| # | Issuer | Stage | Products | Aggregate market cap |
|---|---|---|---|---|
| 1 | Tether | Private | 2 | $183.3B |
| 2 | Circle | Public | 2 | $74.1B |
| 3 | Sky Protocol | DAO | 4 | $18.7B |
| 4 | Paxos | Private | 3 | $6.1B |
| 5 | Ethena | DAO | 2 | $6.0B |
| 6 | World Liberty Financial | Private | 1 | $4.3B |
| 7 | Ripple | Private | 1 | $2.3B |
| 8 | Ondo Finance | Private | 1 | $2.2B |
| 9 | TRON DAO | DAO | 1 | $1.5B |
| 10 | United Stables | Private | 1 | $1.4B |
| 11 | Falcon Finance | Private | 1 | $1.3B |
| 12 | Binance | Private | 1 | $1.3B |
| 13 | Maple Finance | Private | 2 | $1.3B |
| 14 | Aave | DAO | 1 | $698M |
| 15 | Usual Protocol | Private | 1 | $547M |
| 16 | Figure | Public | 1 | $505M |
| 17 | Archblock / TrueUSD | Private | 1 | $494M |
| 18 | Ethena / Anchorage Digital | Private | 1 | $482M |
| 19 | First Digital Trust | IPO Filed | 1 | $326M |
| 20 | Apyx | Private | 1 | $316M |
| 21 | USD.AI Foundation | Private | 1 | $311M |
| 22 | Agora | Private | 1 | $240M |
| 23 | Solstice Labs | Private | 1 | $235M |
| 24 | USDD Protocol | DAO | 1 | $212M |
| 25 | Curve Finance | DAO | 1 | $200M |
| 26 | Société Générale – FORGE | Private | 1 | $192M |
| 27 | Anchorage Digital | Private | 1 | $184M |
| 28 | Bridge | Private | 1 | $129M |
| 29 | OnRe | Private | 1 | $106M |
| 30 | Frax Finance | DAO | 1 | $101M |
| 31 | Cap Labs | Private | 1 | $85M |
| 32 | f(x) Protocol | DAO | 1 | $80M |
| 33 | Midas | Private | 1 | $74M |
| 34 | Inverse Finance | DAO | 1 | $70M |
| 35 | Liquity | Private | 2 | $63M |
| 36 | InfiniFi Protocol | Private | 1 | $46M |
| 37 | Frankencoin | Private | 1 | $43M |
| 38 | Unitas | Private | 1 | $42M |
| 39 | Gemini | Private | 1 | $39M |
| 40 | Eurite / Banking Circle | Private | 1 | $38M |
| 41 | Binance / Paxos | Private | 1 | $34M |
| 42 | Terra Classic | DAO | 1 | $28M |
| 43 | Monerium | Private | 1 | $27M |
| 44 | Reserve Protocol | DAO | 2 | $24M |
| 45 | Strata | Private | 1 | $21M |
| 46 | QiDao / Mai Finance | DAO | 1 | $11M |
| 47 | STASIS | Private | 1 | $7M |
| 48 | Origin Protocol | Private | 1 | $6M |
| 49 | Fei Protocol | DAO | 1 | $4M |
| 50 | Abracadabra.money | DAO | 1 | $2M |
| 51 | Mountain Protocol | Private | 1 | $1M |
| 52 | Level | Private | 1 | $403,017 |
| 53 | Angle Protocol | DAO | 0 | — |
| 54 | JUSD Fund | Private | 1 | — |
| 55 | Palm USD | Private | 1 | — |
| 56 | Pleasing Golden | Private | 1 | — |
| 57 | QIVALIS | Private | 1 | — |
| 58 | River | Private | 1 | — |
| 59 | Synthetix | DAO | 1 | — |