_backed | 1 |
| Transfero | BRL | 1 | 1 | $90.6M | fiat_backed | 19 |
| Crown Digital | BRL | 1 | 1 | $71.2M | rwa_backed | 2 |
| Monerium ehf | EUR | 1 | 2 | $62.3M | fiat_backed | 11 |
| Frankencoin Association | CHF | 1 | 1 | $41.3M | crypto_backed | 8 |
| Eurite | EUR | 1 | 1 | $37.5M | fiat_backed | 2 |
| BCP Technologies Ltd. | GBP | 1 | 1 | $26.4M | fiat_backed | 8 |
| BRLA Digital | BRL | 1 | 1 | $24.9M | fiat_backed | 3 |
| StraitsX | IDR, SGD | 2 | 2 | $16.0M | fiat_backed | 12 |
| Schuman Financial | EUR | 1 | 1 | $12.3M | fiat_backed | 5 |
| Ripio | CLP, BRL, MXN, ARS, COP, PEN | 6 | 6 | $10.9M | fiat_backed | 36 |
1 / 3(44 rows)
Usage & Activity
Transfer velocity, micro-payments, and X402-ready stablecoins
Transfer Activity & Velocity (30d)
| Symbol | Name | Currency | Transfers | Volume | Avg Size | Velocity |
|---|---|---|---|---|---|---|
| AUDF | Forte AUD | AUD | 5,035 | $505.0M | $100.3K | 146.02 |
| yzUSD | Yuzu USD | USD | 498 | $41.9M | $84.2K | 80.08 |
| cNGN | Compliant Naira | NGN | 89,829 | $54.8M | $611 | 62.35 |
| mUSD | MetaMask USD | USD | 470,366 | $1.3B | $2.9K | 38.6 |
| BRLA | BRLA Digital | BRL | 136,229 | $926.8M | $6.8K | 37.22 |
| MXNB | MXNB | MXN | 5,299 | $97.4M | $18.4K | 35.84 |
| EURC | Euro Coin | EUR | 3,242,142 | $17.6B | $5.4K | 33.59 |
| pUSD | Plume USD | USD | 28,977 | $79.1M | $2.7K | 32.03 |
| USDB | USDBridge | USD | 916,271 | $3.3B | $3.6K | 31.34 |
| BOLD | Liquity BOLD | USD | 49,958 | $1.0B | $20.3K | 27.17 |
| rUSD | Reservoir rUSD | USD | 1,786 | $9.7M | $5.5K | 25.5 |
| XUSD | StraitsX XUSD | USD | 13,768 | $995.1M | $72.3K | 24.19 |
| BRL1 | BRL1 Stablecoin | BRL | 6,415 | $84.5M | $13.2K | 23.99 |
| GALLEON | Galleon | USD | 131 | $296 | $2 | 20.17 |
| pUSD | Polymarket USD | USD | 177,402,984 | $9.1B | $51 | 18.55 |
1 / 17(241 rows)
Agent Payment Candidates
| Symbol | Currency | Issuer | % Micro | Micro Txns | Chains | Avg Micro $ |
|---|---|---|---|---|---|---|
| GALLEON | USD | Bridge (Stripe) | +100.0% | 92 | 6 | $3 |
| AFRi | USD | Bridge (Stripe) | +100.0% | 51 | 1 | $2 |
| PYREUSD | USD | Bridge (Stripe) | +100.0% | 2 | 1 | $2 |
| GBPA | GBP | Agant Finance Limited | +100.0% | 1 | 5 | $1 |
| MIM | USD | Abracadabra Money | +100.0% | 1 | 1 | $0 |
| YUSD | USD | Yield Yak | +99.4% | 5,902 | 1 | $0 |
| mUSD | USD | Meta USD | +98.9% | 4,607 | 1 | $6 |
| EURS | EUR | STASIS | +97.0% | 3,653 | 2 | $4 |
| BUCK | USD | Bucket Protocol | +96.4% | 591,972 | 1 | $19 |
| USD+ | USD | Overnight Finance | +96.3% | 52,102 | 1 | $15 |
| MONEY | USD | Defi.money | +95.5% | 2,624 | 2 | $7 |
| yUSD | USD | YieldFi | +93.8% | 90 | 7 | $4 |
| USDHL | USD | USDhl | +93.2% | 16,253 | 1 | $9 |
| USH | USD | Hyperstable | +93.0% | 1,753 | 1 | $5 |
| USDGLO | USD | Glo Foundation PBC | +91.2% | 55,556 | 8 | $18 |
1 / 12(177 rows)
X402-Ready Stablecoins (Base + Ethereum)
| Symbol | Currency | Issuer | Chain | Supply | Transfers | Volume |
|---|---|---|---|---|---|---|
| USDtb | USD | Ethena Labs | ethereum | $398.4M | 3,164 | $258.4M |
| U | USD | United Stables Limited | ethereum | $356.9M | 346 | $391.8M |
| EURC | EUR | Circle Internet Financial | ethereum | $342.8M | 85,424 | $2.3B |
| TUSD | USD | TrueCoin LLC | ethereum | $314.6M | 3,002 | $22.8M |
| USDG | USD | Paxos Digital Singapore Pte. Ltd. | ethereum | $289.1M | 149,423 | $7.3B |
