Stablecoin Protocols & Pegged Assets

CargoBill uses stablecoins as the settlement layer for cross-border logistics payments, enabling freight operators to transact in stablecoin-denominated amounts that clear in seconds at a flat fee with no transaction size cap. The choice of stablecoins over fiat wire transfers eliminates the variable costs and delays that characterize SWIFT-based international payments. Running on Solana, the platform leverages sub-second finality and near-zero transaction fees to make stablecoin payments economically practical at any invoice size. CargoBill won first place in the Stablecoins track at the Solana Breakout Hackathon in 2025. The project has issued a native token, CBILL, with a total supply of one billion tokens on Solana. The token role — whether as a fee mechanism, governance asset, staking vehicle, or cashback instrument — had not been formally specified in public documentation at time of research. Enterprise on/off-ramps allow businesses to move between stablecoin balances and traditional fiat, including US-based bank accounts with debit card access.

Cryptal issues a suite of proprietary fiat-pegged tokens called TOL Coins, comprising TOGEL (pegged to the Georgian Lari), TOUSD (pegged to the US Dollar), and TOEUR (pegged to the Euro). These function as an internal account mechanism: when a user deposits fiat into their Cryptal wallet, the corresponding TOL token is automatically credited to their balance for trading. TOGEL is deployed on Binance Smart Chain as a BEP-20 token, and all three are described as fully backed by cash reserves held by Cryptal. The TOL stablecoin framework is now under regulatory scrutiny following Georgia's 2025 stablecoin legislation, which requires Cryptal to complete a formal asset legalization procedure before a transition window closes in September 2026. Operating in a country ranked third globally for per-capita crypto adoption according to the Chainalysis 2025 index, Cryptal's locally issued stablecoins — particularly TOGEL, which provides a rare on-chain representation of the Georgian Lari — sit at the center of an emerging regulatory environment in Central and Eastern Europe.

Uniwire supports USDT and USDC across multiple blockchain networks, including Solana, Ethereum, and Binance Smart Chain, with stablecoin settlement available on both the deposit and payout sides of a transaction. Merchants can configure automatic conversion rules that swap incoming volatile cryptocurrency into stablecoins at the moment of deposit, removing exposure to price volatility during settlement windows. These controls are available as automated rule-based workflows or via manual controls in the operator dashboard, giving operators flexibility without requiring custom development. A dedicated address book and payout policies system lets operators apply configurable risk thresholds to stablecoin outgoing transactions. Settling in Solana-native USDC through Uniwire provides sub-cent transaction fees and sub-second finality compared to Ethereum-based stablecoin alternatives, making the platform particularly attractive for high-frequency merchant payments. USDT and Wrapped Solana are also supported on the Solana network, extending the stablecoin and quasi-stable asset options available to merchants. By integrating at the native Solana layer rather than through bridges, the platform avoids the cross-chain custody risks associated with wrapped stablecoin representations.

Ivorypay is a stablecoin-native payment gateway that uses USDC and USDT as its primary settlement assets to connect African merchants and businesses to global crypto liquidity. The platform automatically converts incoming stablecoins to local currencies and settles directly to bank accounts or mobile money wallets, removing the need for merchants to manage crypto custody or foreign exchange risk. Ivorypay is a member of the Circle Alliance, with USDC support spanning Solana, Base, Ethereum, and Hedera, reflecting its emphasis on stablecoin settlement rather than native token speculation. The platform originated in 2022 as a Solana-native gateway, leveraging the network's low fees and fast finality for small-value African commerce before expanding to a multi-chain architecture covering eight or more networks. In June 2026, Ivorypay became the first company in Africa to launch the X402 payment protocol, which uses stablecoins as the settlement layer for machine-to-machine transactions — enabling AI agents and autonomous applications to pay for digital resources on-chain without human intervention across Solana, Base, Ethereum, Polygon, and Arbitrum. Sub-Saharan Africa recorded approximately $205 billion in crypto volume in 2024–2025, and Ivorypay positions USDC and USDT as the practical bridge between that global stablecoin liquidity and Africa's predominantly mobile-money economy.

