Firms that arbitrage the dollar peg
The market makers and arbitrage desks that hold stablecoin pegs in place, and the concentration risk that creates.
Who makes markets in stablecoins?
8
firms tracked as active in dollar-token liquidity
usd.net tracks 8 firms that quote and arbitrage dollar-token pegs. Peg stability is not automatic: it is a small number of desks with direct issuer redemption access choosing to close the gap, which is itself a concentration risk, as of 02 Oct 2026 (usd.net).
Formula: Firms that arbitrage the dollar peg is computed live from the market makers dataset (market maker count, venues covered, role).
Sources: Market makers · updated 18 min ago
Tracked market makers
Nothing to plot
No data for this selection yet.
Tracked market makers
| Firm | Role |
|---|---|
| WintermuteAlgorithmic liquidity provider active across CEX, DEX and OTC stablecoin flow. | Active |
| Cumberland (DRW)The crypto arm of a long-established traditional trading firm. | Active |
| Jump CryptoTrading firm and infrastructure investor with deep stablecoin and bridge involvement. | Active |
| GSRLong-running crypto market maker with a large token-issuer client base. | Active |
| B2C2Institutional liquidity provider owned by a Japanese financial group. | Active |
| Flow TradersListed European ETP market maker that also quotes digital assets. | Active |
| KeyrockEuropean market maker focused on token issuers and on-chain liquidity. | Active |
| Amber GroupAsia-based trading and asset management firm active in stablecoin flow. | Active |
Cite this figure
Source: usd.net — Firms that arbitrage the dollar peg. https://usd.net/stats/stablecoin-market-makers