Stablecoin Protocols & Pegged Assets

Bitso offers stablecoin savings and yield products delivering approximately 4 percent APY on USDC and USDT, with weekly payouts and no lock-up period. The products are designed for Latin American users seeking dollar-denominated savings outside a banking system that has historically offered limited yield alternatives. According to Bitso's own 2025 Crypto Landscape report, stablecoins represent 40 percent of all crypto purchases in Latin America, surpassing Bitcoin at 18 percent, reflecting deep regional demand for stable, dollar-linked instruments. Cross-border payments on the platform also route through stablecoin rails, making stablecoins the functional backbone of Bitso's entire financial services stack.

In 2025, Maxbit became the first Thai exchange to list Tether Gold (XAUt), a stablecoin-adjacent digital asset where each token represents one troy ounce of physical gold held in Swiss vaults. This listing followed Thailand's March 2025 regulatory approval of dollar-backed stablecoins on licensed platforms, at which point Maxbit also added Tether's USDt to its supported asset list. These additions position Maxbit as an early mover on regulated stable and gold-backed assets within Thailand's licensed crypto ecosystem. By listing both USDt and XAUt in step with Thailand's evolving stablecoin policy, Maxbit offers investors a compliant, SEC-overseen route to stablecoin and gold-denominated digital exposure without relying on unlicensed offshore platforms — making it a notable participant in the regional development of regulated stablecoin access.

Ripio issues three local-currency stablecoins — wARS (Argentine peso), wBRL (Brazilian real), and wMXN (Mexican peso) — each pegged one-to-one to their respective fiat currencies. These assets are deployed across Ethereum mainnet, Base, and World Chain, making them accessible within established multi-chain DeFi ecosystems. CEO Sebastian Serrano has described the local stablecoin strategy as critical infrastructure for enabling DeFi lending across Latin America. Unlike dollar-pegged stablecoins, Ripio's regional stablecoins target the specific currency challenges faced by users holding Argentine, Brazilian, and Mexican peso balances. The tokens provide a bridge between local financial systems and global DeFi protocols, supporting use cases from lending to cross-border transfers. As an issuer operating across eight regulated markets, Ripio combines stablecoin infrastructure with the compliance credentials that retail and institutional DeFi users in Latin America require.

CFX Labs issues MoveUSD, a 1:1 USD-backed stablecoin that launched on Solana and has since expanded to Ethereum and Base via Wormhole's Native Token Transfer protocol. MoveUSD is fully collateralized by U.S. dollars and designed as a practical dollar substitute for businesses operating in high-volatility currency environments or requiring programmable payment infrastructure. The burn-and-mint cross-chain architecture preserves a unified token supply with Solana as the origin chain, preventing fragmentation as liquidity flows across networks. CFX Labs holds U.S. Money Services Business registration and NMLS credentials, and MoveUSD has been structured in alignment with the GENIUS Act framework governing regulated stablecoin issuance. This compliance posture makes MoveUSD a stablecoin built for enterprise and institutional users who require their dollar instruments to operate within the U.S. regulatory perimeter.

Infini is a financial operating system built around USDC and USDT, treating stablecoins as both the medium of exchange and the yield-bearing reserve asset for global business operations. The platform's core premise is that businesses holding stablecoins should earn yield on those balances up to the moment of spending, implemented through yield-generating strategies offering approximately 8% APY with T+0 redemption. In August 2026, the platform extended this model with a BTC yield product at approximately 4% APY using a market-neutral strategy, with rewards calculated daily and immediate redemption supported. Stablecoins run on multiple blockchain networks, and Infini abstracts the underlying chain from end users. Asset custody is managed through Cobo, a multi-party computation wallet provider with ISO 27001 certification. The platform accepts incoming payments in USDC and USDT at a 0.3% settlement fee, and virtual corporate cards can settle in stablecoins as well as USD and EUR. Infini holds SOC 2 Type II and PCI-DSS Level 1 certifications.

Nubank has made USDC a centerpiece of its crypto strategy for Latin American retail users, offering a 4 percent annual rewards program on USDC holdings to all NuCripto customers since January 2025. The stablecoin grew tenfold on the platform during 2024, and more than 50 percent of new NuCripto users now select USDC as their first digital asset — a remarkable adoption signal in a region where dollar-denominated savings carry particular weight. With 30 percent of active NuCripto users holding USDC and a total crypto user base exceeding seven million by early 2026, Nubank's stablecoin footprint rivals most purpose-built crypto applications. An in-app swap tool lets customers convert Bitcoin, Ethereum, and Solana directly into USDC, eliminating fiat conversion fees for tens of millions of mobile-first banking customers.

Blockroll integrates USDC and USDT as core stablecoin infrastructure, enabling users in Nigeria and Sub-Saharan Africa to hold earnings in dollar-pegged assets and avoid losses from local currency devaluation. Selected into Circle's USDC Grant Program in July 2024 and listed in the Circle Alliance Directory, the platform aligns with USDC as its primary stablecoin standard. In April 2025, Blockroll completed a full on/off-ramp cycle converting Nigerian Naira to USDC on Solana and back, validating its stablecoin rails for African markets. The platform abstracts stablecoin mechanics from end users by covering gas fees and managing wallet infrastructure, allowing freelancers and remote workers to receive USDC payments without managing a non-custodial wallet. Multi-chain routing across Solana, Polygon, Base, and Aptos provides flexibility and cost efficiency, with Solana selected for its sub-cent transaction costs and near-instant finality. Users switch between NGN, USD, EUR, USDC, and USDT from a single dashboard with real-time spending analytics.

