Methodology

How we get it. We read totalSupply onchain from each chain and subtract named issuer treasuries. Supply on a chain is the sum of those reads. Bridged copies count once.

Chart start. Charts start in Jan 2020. For a stablecoin that launched earlier, the chart starts there and earlier supply isn't shown.

Bridged copies. Bridged copies of a stablecoin are left out of supply totals, so the same coins are not counted twice. Their contracts are still listed on the stablecoin's page, marked “Bridged, not counted in supply”.

Chains without past supply reads. We read today's supply on Algorand, Noble, Hedera and ICP onchain, but not past supply there. Charts use DefiLlama's series for these chains where it has one; where it doesn't, the chart leaves that chain out or shows it as “Chain unknown”. Contracts on these chains are still listed, with a link to the chain's block explorer. Which stablecoins this affects is in each issuer's FAQ.

Replaced contracts. When an issuer replaces a stablecoin's contract, we read the old contract up to the switch, then the new one, and join the two into one line, counted once. Example: Monerium.

Turnover screen. Where we read transfers ourselves, a contract's transfer volume, transfer count and active wallets are left out when its monthly transfer volume was more than 3 times its supply in a recent month. That much movement is a few wallets passing the same coins back and forth, not use. Their supply still counts. Which stablecoins are held out is in each issuer's FAQ.

Known gaps. Each issuer’s known gaps are listed in the FAQ on its page. Exchange rates before July 2022: a few currencies have no monthly reference rate from a central bank or aggregator before then, so their USD values start in July 2022.

What it is. Every stablecoin issued on the chains we read, minus wallets a public source names as the issuer's (not issued yet, treasury or reserve, or waiting to be burned). Each stablecoin's wallets are listed in the FAQ on its own page. When that page says an exclusion is our own on-chain inference, no public source names the wallet.

BBRL on XRPL. Two Braza accounts are left out of supply. Each one is issuer-side stock, not circulating stablecoins. The Domain is on the account page. Balances are from ledger 107727928, closed 2026-10-17 23:59:52 UTC.

• r9EFydQg8FSPd2Zgt8fh8s4mQYWYM2ZEXK (Domain braza.uk/corporate-account): the corporate account, 43,017,506.79 BBRL.
• rP1rFtLizETzwySJQTRKzLk7F5ZH7NmPqv (Domain brazagroup.com/stablecoins): funded by the same account as the corporate wallet, BBRL straight from the issuer, 11,728,315.97 BBRL.

rfRE2WcLHmoTJ31GD6HxysckieZNYMt4GX is counted, 405,141.31 BBRL. Its Domain is Braza's retail app (braza.uk/braza-on), and it has paid third-party accounts. Who owns the balance is unverified.

EURQ on XRPL. Both Quantoz accounts are left out of supply. The exclusion is our own on-chain inference from the source transactions, not a name a public source published. The stablecoin page lists a wallet under Left out of supply only when its balance is at least $1,000. The smaller account stays in this list.

• rsTXamYqHPDaNQPKejfRavmwPevuAkPQeT: Quantoz EURQ mint wallet: the issuer paid it 1 and then 999,999 EURQ on 2025-10-21. Balance 999,977.5 EURQ. Source transaction
• rBYDGr5cvKNC4jCF6tvqNRTpQ7ap15SgV: Deployer that funded the EURQ issuer with 2 XRP (C5BD93A58CC1EAF04499066A02AE2D8C24B7408196EF87026C3E1B98BD944647) and the mint wallet with 4 XRP (07115C4711033407DB614F3F34BC6768B01F2D56C21F2F9BC4825C98723A4C68) on 2025-10-21; it holds the only EURQ outside the mint wallet. Balance 22.5 EURQ. Source transaction

IDRP on Polygon. mint() on IDRP.sol credits only the depository, 0x5a84ce5dd91e965b08e16809a966c83d46ab50d3. Six more wallets hold issuer distribution stock and are left out. 0x732c… and 0x16ce… are funded by the depository. They send stock to a burn or to the IDRPController, and they also pay third-party wallets (0x834b…, 0x9dc0…, 0x344b…, 0x6cb5…, 0x2388…) that then burn and hold about nothing today. 0xb447… also sent smaller amounts to third parties. The 30 Nov 2025 read was 12.50bn in the depository and 875m in the distribution wallet 0x732c…. The 31 Jan 2026 read was the low one: the months on either side were stock in 0x0cef…, 0x16ce…, 0xc0ad…, and then in 0x88ca… and 0xb447…. The 28 Feb 2026 read sits between 25,139,990,000 sent to 0x88ca… and 25,140,000,000 sent on to the controller.