Recurrente integrates native stablecoin payments, specifically USDT and USDC, directly into its SMB payment platform, giving Central American merchants a practical route to receive digital-dollar payments without traditional banking friction. Merchants enable stablecoin acceptance through the dashboard, which generates a per-transaction wallet address; customers pay from wallets or exchanges including Binance, Coinbase, and MetaMask, with on-chain confirmation in minutes. Supported networks include TRC-20 and Polygon for low fees, as well as ERC-20 and BNB Smart Chain. USDC, a key asset in the Solana ecosystem, is accepted alongside USDT, situating Recurrente within the stablecoin payment infrastructure expanding across Latin America, a region where stablecoins dominate crypto transaction volumes. Merchants can hold received stablecoins in their Recurrente wallet or convert them to Guatemalan quetzals for direct bank deposit, providing flexibility in managing digital-dollar exposure for real-world commercial use cases.

Nana Wallet is built from the ground up around dollar stablecoins including USDC, USDT, and Celo cUSD, positioning them as the practical savings and spending currency for users in Sub-Saharan Africa who face chronically volatile local currencies. By holding USDC or USDT inside Nana, users protect savings from naira, Kenyan shilling, or Ghanaian cedi depreciation without needing to understand blockchain infrastructure or manage seed phrases. The app displays balances in multiple local currency equivalents including KES, NGN, GHS, UGX, MWK, and CDF, and applies live FX rates at the point of conversion, bridging stablecoin dollar liquidity with everyday financial needs across the continent. Solana is one of four supported settlement chains specifically highlighted for USDC and USDT cash-outs to mobile money and bank accounts, with Solana sub-cent fees making it economical for Nana to sponsor all network costs on behalf of users.

Stableyard is built on the premise that stablecoins should be the native unit of commerce, not a conversion step. The platform accepts USDC, USDT, PYUSD, and USDCx, with Solana USDC transfers using the native TransferChecked instruction set to preserve composability with Phantom and other SPL-compatible wallets. A Stablecoin Deposits product provides a fiat-to-stablecoin onramp for merchants and users who want to fund wallets without navigating centralized exchanges, while currency conversion is available across 60+ fiat currencies through Stableyard's banking network. For merchants who hold stablecoin balances between payment cycles, idle funds can optionally generate yield via Aave integration on certain chains, keeping capital productive rather than sitting dormant until the next disbursement.

Myaza's entire value proposition is built on stablecoin rails — specifically USDC and EURC — as the settlement layer for cross-border African payments. The choice was driven by an early operational crisis in which the team ran out of liquidity while processing high-volume transfers, confirming that volatile cryptocurrency or slow SWIFT wires could not meet their requirements. The result is an architecture where stablecoins absorb all foreign exchange risk and settlement complexity from end users: both sides of a transaction see a clean local-currency experience while the platform invisibly handles swaps, network fees, and liquidity management. The platform supports USDT and USDC receipt across Solana, Ethereum, Polygon, TRON, and Stellar, giving businesses and individuals flexibility in how they fund and receive payments. Myaza is a recognized participant in Circle's Arc ecosystem, positioning itself at the forefront of USDC and EURC adoption for internet-native African finance. With over $15 million in cumulative transaction volume and integration with Yellow Card — one of Africa's largest stablecoin infrastructure providers — Myaza demonstrates real-world stablecoin utility serving daily financial needs for 25,000+ users across 20+ African nations.

Speed has implemented USDT on the Bitcoin Lightning Network using the Taproot Assets protocol developed by Lightning Labs, creating USDT-L as a natively Lightning-native stablecoin. This extends stablecoin utility to Bitcoin's layer-2 without relying on Ethereum gas fees or TRON infrastructure, positioning USDT-L at approximately 0.05% transaction cost — well below Ethereum ($0.50 to $7), TRON ($1.50 to $3.50), and Solana ($0.01 to $0.20). Users can acquire USDT-L by bridging from Ethereum-based USDT or through Lightning payments that auto-convert on receipt. Tether's strategic $8 million investment in Speed in December 2025 reflects the significance of USDT-L as an emerging distribution channel for the world's largest stablecoin. Speed's wallet also supports USDC and Tether Gold (XAUT), and the broader platform handles USDT across Ethereum (ERC-20), TRON (TRC-20), and Solana networks. This multi-network architecture positions Speed as stablecoin payments infrastructure bridging Bitcoin-native settlement with the wider crypto ecosystem.