AgenteBTCs December 2024 seed investment from Tether Investments positions it as a key USDT distribution channel in Latin America. USDT is among the supported assets on the AgenteBTC wallet, letting unbanked users hold and transact in a dollar-pegged asset. The KasNet network of approximately 13,000 physical retail locations provides the cash-to-stablecoin on-ramp infrastructure to embed USDT into everyday commerce. This makes AgenteBTC one of the most accessible stablecoin entry points for unbanked users in Peru. Tether has publicly prioritized Latin America for stablecoin adoption, and AgenteBTCs agent network accelerates USDT distribution through an existing retail channel. Users convert physical soles into USDT at neighborhood retail agents, bypassing the bank account requirement that blocks most stablecoin services from reaching underbanked populations. The platform reported approximately $700,000 in annual recurring revenue for 2024. As the company expands into Central America and Mexico, its stablecoin distribution footprint grows correspondingly.

Rail uses stablecoins as the core settlement layer for cross-border B2B payments, routing transactions through USDC and USDT on Solana, Ethereum, XRP Ledger, Polygon, Tron, Near, and Binance Smart Chain without requiring end users to manage blockchain wallets. Following Ripple's $200 million acquisition of Rail in August 2025, RLUSD and XRP were announced for additional integration into the platform's stablecoin settlement stack. Virtual accounts provisioned through the Rail API allow businesses to hold and transact in digital assets without opening dedicated exchange accounts, lowering the barrier for enterprises new to stablecoin settlement. AML monitoring and counterparty screening are embedded in the API. By mid-2025, Rail reported approximately $3.6 billion in annual stablecoin payment volume, representing roughly 10 percent of the global B2B stablecoin market.

BiLira issues TRYB, a fully fiat-backed stablecoin pegged 1:1 to the Turkish Lira, with each token backed by one Turkish Lira held in affiliated bank accounts in Turkey. Reserves are independently audited by Corpus Denetim since April 2020, with each report confirming that reserve balances exceed circulating supply, and a public Dune Analytics dashboard provides real-time on-chain transparency across all supported networks. There are no algorithmic or crypto-collateralized mechanisms — TRYB is structurally similar in design to USDC or USDT but denominated in Turkish Lira. Users mint TRYB by depositing Turkish Lira and redeem by burning TRYB for fiat at a 1:1 ratio. TRYB is deployed across nine blockchains including Ethereum and Solana, where it uses the SPL token standard and is accessible to any wallet or DeFi protocol on the network. On Ethereum, TRYB integrates with Curve Finance's 3CRV pool, DFX Finance liquidity positions on Polygon and Ethereum, and Hashflow for cross-chain swaps with USDC. The Ethereum contract includes upgradeable proxy architecture, pause functionality, blacklisting for regulatory compliance, and multisignature controls — standard for regulated fiat-backed stablecoins. BiLira describes TRYB as the most widely adopted Turkish Lira-backed stablecoin in circulation.

BitPay has built dedicated stablecoin infrastructure for both merchants and consumers, with USDC and USDT accepted across multiple blockchain networks including Solana, Ethereum, Arbitrum, Optimism, and Base. By 2025, stablecoins represented nearly 40 percent of BitPay's total payment volume, reflecting a growing merchant preference for price-stable settlement over volatile cryptocurrency. BitPay offers dedicated stablecoin settlement workflows allowing merchants to receive payments in USDC or USDT, providing predictable value without immediate conversion to fiat. This stablecoin focus extends to Solana, where native USDC and USDT are positioned as viable settlement currencies for everyday commercial transactions. The consumer BitPay wallet supports holding and transacting stablecoins alongside other assets, with real-time rate comparisons across on-ramp and off-ramp providers surfacing the best available option for each transaction. BitPay CMO Bill Zielke cited Solana's emergence as a major stablecoin network as a key driver of the August 2025 Solana integration. As stablecoin adoption grows in retail payment contexts, BitPay's established merchant network provides one of the largest real-world pathways for stablecoin spending. The combination of self-custody wallet support and regulated merchant settlement infrastructure positions BitPay as a significant distribution channel for practical stablecoin utility.

Asterium issues HUMO, Uzbekistan's first sovereign-backed digital stablecoin, pegged at 1 HUMO = 1,000 Uzbek sum and backed by reserves that include government bonds of the Republic of Uzbekistan. Registered in Uzbekistan's official crypto-asset register under NAPP licensing, HUMO combines fiat-pegged stability with on-chain programmability as a regulated regional settlement instrument. In April 2026, HUMO became the first Uzbek sovereign-backed token listed on an international centralized exchange (Coinstore). The platform also offers AUZ, a commodity-backed stable-value instrument where each token represents one gram of physical gold acquired at Central Bank of Uzbekistan prices and held in regulated custody. Both instruments maintain verifiable reserve backing — government debt for HUMO and physical gold for AUZ — in contrast to algorithmic designs. Asterium's licensed depository provides the custody layer for both assets, and Uzbekistan's zero-tax policy through 2029 provides a favorable jurisdictional framework for regulated stable-value instruments.

Trace Finance builds regulated stablecoin infrastructure connecting USDC to Brazilian real and other Latin American currencies through a quote-and-lock on/off-ramp mechanism. Clients request a rate, Trace locks it, and the swap executes at that fixed price rather than a floating mid-market rate. Liquidity is sourced through Brazil's Pix instant-payment network, keeping the ramp active around the clock including weekends and holidays — a meaningful operational difference from traditional FX desks that close on those days. Solana ecosystem alignment is explicit in Trace's investor base: Circle, which issues USDC natively on Solana, participated from the seed round, and Anatoly Yakovenko of Solana Labs joined the $32 million Series A alongside Coinbase Ventures and Paxos. The platform's USDC settlement pathway sits at the intersection of Solana's position as a leading chain for native USDC supply and the Latin American financial system, making Trace a key bridge for stablecoin liquidity entering and exiting the region.