IDRP on Kaia. Wallet 0xced9894cb05c4fe41dcd652ab9bed71667e18a55 held 6,012,964,064.54 IDRP at block 230078830, about 32% of the Kaia supply we count as circulating that day. We count that balance as circulating on our own reading. It looks like a customer or custodian wallet, not an issuer wallet.

How we check it. We compare with DefiLlama where it lists the stablecoin. We show our read, and DefiLlama's when a chain read is missing or the gap is not yet explained. On this data: 27 within 1% (cross-checked), 11 differ and we show ours with the reason, 1 shows DefiLlama's figure because a chain read is missing or failed, 2 show DefiLlama's figure with an alert until the gap is explained, and 25 are not on DefiLlama.

History. History is the same onchain read, taken on the 1st of each month, or daily from our own snapshots. Past supply is a totalSupply read at a past block, where we can make one. Mint and burn events are the count where we use them. Where we have neither, the chart uses DefiLlama's series for that chain and names it. Hyperliquid L1 starts at our first daily read, because its node has no past state. No point is estimated or filled in. A chain with no earlier read is marked on the chart on the day we first counted it. That step is the chain joining the total, not new stablecoins, and earlier days are not filled in. 3 of 66 stablecoins use DefiLlama's daily series because we can't yet read their past supply on every chain.

7-day and 30-day changes. Measured in each stablecoin's own currency, so exchange-rate moves don't count as growth; in USD the change is valued at today's price. A currency's 30-day change is its total supply now vs 30 days ago, across every stablecoin pegged to it, priced or not. The currency page and the rankings show this one figure. The 30-day change leaves out chains published as current supply only. Today's supply includes them.

Large moves. A stablecoin that moved over 100% in 30 days keeps its figure, marked “Large 30d move, check source” and listed below. It is not capped or dropped.

Blank changes. We leave a currency's 30-day change blank (a dash, never a zero) when one stablecoin with no USD price causes more than half of it. A currency with only one stablecoin shows that stablecoin's own change, unless the move is over 100%. On this data: IDR (IDRT), HKD (HKDAP) and MYR (MYRT).

How we get it. The home page chart is the non-USD share of stablecoin supply. Non-USD is the priced supply on the other charts: contract reads, or DefiLlama's history where we cannot read the past yet, in US dollars at the trading price or the reference FX rate. USD is the circulating supply of stablecoins pegged to the US dollar, from DefiLlama's public stablecoin chart (totalCirculatingUSD for peggedUSD only). No API key. The snapshot stores that URL and the time it was fetched.

What is left out. Floating pegs (DefiLlama's peggedVAR), gold, and commodity pegs are not in the USD total and are not in our non-USD total. DefiLlama's own totals for the euro, the real, and other non-USD pegs are not used. The non-USD figure is the one on this site.

Gaps. The home chart is one line of non-USD share. Weekly is each week. Monthly is the last measured week of the month. Yearly is the last measured week of the year. Where we have no non-USD measurement, or DefiLlama has no USD total in that week, that period is a gap in the line. It does not draw $0 or 0%, and it does not connect across the gap.

Share. Non-USD share is our supply divided by our supply plus the USD total. The bottom of the axis does not go below 0%. The top fits the highest measured share, with a little room above it. It is not a 0% to 100% scale.

Today's price. The deepest pool against USDC or USDT (taken as $1) on Uniswap v3, Uniswap v4, Aerodrome Slipstream or Curve, preferring one with at least $10,000 on each side. We use it when DefiLlama has no price or agrees within 3%. Otherwise we use DefiLlama's price and say so. When DefiLlama has no price, a pool more than 10% off the ECB reference rate is not used. 32 of 66 stablecoins use a checked pool price.

Thin pools. When no pool has $10,000 on each side, the deepest pool with at least $1,000 on each side can still set the price, under the same checks, but only when DefiLlama has no price. That price is labelled "Thin pool" and shows how much is on each side, in USD.

Same block. Each run reads every pool on a chain at one block: the last block at or before 06:00 UTC, the same height as the supply read. The block is saved for each chain, and each pool records the block it was read at. If a chain's read fails, its tokens keep their last good prices for up to 3 days.