BoundlessPay uses USD-pegged stablecoins, primarily USDT and USDC, as the core settlement layer for all transactions on the platform. Rather than moving traditional fiat between bank accounts, cross-border transfers, currency exchanges, and card payments are all routed through stablecoin balances that settle near-instantly and carry lower fees than bank wire alternatives. USDC, which is natively issued on Solana and formed part of the over $1 trillion in stablecoin volume processed on Solana rails in 2025, is one of the platform's core reserve assets. The stablecoin model allows BoundlessPay to offer users dollar-denominated accounts and spending without requiring relationships with US correspondent banks, a significant barrier for users in emerging markets. On-ramp and off-ramp functions convert local fiat to stablecoin and back, giving users access to the stability of the US dollar even in markets where dollar cash is scarce or carries a premium. The platform's architecture illustrates how stablecoins function as programmable money in real-world payment contexts, providing practical dollar liquidity to users in currency-volatile economies.

Trillion Digital provides institutional-grade stablecoin liquidity for professional counterparties globally, offering on-demand access to USDC and dollar-denominated digital assets via OTC and electronic trading. As a Circle Alliance Program member, the firm is formally embedded in the USDC commercial ecosystem, with a stablecoin business that has become a growing strategic focus as dollar-denominated assets scale institutionally. The firm uses stablecoins as settlement rails for deliverable FX across 180+ countries with T+0 settlement support. USDC on Solana processed over $650 billion in volume in a single month in early 2026, making institutional stablecoin liquidity providers like Trillion Digital structurally important to Solana stablecoin market depth. Partnerships with Borderless.xyz and Checker in 2025 extended its cross-border stablecoin settlement capacity, while Utila Link membership connects it to the broader institutional digital asset network.

Amulets builds a practical spending layer on top of Solana's stablecoin ecosystem, treating USDC and USDT on Solana as the primary funding currencies for a virtual Visa card accepted at over 150 million merchants worldwide. Users hold stablecoins in a self-custodial wallet and draw on those balances when making purchases, without routing funds through a bank account or converting to fiat ahead of time. The model represents a direct application of stablecoin-denominated payments to everyday commerce, extending USDC and USDT utility beyond speculative holding or trading into transactional real-world use. The app deepens stablecoin engagement further through its Cryptoback cashback program, which pays up to 5% back in SOL on eligible card purchases funded by stablecoin balances. This mechanism allows users to accumulate a native Solana asset through ordinary spending activity, connecting everyday transactions to the broader Solana ecosystem. Amulets supports multiple assets across Solana, Ethereum, Bitcoin, Base, BNB Chain, and Polygon, but positions Solana-native USDC and USDT as the primary and preferred funding currencies for the card product.

FinchTrade's primary trading instruments are stablecoins — USDT, USDC, and EURC — which serve as the settlement medium for both its OTC desk and cross-border B2B payment corridors. The platform averages 30-minute settlement for stablecoin transactions, with clients not required to pre-fund 100% of trade value due to its post-trade settlement model. Margin-based trading limits typically require only 10–20% collateral, improving capital efficiency for institutional participants executing large-volume stablecoin flows. Fiat conversion is available in EUR, USD, GBP, CHF, and AED through regulated banking partners. Stablecoin delivery is supported across Ethereum, Polygon, Solana, Tron, and BNB Smart Chain. Clients can fund in fiat via SEPA or SWIFT and receive USDC or USDT to a Solana wallet address, or reverse the flow, positioning FinchTrade as a regulated fiat on-ramp and off-ramp for Solana-based treasury operations. The cross-border payment product further uses USDC and USDT as settlement rails for corridors in Africa, Latin America, and the UAE, converting to local currencies at locked pre-transfer rates. No trading fees apply, and there is no minimum trade amount.

Cash App added USDC stablecoin support in May 2026, integrating it across Solana, Ethereum, Polygon, and Arbitrum. The implementation abstracts the stablecoin layer entirely: each verified user account is assigned an on-chain address for each supported network, and incoming USDC is automatically converted to dollars at no fee. Outgoing transfers work in reverse, with Cash App converting dollars to USDC before completing the on-chain transaction on the user's behalf. Block's approach to stablecoin integration was driven by customer demand rather than strategic preference. CEO Jack Dorsey publicly stated a preference for Bitcoin-only products but acknowledged that customers want stablecoin capability. USDC is the only stablecoin supported at launch, and Block has described its stance as chain and coin agnostic, with plans to add stablecoins based on demand. The integration brings stablecoin settlement infrastructure to roughly 59 million users, most of whom will encounter it as a standard payment feature rather than a crypto product.