RebelFi provides programmable stablecoin infrastructure for the B2B payments layer, targeting payment companies, neobanks, payroll platforms, and enterprises. The platform enables these operators to deploy idle USDC and USDT balances into yield-bearing DeFi positions without surrendering custody, operating across Solana, Ethereum, Polygon, and Base. Its non-custodial API constructs unsigned transactions that clients sign with their own key management, keeping private keys entirely under operator control. The core proposition is converting settlement float — stablecoins sitting idle between payment initiation and final settlement — into a productive asset. Withdrawals are available on demand with no enforced lock-up periods, preserving the liquidity required for ongoing settlement obligations. Cross-chain capital routing is handled internally, and the platform explicitly favors Solana for its sub-second confirmations and sub-cent transaction costs when routing USDC and USDT to yield venues.

Toku's payroll infrastructure is built around stablecoin disbursement as a first-class payment mechanism, supporting USDC, USDT, USDG, and RLUSD as primary payment assets across multiple blockchain networks. The platform processes over 1 billion USD in annual stablecoin payroll volume on Polygon through a partnership with Polygon Labs and Paxos, and also supports USDC payroll on Solana and Sei-native stablecoin payroll added in February 2026. Stablecoin balances held on the platform earn yield before disbursement, giving organizations a financial return on payroll float. In January 2026, Toku expanded its stablecoin support to include USAD, a privacy-preserving stablecoin developed in collaboration with Aleo and Paxos Labs that shields individual salary amounts from public on-chain visibility. Recipients who receive stablecoins can link a Visa card to their wallet and spend at 150 million merchants globally on settlement day, bridging on-chain payroll to everyday spending without requiring a separate off-ramp step. This multi-asset, multi-chain stablecoin approach positions Toku as a practical payroll gateway for protocols, foundations, and DAOs that hold treasury assets in stablecoin form.

Stablepay is a payments network built around USDC as its core settlement asset, enabling users across five African markets to spend dollar-denominated stablecoins while merchants receive local currency through mobile money. The platform is a Circle Alliance partner using both USDC and Circle's Cross-Chain Transfer Protocol, making it interoperable with any wallet or exchange supporting Solana-based USDC transfers. This positions Stablepay within the infrastructure layer converting stablecoin liquidity into locally spendable value. The Payment API exposes live FX rates and stablecoin conversion as a developer primitive, letting fintechs build products that accept USDC while presenting local currency interfaces to end users. The Stablepay Credential links human-readable identifiers to on-chain wallet addresses, making stablecoin transfers resemble familiar remittance apps rather than raw crypto transactions. The platform runs on Solana and Base, chosen for the low fees required at consumer-scale stablecoin transaction values.

SFx Money is built around USDC as its primary settlement and value-storage asset, with USDT also supported for on-chain deposits and withdrawals. The app represents a consumer-facing implementation of stablecoin infrastructure for populations motivated by practical dollar access rather than crypto speculation — specifically African diaspora communities using dollar-pegged assets to avoid local currency volatility and high remittance fees. Circle, the issuer of USDC, is a key infrastructure partner underpinning the settlement layer. By abstracting away blockchain mechanics through a username-based transfer interface and virtual card, SFx brings stablecoin utility to users who may not identify as crypto users. Between March 2025 and June 2026, USDC alone facilitated approximately $4.78 million in transaction volume across more than 59,000 transactions on the platform — demonstrating real-world demand for stablecoins in high-frequency, small-value cross-border transfers. The expansion to Solana in February 2026 strengthened the stablecoin infrastructure by adding a near-instant, sub-cent settlement layer particularly suited to these use cases.

Rizon uses USDC and USDT as its native unit of account across all platform features, including spending, sending, saving, and investing. Stablecoin deposits are accepted from more than ten blockchain networks — including Solana, Ethereum, Polygon, Arbitrum, Avalanche, BNB Smart Chain, and Base — allowing users to fund from wherever they hold assets. On-chain withdrawals to external addresses cost the underlying network fee plus a 0.1% platform fee. Rizon is a member of the Circle Alliance Partner network, reflecting its tight USDC integration and co-marketing relationship with Circle. The multi-currency account layer supports USD and EUR balances accessible via ACH and SEPA. Rizon does not pay yield on idle stablecoin balances; the accounts serve as a custody and payments vehicle rather than an interest-bearing savings product.

Mileston is built around automatic USDC and EURC settlement, using stablecoins as the fundamental unit of value in every merchant transaction. When a customer pays with any supported cryptocurrency, Mileston converts and settles in USDC or EURC immediately upon transaction confirmation, removing the merchant's exposure to crypto price volatility. The platform is a Circle Alliance partner, reflecting deep integration with Circle's stablecoin infrastructure across Arbitrum, Avalanche, Base, Ethereum, and the Noble Cosmos chain purpose-built for native USDC issuance. This settlement model enables businesses to adopt crypto payments without treasury risk or complex hedging arrangements. The use of USDC and EURC as settlement rails positions Mileston within Circle's broader ecosystem of stablecoin-native payment services, giving merchants a clearer path to on/off-ramp services and compliance tooling as their payment volumes grow. Stablecoin settlement also makes cross-border payouts more practical: freelancers and marketplaces can receive USDC globally without the multi-day windows of traditional wire transfers or the volatility of unpegged crypto assets. Mileston's multi-network support — spanning Ethereum-native chains and the Cosmos-native Noble chain — reflects the multi-chain reality of USDC liquidity today. For developers building stablecoin-denominated products, Mileston provides a ready-made settlement layer without requiring direct Circle API access.