Past prices. Past USD values use DefiLlama's daily price. A day's price is skipped as a glitch if it is more than 10% off both that day's ECB reference rate and the stablecoin's median price over the 7 days either side. Some stablecoins have a price today but no price history. Their chart uses each day's ECB reference rate for past points, and today's trading price for the latest point. A currency with no ECB rate (NGN) uses our own daily read of the stablecoin's deepest pool instead, from the first day the pool had a price; with neither it stays out of the USD charts.

No trading price. One rule everywhere: a stablecoin with no trading price is valued at today's reference FX rate (native supply ÷ units per dollar: the ECB reference rate, else the currency's central bank, and CLP and VND at an interim public aggregator), so the overview, rankings, currency, issuer and chain totals all count it and add up to the same figure. Wherever such a stablecoin is part of a figure it is marked FX rate. A note under a header total names the rate (for example "part at the ECB rate", "at the central bank rate" or "at the interim aggregator rate"). Its USD chart uses each day's FX rate. It still has no FX gap, since there is no price to compare. A currency with no reference rate gets no USD value this way.

Gap. A stablecoin's USD price × the market rate (units per USD) − 1, in basis points (100 bps = 1%). The price is the stablecoin price (its pool, else DefiLlama). + means the stablecoin costs more USD than the market rate, − that it costs less. One market rate per currency per refresh, so a stablecoin shows the same gap on every page. A gap of 5% or more is flagged "check price".

Market rate. For ARS, AUD, BRL, CAD, CHF, CLP, CNY, COP, EUR, GBP, HKD, IDR, JPY, KRW, MXN, MYR, NGN, NZD, PEN, PHP, SGD, TRY, VND and ZAR, the mid-market rate on Wise's public rate charts (sourced from Reuters/LSEG), within 60 minutes of the price read. Other currencies use the ECB reference rate (via Frankfurter), marked ECB. It is set once a day, so part of an ECB-based gap is market movement since then.

Dollar limits. These rates are not the gap. Transfer-activity dollar limits use a monthly average: the ECB reference rate where the ECB publishes one, and otherwise the currency's own central bank. CLP and VND stay on the interim line below until that feed is connected.ARS: Central Bank of Argentina wholesale reference rate (public API v4, variable 5), business days.COP: Banco de la República TRM (public SDMX daily series), business days.PEN: Central Reserve Bank of Peru 13:30 selling close (series PD04646PD), business days, Lima.NGN: Central Bank of Nigeria NFEM volume-weighted average (the bank's rates API), business days. Before December 2024, the bank's earlier US dollar central rate.CLP and VND: interim rate from a public aggregator until the central-bank feed is connected.Figures already saved still use the previous average until the monthly job rewrites them.

Cost to convert. Once a day we ask the stablecoin's deepest pool for a read-only quote at $1k, $10k and $50k each way. Cost = gap + pool fee + price impact, against the market rate; positive means you receive less than at the market rate. One pool, no routing, so an aggregator may do better. Gas and bank or ramp fees are not included. A size is "too thin" when the quote fails or moves the price more than 1% beyond the fee.

No pool quote. We read pools on Uniswap v3, Uniswap v4, Aerodrome Slipstream and Curve only, with at least $10,000 on each side. A stablecoin whose liquidity is elsewhere (another venue, or a chain we don't read) or whose pools are one-sided has no cost to convert, and its gap uses DefiLlama's price.

History. The same pool read at the ECB fixing time (14:10 Frankfurt time) on each working day of the last 12 months, against the market rate nearest that moment. Stablecoins without a pool use DefiLlama's daily price. Wise's hourly history is short, so older points mostly use the ECB reference rate; each stablecoin's chart says how many days use which. The /fx and stablecoin-page charts show the last 90 days by default (both can switch to 12 months), with a band for the 90-day average ± one standard deviation. Its target is our own yardstick: 5 bps for EUR, 10 bps for GBP, JPY, CHF, AUD, CAD, NZD, SGD and HKD, and 25 bps for every other currency.

No liquid market. These stablecoins have a market rate for their currency but no trading price, so there is no gap to show. They stay off the /fx table.

