Regulated stablecoins, ranked
Tokens whose issuer operates under an explicit licensing regime — MiCA in the EU, NYDFS trust charters, or an equivalent payment-institution licence. Regulation constrains reserve quality; it does not guarantee the peg.
| # | Issuer | ||||
|---|---|---|---|---|---|
| 1 | $71.88B | $71.88B | Circle | 91 | |
| 2 | $6.71B | $6.71B | Sky (formerly MakerDAO) | 89 | |
| 3 | $4.77B | $4.77B | Sky (formerly MakerDAO) | 85 | |
| 4 | $3.41B | $3.41B | Paxos Digital Singapore | 92 | |
| 5 | $2.74B | $2.74B | Paxos (for PayPal) | 93 | |
| 6 | $1.76B | $1.76B | Ripple | 91 | |
| 7 | $29.18M | $29.18M | Paxos | 94 |
Frequently asked
+ − Which stablecoins are regulated?
Tokens issued by licensed entities — EU e-money institutions under MiCA, New York trust companies supervised by NYDFS, and equivalents in Singapore, the UK and UAE. The table lists the issuer and jurisdiction for each so you can verify the licence yourself.
+ − Is MiCA compliance the same as being safe?
No. MiCA sets reserve composition, redemption and disclosure rules, which raises the floor materially. It does not remove banking, custody or operational risk, and it says nothing about on-chain liquidity.
+ − Can I redeem a regulated stablecoin directly with the issuer?
Usually yes, but only as a verified account holder and often above a minimum size. Everyone else exits through the secondary market, which is why liquidity still matters for a fully regulated token.