HighWayPay centers its payment infrastructure on USDC and USDT, the two largest stablecoins by market cap, positioning stablecoin payments as a practical alternative to traditional card rails for merchants across industries. Customers pay in either asset at checkout — online or at a physical point-of-sale terminal — and merchants receive the stablecoin directly, maintaining full custody without the platform intermediating settlement. Near-instant finality and the absence of chargeback risk distinguish stablecoin payments from card-based alternatives for merchants. Solana is one of four supported chains, chosen for its sub-second block times and sub-cent transaction fees that make even small-ticket stablecoin purchases economically viable. Merchants can hold received stablecoins, convert them to fiat, or route them onward to suppliers or employees from within the platform. The non-custodial architecture ensures merchants are never exposed to counterparty risk from the gateway itself. HighWayPay's FinCEN MSB registration and KYC/AML checks bring regulatory clarity to stablecoin acceptance, a differentiator for business customers in regulated industries.

Stablecoins sit at the center of Accrue's product architecture. Cashramp, the platform's core payment rail, uses stablecoins as the settlement layer on one side of every transaction, with local agents accepting stablecoins and disbursing local currency. USDC deposits are supported across multiple blockchain networks, crediting user wallets in real time once a transaction confirms on-chain, and the platform originally launched as a crypto investment app before pivoting to stablecoin-powered cross-border finance during the 2022 downturn. Accrue Business, launched in July 2026, is explicitly a stablecoin-powered banking platform, allowing African businesses to hold, send, and receive USDC and USDT across major blockchain networks, run stablecoin-based payroll, and manage vendor payments globally. Lattice Fund, the lead investor in Accrue's January 2025 seed round, is a crypto-focused firm with a Solana ecosystem emphasis, underscoring the project's alignment with on-chain stablecoin infrastructure and the broader movement to bring dollar-denominated settlement rails to underserved African markets.

Fiserv launched FIUSD as a bank-grade, fully reserved USD-backed stablecoin built for its network of approximately 10,000 financial institution clients — banks and credit unions. FIUSD is always redeemable one-for-one with the U.S. dollar and operates 24 hours a day, seven days a week, year-round. Reserve and issuance infrastructure is provided by Circle and Paxos, two established regulated stablecoin operators, allowing Fiserv to plug proven reserve management rails into its own banking platform layer. Unlike retail-oriented stablecoins, FIUSD is distributed through a software development kit that integrates directly with Fiserv's existing banking and payment platforms. Financial institutions can offer it under Fiserv's brand or white-label it under their own — the first live example is Roughrider Coin, a partnership with the Bank of North Dakota. Fiserv also announced interoperability between FIUSD and PayPal's PYUSD stablecoin on Solana, connecting two major institutional stablecoin networks on the same chain.

CopperX is built entirely around stablecoins as its primary financial instrument, using USDC and USDT as settlement currencies across all of its products. The platform's non-custodial architecture ensures that stablecoin balances remain in merchant-controlled wallet addresses rather than held by CopperX as a custodian, reducing counterparty risk for web3-native businesses. Financial accounts are denominated in USD, EUR, and AED, with balances backed by on-chain stablecoin positions rather than funds held on CopperX's balance sheet. Corporate Visa cards are funded directly from the business's stablecoin balance, eliminating conversion steps through traditional exchanges. The Kosh neobank, launched at Solana Breakpoint in December 2025, extends CopperX's stablecoin infrastructure to individual freelancers, with SOL usable as collateral for flexible repayment arrangements. Global payouts move USDC or fiat to recipients in more than 90 countries, with stablecoin transfers settling on-chain within minutes. CopperX's stablecoin-native model differentiates it from fintech platforms that hold customer funds on their own balance sheets, making it a meaningful option for businesses with significant stablecoin reserves that want to retain on-chain custody.

Bison Digital Assets provides regulated institutional access to EURC — Circle's euro-denominated stablecoin — and USDC across both Solana and Ethereum, making it a bank-grade on-ramp for European institutional capital into stablecoin activity on the Solana network. As a listed partner in Circle's global directory, BDA offers its high net worth and institutional client base settled stablecoin positions within a fully regulated custody framework, eliminating counterparty risk that has historically complicated institutional stablecoin exposure. The dual-chain availability reflects a deliberate infrastructure choice to support both dominant smart contract networks from within a licensed banking structure. Stablecoin settlement flows through Fireblocks' MPC-based infrastructure, providing wallet security without single points of key exposure across the Solana network. For a regulated Portuguese bank to route euro stablecoin transactions through Solana represents a concrete signal of institutional confidence in the network's settlement capability. EUB and USB e-money tokens — proprietary euro and dollar instruments launched by Bison Bank under its MiCA CASP status — further extend the stablecoin product surface available to institutional clients operating under European regulatory frameworks.

Wyoming's Frontier Stable Token (FRNT) is the first stablecoin issued by a U.S. state government, pegged one-for-one to the U.S. dollar and backed by fully reserved, overcollateralized holdings of cash equivalents and short-term U.S. Treasury instruments. Franklin Templeton manages the reserves under contract, with Fiduciary Trust Company International serving as custodian — an institutional custody stack that went live ahead of the January 2026 public launch. Three independent security audits were completed before FRNT became publicly available. Unlike private stablecoin issuers, the Wyoming Stable Token Commission has no profit motive on reserve interest: yield earned on FRNT's backing assets flows quarterly to the Wyoming School Foundation Fund rather than to shareholders or token holders. Compliance controls are built into the token at the contract level, including deny-listing of flagged addresses, permissioned minting and burning, freeze capability for regulatory requirements, and an upgradeable contract architecture. FRNT launched natively on Solana and has since expanded to eight blockchains.

