Transparency grades
How much each issuer tells you, and how recently. Every point is a checkable fact: a published reserve report, its age, a named auditor, a described reserve mix, a supervisor, and supply you can verify on-chain.
Assets graded
116
Active, over $25M
Grade A
5
Current, audited, disclosed
Grade D or F
99
Little or stale disclosure
Supply in A or B
$280.22B
Of graded market cap
| Asset | Issuer | Market cap | Score | Grade | Last report | Detail |
|---|---|---|---|---|---|---|
| Ethena Labs | $4.04B | 90 | A | 35d ago | ||
| Circle | $71.95B | 85 | A | 19d ago | ||
| Paxos (for PayPal) | $2.74B | 85 | A | 19d ago | ||
| Ripple | $1.76B | 85 | A | 19d ago | ||
| Paxos | $29.17M | 85 | A | 19d ago | ||
| Tether | $182.94B | 80 | B | 50d ago | ||
| Sky (formerly MakerDAO) | $6.72B | 80 | B | 79d ago | ||
| Sky (formerly MakerDAO) | $4.77B | 80 | B | 79d ago | ||
| BlackRock / Securitize | $2.74B | 75 | B | 19d ago | ||
| Ondo Finance | $2.14B | 75 | B | 19d ago | ||
| Undisclosed | $46.17M | 75 | B | 19d ago | ||
| First Digital | $350.97M | 70 | B | 50d ago | ||
| Undisclosed | $157.72M | 65 | C | 80d ago | ||
| Undisclosed | $106.19M | 65 | C | 80d ago | ||
| Techteryx | $483.49M | 60 | C | 810d ago | ||
| World Liberty Financial | $4.01B | 55 | C | 50d ago | ||
| Undisclosed | $234.53M | 55 | C | 50d ago | ||
| Undisclosed | $1.51B | 25 | F | None published | ||
| Undisclosed | $1.26B | 25 | F | None published | ||
| Undisclosed | $698.09M | 25 | F | None published | ||
| Undisclosed | $506.16M | 25 | F | None published | ||
| Undisclosed | $460.88M | 25 | F | None published | ||
| Undisclosed | $417.03M | 25 | F | None published | ||
| Undisclosed | $304.48M | 25 | F | None published | ||
| Undisclosed | $245.73M | 25 | F | None published | ||
| Undisclosed | $190.76M | 25 | F | None published | ||
| Undisclosed | $175.88M | 25 | F | None published | ||
| Undisclosed | $158.27M | 25 | F | None published | ||
| Undisclosed | $154.34M | 25 | F | None published | ||
| Undisclosed | $145.57M | 25 | F | None published | ||
| Undisclosed | $100.65M | 25 | F | None published | ||
| Undisclosed | $99.95M | 25 | F | None published | ||
| Undisclosed | $98.93M | 25 | F | None published | ||
| Undisclosed | $93.63M | 25 | F | None published | ||
| Undisclosed | $90.12M | 25 | F | None published | ||
| Undisclosed | $74.99M | 25 | F | None published | ||
| Undisclosed | $69.84M | 25 | F | None published | ||
| Undisclosed | $65.42M | 25 | F | None published | ||
| Undisclosed | $64.12M | 25 | F | None published | ||
| Undisclosed | $62.59M | 25 | F | None published | ||
| Undisclosed | $60.86M | 25 | F | None published | ||
| Undisclosed | $53.39M | 25 | F | None published | ||
| Undisclosed | $52.46M | 25 | F | None published | ||
| Undisclosed | $51.40M | 25 | F | None published | ||
| Undisclosed | $50.53M | 25 | F | None published | ||
| Undisclosed | $48.39M | 25 | F | None published | ||
| Undisclosed | $37.25M | 25 | F | None published | ||
| Undisclosed | $30.78M | 25 | F | None published | ||
| Undisclosed | $30.70M | 25 | F | None published | ||
| Undisclosed | $27.84M | 25 | F | None published | ||
| Undisclosed | $27.55M | 25 | F | None published | ||
| Undisclosed | $26.56M | 25 | F | None published | ||
| Undisclosed | $25.90M | 25 | F | None published | ||
| Paxos Digital Singapore | $3.40B | 20 | F | None published | ||
| BlackRock BUIDL | $3.55B | 10 | F | None published | ||
| Circle USYC | $2.98B | 10 | F | None published | ||
| Undisclosed | $2.98B | 10 | F | None published | ||
| Ondo Yield Assets | $2.52B | 10 | F | None published | ||
| Spiko | $2.46B | 10 | F | None published | ||
| Centrifuge Protocol | $1.64B | 10 | F | None published | ||
| Undisclosed | $1.19B | 10 | F | None published | ||
| Falcon Finance | $1.17B | 10 | F | None published | ||