Western Union launched USDPT, a USD-denominated payment stablecoin built on Solana and issued exclusively by Anchorage Digital Bank N.A., the first federally chartered digital asset bank in the United States. Reserves consist of bank deposits, U.S. Treasury bills, and short-duration cash equivalents, with the token redeemable 1:1 for U.S. dollars and supervised by the Office of the Comptroller of the Currency at the issuance level. USDPT powers three product tracks: internal treasury and agent settlement replacing correspondent banking, a Digital Asset Network linking licensed exchanges to Western Union cash-out locations, and a consumer wallet paired with a Visa card targeted for 40+ countries in 2026. Solana was selected for its high throughput, near-instant finality, and low per-transaction cost—properties required for moving money at scale across Western Union's global network.

SoFi Technologies is the issuer of SoFiUSD, the first stablecoin launched by a nationally chartered US bank. Issued by SoFi Bank, N.A. in December 2025, SoFiUSD is fully reserved 1:1 and backed by cash held directly at the US Federal Reserve, removing the credit and liquidity risks common to non-bank stablecoin issuers. The stablecoin launched initially on Ethereum and expanded to Solana in May 2026. Solana was selected for its sub-cent fees and sub-second finality, which suit the economics of high-volume retail payment systems. SoFiUSD targets 24/7 card network settlement, point-of-sale purchases, international remittances, and settlement for Galileo's global fintech partner network. In March 2026, Mastercard designated SoFiUSD as a settlement currency across its global network, extending reach without requiring new direct consumer relationships.

bnUSD is Balanced's native stablecoin, pegged to the US dollar and backed by a basket of more than 20 cryptocurrencies including BTC, ETH, SOL, AVAX, USDC, and USDT. The protocol is over-collateralized by design — total bnUSD supply cannot exceed the aggregate value of deposited collateral — and borrowers pay a fixed 2% annual rate plus a 0.1% origination fee to mint new supply. Two mechanisms keep the peg stable: liquidations trim undercollateralized positions to reduce bnUSD supply when collateral values fall, and the Stability Fund handles open-market price deviations by minting or redeeming bnUSD against USDC and USDT at a 1:1 ratio. What distinguishes bnUSD from most cross-chain stablecoins is its native portability — it moves across all 13 supported networks at a 1:1 rate without wrapped versions or a bridge, making it practical for cross-chain payments, leveraged positions, and liquidity provisioning on remote chains.

StableFlow is DapDap's purpose-built cross-chain stablecoin bridging service, enabling users to move USDT between Solana and nine supported networks at low cost and minimal slippage. The platform launched in October 2025 with USDT support and plans to add USDC, USD1, USDH, and mUSD, targeting a common pain point for users who hold stablecoins across multiple chains. The solver-competition model through NEAR Intents allows professional market makers to bid on transfer requests using a shared lending facility that can mobilize capital across the network. This design lets seven-figure transfers execute without significant price impact, making StableFlow suited for institutional-scale stablecoin movement between Solana and Ethereum-family chains. Fees are fixed at 0.01% regardless of transfer size.

Saber Money uses USDC and USDT as the settlement layer for cross-border business payments, bridging incompatible national financial systems without introducing currency risk during the transfer. The stablecoin model supports fiat-in, fiat-out transactions where digital assets touch the value only while in transit, enabling 24/7 settlement across corridors that legacy banking infrastructure cannot serve efficiently or affordably. The company is a Beneficiary Financial Institution on Circle's Payments Network, enabling on-chain USDC transfers that deliver directly to recipient bank accounts in local fiat. Saber's platform represents a production deployment of stablecoins for institutional payment infrastructure, with over $3 billion in processed cross-border volume as of mid-2026 across active corridors in India, Europe, Indonesia, the Philippines, and the UAE.

Macropod issues AUDM, a fully regulated Australian dollar stablecoin backed 1:1 by AUD reserves held in segregated trust accounts at a Big 4 Australian bank. AUDM operates without algorithmic mechanisms or fractional reserves: when AUD is deposited, AUDM is minted; when AUDM is redeemed, tokens are burned and the corresponding AUD returned. Reserve balances are published monthly and verified by an independent auditor, and AUDM smart contracts have been audited by OpenZeppelin. Macropod holds Australian Financial Services Licence AFSL 566313 from ASIC, making it the first standalone licensed stablecoin issuer in Australia. AUDM is deployed on Solana, Ethereum, Base, and Redbelly Network, and listed on BTC Markets, SwyftX, OKX Australia, and Independent Reserve, among others. Circulating supply stood at approximately 2 million AUDM as of mid-2026, with backing investors including Betashares, Galaxy Digital, and Flowdesk.