World Liberty Financial flagship on-chain product is USD1, a fully-reserved US dollar stablecoin launched in March 2025 and managed by BitGo Trust Company in South Dakota. Reserves are held in short-term US Treasuries, bank deposits, and cash equivalents, with monthly attestation reports published under AICPA standards. Minting and redemption are available to verified institutional counterparties at zero fee, and USD1 operates across Ethereum, BNB Chain, Solana, Tron, and other networks using Chainlink CCIP as its official cross-chain transport layer. USD1 has become one of the fastest-growing fiat-backed stablecoins in crypto history. By Q1 2026, its circulating supply reached approximately 4.6 billion dollars, roughly 50 percent quarter-over-quarter growth, placing it inside the top five dollar-backed tokens by market capitalization. Its most prominent transaction was Abu Dhabi investment firm MGX 2 billion dollar investment into Binance, settled entirely in USD1 and widely described as the largest stablecoin-settled transaction in crypto history at the time.

DCS Card Centre's DeCard platform is built around USDC and USDT, allowing stablecoin holders to spend their on-chain dollar balances at any Visa-accepting merchant without manually converting to fiat first. Users deposit stablecoins into a D-Vault account, with real-time conversion to local currency occurring at the point of transaction. Separately, DCS Card Centre has issued DCS Tokens (DUSD), a dollar-backed payment token pegged 1:1 to USD and deployed on EVM-compatible chains, marketed as the first such token issued by a financial institution in Singapore. Unlike retail stablecoins, DUSD is issued exclusively to merchants to bridge Web2 payment flows with on-chain settlement. For Solana users, the connection runs directly through USDC: Solana holds roughly $7 billion in circulating USDC as of early 2026, making it the second-largest USDC chain by supply. DeFi participants, traders, and yield farmers who accumulate stablecoin positions often lack low-friction pathways to real-world spending without routing through centralised exchanges. DeCard offers over 50% in foreign-exchange savings compared to conventional Singapore credit card rates and carries no annual fee on the standard tier. Visa, the global network underlying DeCard, has also piloted USDC settlement on Solana for US bank partners, reinforcing the alignment between Solana's stablecoin infrastructure and the payment rails DeCard relies on.

E Money Network provides compliant stablecoin infrastructure for Solana developers and institutions. The platform embeds KYC and AML compliance at the protocol level, enabling stablecoin issuers to satisfy MiCA and other regulatory requirements without building bespoke compliance systems. The E Money Wallet supports fiat on/off-ramp functionality through IBAN integration, giving stablecoin holders a direct path to convert between on-chain assets and traditional bank accounts. E Money Networks longer-term roadmap includes country-native stablecoin issuance, digital currencies pegged to local fiat that meet jurisdiction-specific regulatory frameworks, positioning the project as foundational infrastructure for regulated stablecoin products on Solana. The E Money Card also enables stablecoin holders to spend digital assets at point of sale globally, while the EMYC token can function as collateral for loans within the ecosystem.

Eco is a cross-chain stablecoin infrastructure platform that treats stablecoins as programmable instruments rather than static balances. Its intent-based routing network, called Routes, supports USDC and USDT flows across 16+ chains and more than 240 directional trading pairs, handling settlement in 20 to 40 seconds without requiring users to interact with bridge interfaces. The platform introduces Programmable Addresses — deterministic deposit addresses that silently forward any incoming stablecoin to a pre-specified destination chain — and Programmable Transactions, which embed multi-step logic directly in calldata for atomic operations like bridge-then-swap-then-deposit. A forthcoming Crowd Liquidity feature will allow stablecoin holders to contribute to the solver network and earn yield, extending Eco's coverage across chains and DeFi protocols.

UnblockPay positions USDC and USDT as the primary settlement layer for cross-border business payments across Latin America and beyond. The platform supports stablecoin operations on Solana, Ethereum, Base, and Polygon PoS, with Solana serving as a first-class network for native USDC transfers, automated payouts, and treasury rebalancing. Businesses can provision stablecoin wallets for each supported chain and configure fiat deposits to auto-convert to stablecoins on receipt, enabling ongoing treasury management in digital-dollar form. UnblockPay holds Circle Alliance membership, reflecting its deep USDC integration across all supported chains. The on/off-ramp layer converts between local fiat currencies — Brazilian Real, Mexican Peso, US Dollar, and Euro — and USDC or USDT across Argentina, Brazil, Chile, Colombia, and Mexico. For businesses that need dollar-denominated stablecoin settlement without building blockchain infrastructure or compliance plumbing themselves, UnblockPay provides a single API integration point. All stablecoin-to-stablecoin transfers remain within the same network, keeping each transaction path simple and auditable. In its first year of operation, the platform processed over R$300 million in transaction volume, demonstrating real demand for compliant stablecoin rails in Latin American markets.

Singapore Gulf Bank is a regulated digital bank that has built a stablecoin mint and redeem service as a core product, running on Solana. Clients can execute one-to-one USD-to-USDC conversions with 24/7 settlement, with gas fees and bank fees waived during an introductory promotional period. The service launched publicly in April 2026 with a minimum transaction floor of one hundred thousand dollars reflecting the bank's institutional client base, and USDC was the first live instrument. Additional stablecoins including USDT, USDe from Ethena, and USDG are queued for integration, while SGB Net also supports settlement over Ethereum and Arbitrum alongside Solana. What distinguishes SGB's stablecoin offering from DeFi protocols is the regulatory wrapper. The bank holds a Conventional Wholesale Banking licence from the Central Bank of Bahrain, allowing it to hold client funds in regulated deposit accounts and maintain genuine correspondent banking relationships with J.P. Morgan, Standard Chartered, and BNY. That combination of on-chain stablecoin infrastructure and regulated fiat backing gives corporate treasury desks access to 24/7 settlement without sacrificing compliance standing. By launch, SGB had processed more than seven billion dollars in cumulative transactions across its fiat and digital rails.