| FDUSD | USD | First Digital Labs | ethereum | $214.4M | 654 | $232.3M |
| USAT | USD | Anchorage Digital Bank N. A. | ethereum | $183.2M | 12,006 | $8.9M |
| EURCV | EUR | Société Générale–FORGE | ethereum | $155.9M | 19,392 | $489.4M |
| apxUSD | USD | Apyx | ethereum | $136.2M | 22,595 | $451.4M |
| JPYSC | JPY | SBI Shinsei Trust Bank | ethereum | $126.9M | 4 | $1.4M |
| DOLA | USD | Inverse Finance | ethereum | $106.1M | 20,398 | $118.2M |
| USDR | USD | Ring Labs | ethereum | $100.4M | 909 | $439.8K |
| SOFID | USD | SoFi Bank N.A. | ethereum | $100.0M | 11 | $509 |
| fxUSD | USD | f(x) Protocol | ethereum | $88.9M | 10,555 | $281.0M |
| cUSD | USD | Cap | ethereum | $87.0M | 817 | $25.8M |
1 / 11(158 rows)
Onchain FX Trading
Stablecoin-to-stablecoin DEX swaps across currencies
FX Volume (7d)
$127.9M
DEX-verified swaps
Active FX Pairs
29
FX Traders (7d)
2,337
Unique addresses
DEX Venues
16
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 | 19,010 | 180 | $26.6M | $1.4K |
| USD/EUR | base | aerodrome | uniswap_v3 | 17,595 | 163 | $25.8M | $1.5K |
| USD/EUR | base | tessera | tessera_prop_amm | 5,876 | 567 | $15.5M | $2.6K |
| EUR/USD | base | tessera | tessera_prop_amm | 5,037 | 629 | $14.6M | $2.9K |
| EUR/USD | ethereum | uniswap | uniswap_v4 | 1,306 | 69 | $8.6M | $6.6K |
| USD/EUR | ethereum | uniswap | uniswap_v4 | 1,097 | 59 | $8.3M | $7.5K |
| EUR/USD | ethereum | uniswap | uniswap_v3 | 886 | 62 | $6.3M | $7.2K |
| USD/EUR | ethereum | uniswap | uniswap_v3 | 701 | 63 | $5.8M | $8.3K |
| USD/JPY | polygon | uniswap | uniswap_v4 | 938 | 20 | $2.4M | $2.6K |
| JPY/USD | polygon | uniswap | uniswap_v4 | 1,323 | 21 | $2.4M | $1.8K |
| CHF/USD | ethereum | uniswap | uniswap_v3 | 188 | 37 | $1.4M | $7.4K |
| USD/JPY | ethereum | uniswap | uniswap_v4 | 394 | 31 | $1.1M | $2.7K |
| JPY/USD | ethereum | uniswap | uniswap_v4 | 572 | 37 | $1.0M | $1.8K |
| USD/SGD | base | aerodrome | uniswap_v3 | 2,490 | 54 | $630.9K | $253 |
| SGD/USD | base | aerodrome | uniswap_v3 | 2,520 | 68 | $589.1K | $234 |
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 | 6,665 | 26,427 | $6.0B | polygon, worldchain, bsc, linea, base, plasma, ethereum, solana, celo, arbitrum, avalanche |
| BRL/USD | 789 | 4,594 | $3.7B | base, polygon, ethereum, worldchain, solana, bsc, celo |
| CHF/USD | 329 | 2,922 | $374.0M | ethereum, solana, optimism, base |
| BRL/EUR | 145 | 1,139 | $242.3M | bsc, ethereum, base, polygon, celo, solana, worldchain |
| AUD/USD | 156 | 1,410 | $241.6M | ethereum, base, polygon |
| JPY/USD | 1,179 | 6,521 | $118.9M | avalanche, polygon, base, arbitrum, optimism, ethereum |
| IDR/USD | 92 | 1,627 | $81.6M | bsc, base, polygon, ethereum, solana, celo |
| MXN/USD | 101 | 1,667 | $67.8M | ethereum, polygon, worldchain, bsc, arbitrum, base |
| SGD/USD | 448 | 3,696 | $60.7M | avalanche, base, polygon, arbitrum, solana, ethereum |
| NGN/USD | 56 | 320 | $40.8M | solana, bsc |
| AUD/EUR | 70 | 514 | $33.1M | polygon, base, ethereum |
| KGS/USD | 14 | 62 | $26.8M | bsc |
| EUR/JPY | 150 | 1,479 | $24.2M | base, arbitrum, plasma, bsc, avalanche, linea, ethereum, polygon, celo, worldchain |
| ARS/USD | 212 | 1,291 | $24.0M | base, polygon, ethereum, bsc, worldchain |
| AUD/BRL | 23 | 115 | $20.6M | base, polygon, ethereum |
1 / 4(50 rows)