• CNH24 (CNY). No CNH24 price: no pool passed our depth rules at the last pool read (deepest smaller side $2.99).
• EUR24 (EUR). No EUR24 market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• EURR · StablR (EUR). No EURR market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• EURR · Bridge Building S.A. (EUR). No EURR market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• EURT (EUR). No EURT market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• REUR (EUR). No REUR market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• VEUR (EUR). No VEUR price: no pool passed our depth rules at the last pool read (deepest smaller side $70.98).
• GBPe (GBP). No GBPe market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• HKDAP (HKD). No HKDAP market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• IDRP (IDR). No IDRP market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• IDRT (IDR). No IDRT market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• XIDR (IDR). No XIDR market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• MYRT (MYR). No MYRT market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• NZDD (NZD). No NZDD price: no pool passed our depth rules at the last pool read (deepest smaller side $17.63).
• NZDS (NZD). No NZDS market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• PHPC (PHP). No PHPC market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.
• iTRY (TRY). No iTRY market meets our price rules: no pool against USDC or USDT has $10,000 on each side, and DefiLlama has no price.

Status. EVM, Stellar and Tron chains only. Shown for 22 currencies: ARS, AUD, BRL, CAD, CHF, CLP, CNY, COP, EUR, GBP, IDR, JPY, KRW, MXN, MYR, NGN, NZD, PEN, SGD, TRY, VND, ZAR. We spot-checked them by recounting stablecoins straight from the blockchain (transfers, raw volume and active addresses, for a month and a week in each year from 2022, the busiest stablecoin of each large currency plus Base and EURC), compared with rwa.xyz where it lists the stablecoin. Not shown yet (they say "Coming soon"): HKD (not counted yet). Figures are full calendar months and full weeks: July 2022 – September 2026 for EUR, CNY; July 2022 – September 2026 for EUR, JPY, CHF, GBP, BRL, AUD, SGD, ARS, TRY; July 2022 – September 2026 for CAD, MXN, KRW, COP, CLP, PEN, NGN, ZAR, IDR, VND, MYR, NZD; July 2022 – September 2026 for AUD, CHF, CLP, EUR, JPY, NGN. Each currency starts at its first month with transfers (EURC, the first, in July 2022). Transfer figures go back no further than July 2022, so transfers before then aren't counted.Months to September 2026 use the stablecoin list of 11 Oct 2026 (stablecoins and contracts added later that day count from October 2026). Each new month is added on the 2nd of the next month, with that day's stablecoin list. Running the same query again gives the same result: the pass-through test uses an exact middle value and ties are always broken the same way.

We checked 25 stablecoins against the e-money token file of the ESMA interim MiCA register. ESMA last updated it on 7 Oct 2026; we checked it on 10 Oct 2026. Authorised: the stablecoin's issuer is listed for it. Not authorised: it is not listed. Other stablecoins show no MiCA line.

File: ESMA register CSV ↗ (SHA-256 5d63159cf4a5f11ffff065d0a48cc84384c7e7bd4a5c4d1e4896ddf3f2c198c3) · ESMA MiCA page ↗ · ESMA opinion on services related to non-MiCA-compliant stablecoins (ESMA75-113276571-1742) ↗

Not legal advice.

A "Confirmed" badge on an issuer's page and its stablecoin pages means FXscan checked the issuer. We check three things: it is the legal entity behind the stablecoin, its reserve, attestation or licence links on its own site work and were recorded, and the contract addresses it publishes match ours (where it publishes them). We only add a badge after that check.

The badge shows for 100 days from the day of the check, then it hides. Issuers can ask for a check from the "Verify and integrate" box on their issuer or stablecoin page.

It is not a guarantee of reserves, solvency or regulatory status.

A USD chart needs a price history for each stablecoin: DefiLlama's daily prices, or the reference rate for a stablecoin with a price today but no price history. A stablecoin with no trading price uses each day's reference rate. Stablecoins with no USD value at all, and histories that stopped updating, are left out of the chart. They still count in totals and tables. The chart's "?" names them ("Chart covers $X of $Y. Not in the chart: …"), and so does the issuer's FAQ.

A chart is drawn whenever it covers any of today's supply. A view with nothing to plot says its history isn't complete yet. A history more than 14 days behind is marked stale, and its changes are left blank. One-day spikes over 20% are dropped. A gap inside a history carries the last reading for up to 7 days.

Currency pages show supply in US dollars first: each stablecoin at today's trading price, or at today's reference rate when it has none (marked). Every point of that chart uses today's value, so the line shows supply changes, not exchange-rate moves. The same chart in the currency's own units ("Supply, EUR") counts every stablecoin pegged to it, priced or not. A native chart below 5% of the page total is replaced by a note.

Transfer volume and active addresses are shown only for the currencies that passed our check (see Transfer volume and active addresses); they cover EVM, Stellar and Tron chains only. Issuers we can't confirm stay Unattributed; mint and redeem details we can't confirm are left blank.