Onta Network builds payment infrastructure centered on USDC as the primary transaction medium, enabling stablecoin spending at physical retail merchants without requiring users to first convert digital assets to fiat. The OntaPay application allows users to spend USDC at merchant locations using QR codes or NFC tap-to-pay, with the crypto-to-fiat conversion handled at the acquirer layer rather than at the point of sale. Merchants receive local currency settlement on a T+1 basis and remain entirely insulated from crypto price volatility, which the company identifies as a key condition for merchant adoption. ZeroPulse, Onta's dedicated settlement layer, is purpose-built for stablecoin payment flows, processing transactions in milliseconds and eliminating gas fees for end users. USDC reserves held on Solana serve as the liquidity base for the system. Onta's architecture is designed to make stablecoin payments functionally equivalent to traditional card payments from the merchant perspective, targeting markets where the infrastructure gap between crypto adoption and everyday commerce is most acute. The Sentinel compliance module applies KYC and AML requirements at the protocol level to keep stablecoin flows within regulatory frameworks across jurisdictions.

The National Bank of Kazakhstan is the regulatory architect behind KZTE (Evo), Kazakhstan's first tenge-pegged stablecoin built on the Solana blockchain. KZTE is issued by Intebix, an AIFC-registered digital asset exchange, in partnership with Eurasian Bank, under NBK oversight through its Digital Assets Regulatory Sandbox. The stablecoin maintains a 1:1 peg to the Kazakhstani tenge, backed by national currency reserves held by the issuing entities under central bank supervision. Solana was selected for KZTE's infrastructure based on its throughput capacity and low transaction costs — properties that matter for a stablecoin targeting everyday payment and crypto-fiat conversion use cases. KZTE enables users to convert cryptocurrency into tenge-denominated stablecoins and conduct trading operations, with Mastercard connecting KZTE to global stablecoin issuers and enabling crypto card payment rails. The NBK's proactive role in co-designing the regulatory conditions for KZTE distinguishes Kazakhstan's approach from jurisdictions where central banks merely tolerate privately issued stablecoins.

Splyce Finance flagship product is splyceUSDC, a yield-bearing stablecoin with a rising share-price model rather than a rebasing mechanism. Users deposit USDC and receive splyceUSDC; as yield accrues, the exchange rate between splyceUSDC and USDC rises, so holders automatically accumulate returns without claiming or compounding transactions. There are no fees, no lock-up periods, and no minimum deposit requirements, and holders can redeem to USDC at any time. splyceUSDC targets a blended 7-10% APY by drawing on two structurally uncorrelated yield sources. The liquid bucket, roughly 60% of the portfolio, deploys into Ethena sUSDe, Sky sUSDS, and Maple Finance syrupUSDC. The fixed-income bucket, roughly 40%, captures lending spreads from Single Asset Vaults where institutional borrowers lock in fixed rates at origination. When DeFi market rates compress, the fixed-rate leg continues earning its contractual return, providing stability to the overall yield. splyceUSDC is live on Solana and Stellar, with Sui expansion planned.

Brex announced native stablecoin payments on September 30, 2025, positioning itself as the first global corporate card platform to enable businesses to accept, hold, and send stablecoins and to pay card balances directly with stablecoins. The initial supported asset is USDC, with transfers settling in seconds at zero conversion fees across a rail operating 24 hours a day, seven days a week. Solana is integral to the stablecoin payments launch, with the Solana Foundation committed to the integration from the start. Solana ecosystem companies holding USDC on-chain can use the platform to pay business expenses and receive stablecoin payments from customers without converting to or from fiat, eliminating the need to route funds through traditional banking infrastructure.

Wombat Exchange is a stablecoin-focused AMM that independently tracks each asset's coverage ratio rather than pooling assets symmetrically, enabling low-slippage swaps while isolating LP positions from depeg events in other stablecoins within the same pool. Single-sided liquidity provision is supported, allowing LPs to deposit one stablecoin denomination without exposure to price dynamics of other assets. The protocol supports over 140 assets and has processed more than $3.9 billion in cumulative trading volume as of mid-2026. Wombat 2.0 names Solana as a target deployment network, which would bring the BNB Chain-proven stableswap model to Solana's stablecoin liquidity ecosystem via cross-chain pool infrastructure built on Wormhole.

Yala's central product is $YU, a Bitcoin-backed overcollateralized stablecoin that lets BTC holders unlock liquidity without bridging assets off the Bitcoin network. Users deposit BTC as collateral and mint $YU against it, maintaining Bitcoin exposure while gaining a liquid asset deployable across DeFi protocols. The peg is maintained through on-chain collateral management, a stability pool, and a peg stability module governing redemptions. MetaMint lets users mint $YU directly from Bitcoin mainnet on a destination chain without a prior bridge transaction, reducing friction and custodial risk. The stablecoin runs on both EVM-compatible chains and Solana, giving BTC holders access to fast, low-fee DeFi opportunities. Yala's modular architecture supports deployment across additional chains without redesigning the core collateral and peg mechanics.

