Amid the boom in stablecoin investments, which stablecoins are worth keeping an eye on?

As we enter the second quarter of 2026, the overall sentiment in the cryptocurrency market remains relatively subdued. At the start of this week, Bitcoin finally rebounded, recouping the losses incurred following the breakdown of US-Iran negotiations, whilst a handful of meme coins began to surge against the market trend; however, the sustainability of the market’s overall momentum and the strength of its narratives remain to be seen.

In this market environment, an increasing number of investors are turning to stablecoin investments. According to our observations, whilst USDT and USDC still firmly dominate the stablecoin market share, a wave of regulatory compliance is driving the rapid rise of a new generation of USD-pegged stablecoins. The total market capitalisation of stablecoins has now reached $318.9 billion, representing a 3.47% increase year-to-date.

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It is fair to say that we are currently in a stablecoin bull market—the number and market capitalisation of USD-pegged stablecoins are on the rise, whilst highly competitive yields are attracting sustained participation from both institutional and retail investors.

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Below are several of the most popular stablecoins currently on the market that are well worth keeping an eye on.

World Liberty Financial USD (USD1)

USD1 is a US dollar-pegged stablecoin launched by World Liberty Financial in April 2025; the project was co-founded by the family of former US President Trump. USD1 operates on a 100% fully-reserved model, with reserve assets comprising US dollar cash, US government money market funds and other cash equivalents, all of which are custodied and issued by BitGo Trust Company.

Key features:

• Zero-fee minting and redemption: Unlike most stablecoins, USD1 offers completely free minting and redemption services.
• Multi-chain deployment: Supports major blockchains such as Ethereum, BNB Chain, Solana and Tron.
• Guaranteed transparency: Utilises Chainlink’s Proof of Reserves (PoR) mechanism to provide real-time on-chain reserve verification.
• Institutional-grade custody: Managed by the regulated BitGo Trust Company, compliant with US regulatory standards.

It is worth noting that the USD1 project has recently been embroiled in controversy. According to public data, World Liberty Financial recently borrowed nearly 190 million USD1 by staking WLFI on the Dolomite protocol, triggering severe liquidity strain for USD1. However, following the repayment of 25 million USD1 last Saturday, market tensions have finally begun to ease.

As of the date of writing, WLFI has fallen by 20% over the week, whilst USD1 currently has a market capitalisation of approximately $4.14 billion. The token price remains pegged at around 1:1 and has not been affected by the aforementioned circular lending incident.

Click to trade USD1/USDT

USDS (USDS)

USDS is an upgraded stablecoin within the Sky ecosystem, evolved from MakerDAO’s (now renamed Sky) DAI in September 2024. As a long-standing stablecoin in the DeFi space, USDS inherits DAI’s decentralised characteristics whilst introducing additional innovative features.

Key Features:

• Optional Upgrade: Users can upgrade DAI to USDS at a 1:1 ratio, or revert back to DAI at any time.
• SKY Token Rewards: USDS holders are eligible for token rewards built into the Sky protocol.
• DeFi Compatibility: USDS boasts excellent liquidity and high base yields across major DeFi lending protocols, such as Aave and Morpho.
• Decentralised Governance: Managed through the Sky DAO community.

The standout feature of USDS is its ‘stablecoin + native yield’ model, with a current market capitalisation of approximately $11.5 billion.

Click to trade USDS/USDT

USDD (USDD)

Launched by TRON DAO Reserve in May 2022, USDD is the core stablecoin of the TRON ecosystem. This stablecoin operates on an over-collateralised model and is backed by a variety of cryptocurrencies, including Bitcoin, Ethereum and TRX.

Key Features:

• Decentralised community governance: Oversighted by the decentralised stakeholder community of TRON DAO Reserve.
• Over-collateralisation: The value of reserve assets exceeds the total amount of USDD in circulation; the current collateralisation ratio is approximately 170%.
• Multi-chain support: Deployed on TRON, Ethereum and BNB Chain.
• Smart contract issuance: Issued and redeemed via smart contracts on TRON.

USDD currently has a market capitalisation of approximately $1.52 billion. Thanks to its decentralised nature and TRON’s high-performance network, USDD is widely used in scenarios such as payments, trading and staking, offering holders highly competitive returns.

Click to trade USDD/USDT

Ripple USD (RLUSD)

RLUSD is issued by Standard Custody & Trust Company, LLC, a wholly-owned subsidiary of Ripple, and is specifically designed for enterprise-grade payments and cross-border settlements. It is deployed on the XRP Ledger and is also compatible with the Ethereum ecosystem.

Key features:

• Designed for cross-border payments: leveraging the efficiency advantages of blockchain technology.
• Fully backed by US dollars: each RLUSD is supported by at least an equivalent value in US dollars and cash equivalents.
• Compliance advantages: Ripple possesses a global portfolio of licences and over a decade of experience in compliant operations.
• Wide accessibility: Services available to financial institutions, enterprises and developers.

Leveraging Ripple’s deep expertise in cross-border payments and extensive network of financial institution partnerships, RLUSD surpassed a market capitalisation of US$1.4 billion within less than six months of its launch, demonstrating strong growth potential.

United Stables (U)

U is a US dollar-pegged stablecoin issued by United Stables Limited (British Virgin Islands). The reserve assets for $U are held in a dedicated trust arrangement operated by the registered trustee, Wallets Trust Limited, ensuring that the reserve assets are completely legally segregated from the issuer’s corporate assets and are bankruptcy-isolated.

Key features:

• 1:1 Collateralisation: Every U is backed 1:1 by fiat US dollars and high-quality stablecoins, held in segregated, auditable custody.
• Acceptable Reserves: U accepts fiat currencies and trusted stablecoins as reserves.
• Partner and User Empowerment: Empowers exchanges, market makers, over-the-counter platforms, wealth management institutions and payment networks through unified liquidity, whilst sharing ecosystem rewards with partners and users.
• AI-enabled and programmable: Enables autonomous, intelligent trading.
• Enhanced corporate privacy: Supports confidential balance functionality — safeguarding financial privacy whilst ensuring on-chain transactions remain auditable.

U currently has a market capitalisation of US$1 billion.

Conclusion: The Stablecoin Bull Market is Underway

As a crucial anchor of value in the crypto market and a key bridge to the real world, stablecoins are seeing their safe-haven and wealth management attributes further amplified amidst a lack of narrative momentum and market volatility.

Coupled with the orderly progress of the GENIUS Act and the Clarify Act, numerous signs indicate that the stablecoin boom has only just begun.

It is foreseeable that, driven by the parallel advancement of compliance and innovation, the stablecoin sector will continue to grow, and stablecoin wealth management is becoming an increasingly important investment method within the crypto market.

We will continue to rigorously select and list new stablecoins that meet compliance requirements and possess sufficient liquidity, promptly adding them to our wealth management section. We also advise investors to diversify their holdings across different types of stablecoins according to their own risk preferences, whilst keeping a close eye on reserve transparency and potential returns.

Further reading:

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