| Ripple | US-NY | Limited Purpose Trust Charter — Standard Custody & Trust Company, LLC (NYDFS regulated-entities list) | Authorized | open ↗ |
| Ripple | US-NY | Virtual Currency License — Ripple Markets DE LLC (f/k/a XRP II LLC) | Authorized | open ↗ |
| Ripple | US | National trust bank (Ripple National Trust Bank) — preliminary conditional approval only | Pending | open ↗ |
| Ripple | US | GENIUS Act payment-stablecoin regime | Not Yet Effective | open ↗ |
| Ripple | AE-DIFC | Recognised Crypto Token (RLUSD) | Authorized | open ↗ |
| Ripple | AE-ADGM | Accepted Fiat-Referenced Token (RLUSD on Ethereum & XRPL) | Authorized | open ↗ |
| Ripple | JP | RLUSD handled by SBI VC Trade (registered Electronic Payment Instruments Exchange Service Provider No. 00001) | Authorized | open ↗ |
| Ripple | HK | HKMA licensed stablecoin issuer | Not on HKMA register | open ↗ |
| Tether | SV | Digital Asset Service Provider / stablecoin issuer licence | Authorized | open ↗ |
| Tether | EU | MiCA EMT authorisation | Not authorised — USDT restricted for EEA retail on major CASPs | open ↗ |
| Tether | US | USA₮ issued separately by Anchorage Digital Bank N.A. (OCC) — not Tether | Not Applicable | open ↗ |
| Circle | US | National trust bank charter No. 25361 (Circle National Trust) | Authorized | open ↗ |
| Circle | US-NY | Limited-purpose trust company (Circle New York Trust) | Authorized | open ↗ |
| Circle | US-NY | Virtual Currency and Money Transmitter Licenses — Circle Internet Financial, LLC (NYDFS regulated-entities list) | Authorized | open ↗ |
| Circle | US | Money transmitter licences — 46 states + DC + PR; FinCEN MSB | Authorized | open ↗ |
| Circle | EU-FR | Electronic Money Institution No. 17788 — EMT issuer (USDC, EURC) under MiCA | Authorized | open ↗ |
| Circle | EU-FR | MiCA CASP authorisation No. E2026-005 | Authorized | open ↗ |
| Circle | SG | Major Payment Institution No. PS20200630 | Authorized | open ↗ |
| Circle | BM | Digital Asset Business licence No. 54786 | Authorized | open ↗ |
| Circle | UK | E-money institution No. 900480 | Authorized | open ↗ |
| Circle | AE-ADGM | Financial Services Permission No. 250035 | Authorized | open ↗ |
| Circle | AE-DIFC | USDC/EURC recognised stablecoins (first approved by DFSA, per Circle) | Authorized | open ↗ |
| Circle | JP | USDC handled by SBI VC Trade (No. 00001, 4 Mar 2025) and Coincheck (No. 00002, 27 Aug 2026) | Authorized | open ↗ |
| Circle | HK | HKMA licensed stablecoin issuer | Not on HKMA register | open ↗ |
| Circle | CA | Undertaking with Canadian Securities Administrators (VRCA) | Authorized | open ↗ |
| Paxos | US | National trust bank charter No. 25379 (converted from NYDFS trust 12 Dec 2025) | Authorized | open ↗ |
| Paxos | US | Registered clearing agency (Paxos Securities Settlement Co.) | Authorized | open ↗ |
| Paxos | SG | Major Payment Institution (DPT services) — USDG issuer | Authorized | open ↗ |
| Paxos | EU-FI | Electronic Money Institution No. 32368862 — USDG EMT issuer | Authorized | open ↗ |
| World Liberty Financial | US | National trust bank (BitGo Bank & Trust, N.A.) — current USD1 issuer | Authorized | open ↗ |
| World Liberty Financial | US | World Liberty Trust Company — preliminary conditional approval only | Pending | open ↗ |
| Ethena | EU-DE | No MiCA authorisation — BaFin ordered wind-down of Ethena GmbH USDe business | Confirmed Non-Compliance | open ↗ |
| First Digital | HK | Trust company (TCSP) — custodian entity | Authorized | open ↗ |
| First Digital | HK | HKMA licensed stablecoin issuer | Not authorised — not on HKMA register | open ↗ |
| Gemini | US-NY | Limited Purpose Trust Charter — Gemini Trust Company, LLC (NYDFS regulated-entities list) | Authorized | open ↗ |
| Gemini | EU-MT | MiCA CASP — Gemini Intergalactic EU Ltd (ESMA CASP register) | Authorized | open ↗ |