Meson Finance is built specifically for stablecoin transfers, enabling native USDC and USDT to move across more than 60 blockchain networks — including Solana — without wrapped intermediaries or synthetic representations. The protocol swaps native stablecoins for native stablecoins, so users receive actual USDC or USDT on the destination chain rather than a bridge-wrapped variant, eliminating the depeg and liquidity risks associated with synthetic token models. Transfers complete in one to two minutes and cost 0.05% with a $0.50 minimum, with fees waived on users' first three daily swaps up to $3,000 in volume. A V2 bus mode batches multiple transfers to reduce effective gas costs by up to 90% for participants willing to accept a slightly longer wait. Premium tiers at $6.99 to $26.99 per month support up to $500,000 in monthly fee-free stablecoin transfers, positioning Meson as practical infrastructure for both individual users moving stablecoins onto Solana and higher-volume participants managing cross-chain treasury flows.

Altitude is built on dollar-backed stablecoins as its core settlement layer, enabling businesses to hold and transact in stablecoin-denominated accounts rather than traditional bank accounts. Stablecoin reserves are backed 1:1 by dollar-equivalent assets and subject to regular independent audits, and the platform supports 24/7 instant settlement across borders without the delays of interbank clearing windows. Accounts are self-custodial, with stablecoin balances held in wallets secured by Squads Protocol, the smart account standard that has protected more than $10 billion in assets across 500-plus organizations on Solana. Altitude extends stablecoin reach across Solana, Ethereum Mainnet, Base, Avalanche, and Tempo, and offers 3.25% APY on uninvested balances backed by US Treasuries, bridging the gap between passive stablecoin holding and active yield generation for operating businesses.

VNX issues three regulated European-currency stablecoins—VEUR (euro), VCHF (Swiss franc), and VGBP (British pound)—each backed by a two-tier structure of gold reserves and fiat currency holdings. Minting requires KYC/AML-verified registration on the VNX platform, while secondary-market trading remains open to anyone. VCHF launched as the first regulated digital Swiss franc stablecoin and subsequently expanded to multiple DeFi platforms after its debut on Bitstamp. On Solana, VEUR and VCHF trade on Orca, Raydium, and Kamino, filling a gap for DeFi participants wanting euro or franc exposure without a dollar-denominated intermediary. As of May 2025, VCHF had recorded 112.3 million VCHF in total volume across 1.3 million transactions, and VEUR saw 103.6 million VEUR across 1.2 million transactions. Reserve adequacy is regularly verified by independent auditors, with Areva General Auditing confirming adequate backing for December 2023 and December 2024.

ZARP is a fully collateralized stablecoin pegged 1:1 to the South African Rand, giving South Africans and anyone dealing in ZAR access to programmable, borderless digital currency without crypto price volatility. Every token in circulation is backed by rand held in a treasury managed by Old Mutual Wealth, one of Africa's largest institutional asset managers, and the project has maintained an over-collateralized state since launch. On Solana, ZARP is deployed as a native token tradeable on Orca and accessible via the Jupiter aggregator. With a circulating supply of approximately R84.9 million against R92 million in reserves, and more than 314,000 lifetime on-chain transactions, ZARP gives Solana protocols a foundation for building ZAR-native financial products without requiring rand-to-dollar conversion at every step.

AUDD is an Australian dollar-pegged stablecoin issued by AUDC Pty Ltd, a subsidiary of ASX-listed Novatti Group, maintaining a 1:1 peg with the AUD through fully reserved, segregated custodial bank accounts. In February 2026, ASIC formally granted AUDC Australian Financial Services Licence No. 700123, authorizing it to issue non-cash payment products to both retail and wholesale clients. On Solana, AUDD is deployed as a native SPL token and has grown with the support of the SOLAUDD grant program, launched jointly by AUDC and Superteam Australia to attract AUD-denominated application developers. AUDD was listed on Coinbase's global retail platform in September 2025, the first Australian dollar stablecoin to reach that milestone, and monthly reserve attestations published on AUDD's transparency page confirm full collateralization.

AbraFi, the Solana-native protocol launched by Abra founder Bill Barhydt at the 2025 Solana Breakpoint conference, issues USDAF — a delta-neutral synthetic dollar designed to provide permissionless access to U.S. dollar exposure without dependence on traditional bank-backed issuers. USDAF is fully backed by a diversified pool of liquid stablecoins including USDT and USDC, along with staked SOL, with hedging strategies maintaining its peg. The protocol launched with initial liquidity seeded across multiple key Solana DeFi venues and has planned integrations for margin, collateral, neobank, and wallet applications. sUSDAF, the yield-bearing staked version, targets 5–15% net annual yields by capturing protocol revenue from staking, derivatives, and fees, positioning USDAF as infrastructure-grade stable liquidity for the Solana ecosystem.

1Money.com supports USDC, USDT, PYUSD, RLUSD, USDG, EURC, and MXNB through a unified API that lets businesses buy, sell, convert, and route stablecoin payments without managing multi-chain wallets independently. The platform charges zero platform fees with no monthly minimums. Fiat on- and off-ramps span ACH, Fedwire, SEPA, SWIFT, PIX, and UPI, connecting stablecoin rails to domestic payment systems across multiple jurisdictions. Solana is among the supported deposit and withdrawal networks. The 1Money Network, the company's proprietary Layer 1, provides dedicated stablecoin settlement with no gas fees, under-one-second finality, and 250,000 TPS via horizontal sharding. The network carries no native speculative token; value flows exclusively through stablecoins. A January 2026 partnership with M0 enabled native stablecoin minting on the network. Seed funding of over $23 million came from Galaxy Ventures, Hack VC, and Kraken Ventures.

