Explore detailed information about all 18 stablecoins supported by our platform, including their issuers, launch dates, background, and primary use cases.
Issuer: Tether Limited
Launch Date: July 2014
Background: First major stablecoin, launched to provide stability in volatile crypto markets and facilitate trading between exchanges.
Primary Use: Trading pairs, cross-exchange transfers, store of value during market volatility. Dominates with 65% market share.
Backing: Claims 1:1 USD reserves, though composition includes cash equivalents and commercial paper.
Issuer: Centre Consortium (Circle & Coinbase)
Launch Date: September 2018
Background: Created as a regulated, transparent alternative to USDT with full regulatory compliance and regular audits.
Primary Use: DeFi protocols, institutional payments, regulated trading. Second-largest stablecoin by market cap.
Backing: Fully backed by cash and short-term US Treasury bonds, with monthly attestations.
Issuer: Paxos Trust Company (for Binance)
Launch Date: September 2019
Background: Launched to provide Binance ecosystem with a regulated stablecoin, approved by New York State Department of Financial Services.
Primary Use: Binance trading, yield farming, cross-chain DeFi applications.
Backing: 1:1 USD reserves held by Paxos, with monthly audits and regulatory oversight.
Issuer: TrustToken (now Archblock)
Launch Date: March 2018
Background: One of the first fully-collateralized, legally-protected stablecoins with real-time attestations.
Primary Use: Institutional trading, cross-border payments, DeFi lending protocols.
Backing: USD held in escrow accounts by third-party trust companies, with real-time proof of reserves.
Issuer: Paxos Trust Company
Launch Date: September 2018 (as PAX, rebranded 2021)
Background: First regulated stablecoin approved by New York State, emphasizing compliance and transparency.
Primary Use: Institutional payments, regulatory-compliant trading, enterprise blockchain applications.
Backing: 100% cash reserves held in FDIC-insured US banks, with monthly attestations.
Issuer: Gemini Trust Company
Launch Date: September 2018
Background: Created by Winklevoss twins' Gemini exchange as a regulated, New York-approved stablecoin.
Primary Use: Gemini exchange trading, institutional custody, regulated DeFi applications.
Backing: USD deposits held at State Street Bank, with monthly examinations by BPM LLP.
Issuer: FD121 Limited
Launch Date: June 2023
Background: Launched as a Hong Kong-regulated stablecoin to serve Asian markets with regulatory compliance.
Primary Use: Asian crypto trading, cross-border payments in Asia-Pacific region.
Backing: Cash and cash equivalents, regulated under Hong Kong's virtual asset framework.
Issuer: Paxos Trust Company (for PayPal)
Launch Date: August 2023
Background: PayPal's entry into stablecoins, bringing crypto to 400+ million PayPal users worldwide.
Primary Use: PayPal payments, e-commerce, mainstream adoption of digital payments.
Backing: USD deposits and US Treasury bills, with Paxos as the regulated issuer.
Issuer: Mountain Protocol
Launch Date: September 2023
Background: Yield-bearing stablecoin backed by US Treasury bills, offering native yield to holders.
Primary Use: Yield generation, institutional treasury management, DeFi yield strategies.
Backing: US Treasury bills and reverse repurchase agreements, providing yield to token holders.
Issuer: Ondo Finance
Launch Date: January 2024
Background: Tokenized yield-bearing instrument backed by US Treasury securities, bridging TradFi and DeFi.
Primary Use: Institutional yield farming, treasury management, yield-bearing collateral in DeFi.
Backing: US Treasury securities and bank deposits, with yield distributed to token holders.
Issuer: MakerDAO
Launch Date: December 2017
Background: First major decentralized stablecoin, created to provide stability without centralized control through over-collateralization.
Primary Use: DeFi protocols, decentralized lending, governance token staking, censorship-resistant payments.
Backing: Over-collateralized by crypto assets (ETH, WBTC, etc.) locked in smart contracts, governed by MKR holders.
Issuer: Liquity Protocol
Launch Date: April 2021
Background: Immutable, governance-free stablecoin protocol designed to be more decentralized than DAI.
Primary Use: Decentralized borrowing, ETH leverage, governance-free DeFi applications.
Backing: Over-collateralized by ETH only, with algorithmic liquidation mechanisms and no governance.
Issuer: Synthetix Protocol
Launch Date: March 2019
Background: Part of Synthetix ecosystem for synthetic assets, backed by SNX token collateral.
Primary Use: Synthetic asset trading, derivatives, decentralized perpetual futures.
Backing: Over-collateralized by SNX tokens, with debt pool mechanism and staking rewards.
Issuer: Frax Protocol
Launch Date: December 2020
Background: First fractional-algorithmic stablecoin, combining collateral backing with algorithmic mechanisms.
Primary Use: DeFi yield farming, algorithmic monetary policy experimentation, cross-chain applications.
Backing: Partially collateralized (USDC) and partially algorithmic (FXS token), with dynamic collateral ratio.
Issuer: TRON DAO Reserve
Launch Date: May 2022
Background: TRON ecosystem's algorithmic stablecoin, backed by multiple cryptocurrencies including TRX, BTC, and USDT.
Primary Use: TRON DeFi applications, cross-chain bridging, yield generation on TRON network.
Backing: Over-collateralized by crypto assets managed by TRON DAO Reserve, with algorithmic stability mechanisms.
Issuer: Curve Finance
Launch Date: May 2023
Background: Curve's native stablecoin using innovative LLAMMA (Lending-Liquidating AMM Algorithm) for soft liquidations.
Primary Use: Curve ecosystem, efficient liquidations, yield farming with reduced liquidation risk.
Backing: Over-collateralized by various crypto assets with soft liquidation mechanism to reduce liquidation losses.
Issuer: Aave Protocol
Launch Date: July 2023
Background: Aave's native decentralized stablecoin, allowing users to mint GHO against their collateral on Aave.
Primary Use: Aave lending/borrowing, yield strategies, governance participation through stkAAVE discounts.
Backing: Over-collateralized by assets deposited in Aave protocol, with interest rates set by Aave governance.
Issuer: Ethena Labs
Launch Date: February 2024
Background: Synthetic dollar protocol using delta-hedging strategies with ETH and ETH derivatives to maintain stability.
Primary Use: Yield generation, delta-neutral strategies, synthetic asset exposure without traditional collateral.
Backing: ETH collateral with short ETH perpetual positions to create delta-neutral exposure, generating yield through funding rates.
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