| Blockchain Capital | $956.83M | 10 | F | None published | ||
| Ondo Global Markets | $945.73M | 10 | F | None published | ||
| Anemoy Capital | $872.28M | 10 | F | None published | ||
| WisdomTree | $775.73M | 10 | F | None published | ||
| Invesco USTB | $764.67M | 10 | F | None published | ||
| Undisclosed | $682.86M | 10 | F | None published | ||
| Hastra | $568.37M | 10 | F | None published | ||
| Undisclosed | $550.75M | 10 | F | None published | ||
| Undisclosed | $403.57M | 10 | F | None published | ||
| xStocks | $382.92M | 10 | F | None published | ||
| Ethena USDtb | $357.67M | 10 | F | None published | ||
| Undisclosed | $311.23M | 10 | F | None published | ||
| Re | $289.09M | 10 | F | None published | ||
| Undisclosed | $272.04M | 10 | F | None published | ||
| OnRe | $269.38M | 10 | F | None published | ||
| OpenTrade | $262.28M | 10 | F | None published | ||
| OpenEden TBILL | $253.16M | 10 | F | None published | ||
| VanEck Treasury Fund | $193.33M | 10 | F | None published | ||
| Undisclosed | $185.29M | 10 | F | None published | ||
| DigiFT | $173.44M | 10 | F | None published | ||
| RealT Tokens | $155.06M | 10 | F | None published | ||
| R25 | $131.37M | 10 | F | None published | ||
| Midas RWA | $128.59M | 10 | F | None published | ||
| Undisclosed | $127.04M | 10 | F | None published | ||
| Undisclosed | $122.61M | 10 | F | None published | ||
| Mantle Index Four Fund | $119.28M | 10 | F | None published | ||
| Nest Credit | $115.02M | 10 | F | None published | ||
| RAAC | $114.92M | 10 | F | None published | ||
| Undisclosed | $111.60M | 10 | F | None published | ||
| Undisclosed | $110.96M | 10 | F | None published | ||
| Frax USD | $110.66M | 10 | F | None published | ||
| Valos | $110.19M | 10 | F | None published | ||
| Securitize Tokenized AAA CLO Fund | $102.99M | 10 | F | None published | ||
| Lofty | $100.13M | 10 | F | None published | ||
| Apollo Diversified Credit Securitize Fund | $95.32M | 10 | F | None published | ||
| Usual USD0 | $92.72M | 10 | F | None published | ||
| Undisclosed | $75.85M | 10 | F | None published | ||
| Undisclosed | $74.04M | 10 | F | None published | ||
| Sky RWA | $73.60M | 10 | F | None published | ||
| Undisclosed | $69.98M | 10 | F | None published | ||
| Undisclosed | $66.55M | 10 | F | None published | ||
| MatrixDock XAUM | $66.10M | 10 | F | None published | ||
| Theo Network thBill | $63.52M | 10 | F | None published | ||
| stUSDT | $62.87M | 10 | F | None published | ||
| ORIGYN | $51.27M | 10 | F | None published | ||
| Undisclosed | $50.03M | 10 | F | None published | ||
| Undisclosed | $48.92M | 10 | F | None published | ||
| Brickken | $42.39M | 10 | F | None published | ||
| Tangible RWA | $42.37M | 10 | F | None published | ||
| KAIO | $41.28M | 10 | F | None published | ||
| Undisclosed | $34.80M | 10 | F | None published | ||
| Undisclosed | $30.61M | 10 | F | None published | ||
| Undisclosed | $27.64M | 10 | F | None published | ||
| Undisclosed | $25.97M | 10 | F | None published |
Grades measure disclosure only. For risk, see the safety score methodology and the attestation tracker. Issuers can correct a grade via the issuer page.
Frequently asked
+ − Is a transparency grade the same as a safety score?
No. The grade measures how much the issuer tells you and how recently. An issuer can disclose everything about a risky balance sheet and grade A. Our safety score is the risk view.
+ − How can an unregulated stablecoin score well?
Supervision is only 10 of the 100 points. A fully on-chain token with verifiable collateral and a clear composition can outscore a supervised issuer that publishes late.
+ − How often do the grades change?
Freshness is recomputed on every page load against the latest published attestation date, so a grade can drop simply because an issuer went quiet.