The centerpiece of Assetux is aaaBTC, a cross-chain token pegged 1:1 to Bitcoin and deployable across multiple blockchain networks including Solana. Rather than requiring users to hold existing BTC, aaaBTC can be earned through Telegram microtasks, lowering the barrier for new participants to gain exposure to a Bitcoin-backed asset. Holders can stake aaaBTC at yields of up to 18% APY, giving the token a yield-bearing dimension uncommon among simple wrapped or pegged assets. The token is also redeemable at partner merchants in five countries, connecting its on-chain value to tangible real-world purchasing power.

SP3ND represents a concrete application of stablecoin utility outside of DeFi, using USDC as the primary payment rail for consumer goods purchased through Amazon and eBay. The platform accepts USDC alongside SOL and BONK, with USDC preferred given its price stability for predictable transaction values. By removing the requirement to convert stablecoins to fiat before spending, SP3ND demonstrates that USDC can function as a true digital dollar for everyday commerce on mainstream retail platforms. This use case — settling retail purchases directly from a Solana wallet — is distinct from stablecoin applications in lending, yield farming, or speculative trading. The no-KYC design, with identity verification required only for orders exceeding $10,000, means most USDC-denominated purchases flow through the platform with the same permissionless character that defines stablecoin transfers more broadly. SP3ND maintains sanctions compliance screening on all transactions regardless of verification status, threading the needle between regulatory adherence and frictionless access. Solflare wallet users receive a platform fee discount through a partnership arrangement, creating an incentive layer within the Solana stablecoin user base. Recorded purchase volume of over $17,000 across more than 220 orders suggests genuine consumer appetite for spending stablecoins on physical goods.

OVEX's cross-border payments infrastructure relies on stablecoins — primarily USDT and USDC — as the settlement medium for transferring value across borders without correspondent banking intermediaries. The platform converts fiat into stablecoins at origin, routes value across blockchain rails, and converts back to local currency at destination, leveraging near-instant settlement and low fees compared to traditional SWIFT-based transfers. As Solana has grown into one of the primary chains for stablecoin activity with over $15 billion in on-chain stablecoin supply, OVEX's settlement architecture aligns with Solana's payments stack as a practical settlement layer. SOL is also a directly supported trading asset on the OVEX platform, available for purchase and sale against ZAR and other fiat currencies across more than 26 jurisdictions, making OVEX a primary regulated on-ramp and off-ramp for Solana in African markets.

Cross River Bank integrated USDC stablecoin settlement into its regulated banking infrastructure through Visa's stablecoin settlement pilot in December 2025. Running on the Solana blockchain alongside card platform Highnote, the pilot enables U.S. issuer and acquirer partners to settle card activity in USDC around the clock, seven days a week, in place of conventional multi-day clearing windows. USDC balances move between counterparties on-chain within a framework governed by bank supervision and defined settlement parameters. Beyond the Visa pilot, Cross River has built stablecoin payments as a native capability across its platform, unifying fiat and stablecoin flows through a single interoperable system on both Ethereum and Solana. The bank provides bank-grade KYC and AML screening and FDIC-insured custody for fintech partners operating with stablecoins, giving crypto-native companies regulated infrastructure to manage stablecoin flows at institutional scale. Cross River's Head of Crypto described the initiative as bringing onchain settlement safely into mainstream financial services.

Deel has embedded stablecoin infrastructure throughout its payroll platform, supporting USDC, EURC, and USDT as disbursement options for both contractors and full-time employees across 150 countries. In June 2026, the company launched DLUSD, a proprietary USD-denominated payroll stablecoin built in partnership with Stripe's infrastructure and issued through Bridge's Open Issuance platform. DLUSD is held in Privy embedded wallets and settles on the Tempo payment network, initially targeting Argentina before expanding across Latin America, APAC, MENA, and Africa. In Argentina, 85 percent of Deel's contractors requested USD payouts over pesos in 2025 following significant local currency depreciation. DLUSD holders can earn yield on idle balances through on-chain vaults and will gain access to a dedicated Deel Card for direct spending anywhere card payments are accepted. Deel's stablecoin rollout began with contractor payments, where more than 10,000 contractors were already receiving stablecoin disbursements before the feature was extended to formal employees. Solana serves as one of the primary settlement networks, chosen for its high throughput and cost efficiency — the network processed over $1 trillion in stablecoin volume during 2025. This positions Deel as a full stablecoin financial account for global workers who lack reliable access to US banking infrastructure.

The Volatility Risk Control System, abbreviated VRCS, is a core settlement feature of 0xProcessing that enables merchants to receive stablecoin-denominated balances even when customers pay in volatile assets. When a payment arrives in SOL, BTC, or another price-volatile cryptocurrency, VRCS automatically converts the incoming funds into a supported stablecoin at the moment of settlement, shielding merchants from short-term price movements in the underlying asset. USDT and USDC are the primary stablecoin settlement destinations, supported across multiple networks including Solana, Ethereum, TRON, and BNB Chain. Merchants retain full control over settlement preference, choosing to hold crypto directly, auto-convert to stablecoins, or off-ramp to fiat via SWIFT or SEPA. Stablecoins also function as first-class payment instruments on the platform, not only as settlement currencies. Customers can pay directly in USDT or USDC on any of the supported networks, making stablecoin-native transactions a standard use case for merchants in regulated industries or jurisdictions where fiat-pegged instruments are preferred. For Solana-based merchants, the VRCS system is particularly practical: a merchant can quote prices in USD, accept payment in SOL, and automatically receive USDC in the settlement balance without manually managing any conversion step. This positions 0xProcessing's stablecoin infrastructure as a bridge between on-chain payment rails and conventional treasury management.