# Stablecoin Licensing Register Checks | StableRadar

> Stablecoin issuer licences verified against regulator public registers.

Canonical: https://stableradar.com/regulation/licensing
Generated: 2026-10-26T08:33:30.127Z (live figures are a snapshot at build time; see the canonical page for current values)

# Licensing Register REFERENCE · regulator registers · as of 2026-10-26
| Issuer | Jurisdiction | Regime | Status | Register |
| --- | --- | --- | --- | --- |
| **Ripple** | US-NY | Limited Purpose Trust Charter — Standard Custody & Trust Company, LLC (NYDFS regulated-entities list) | Authorized | [open ↗](https://www.dfs.ny.gov/virtual_currency_businesses) |
| **Ripple** | US-NY | Virtual Currency License — Ripple Markets DE LLC (f/k/a XRP II LLC) | Authorized | [open ↗](https://www.dfs.ny.gov/virtual_currency_businesses) |
| **Ripple** | US | National trust bank (Ripple National Trust Bank) — preliminary conditional approval only | Pending | [open ↗](https://www.occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/ca1359.pdf) |
| **Ripple** | US | GENIUS Act payment-stablecoin regime | Not Yet Effective | [open ↗](https://www.congress.gov/bill/119th-congress/senate-bill/1582) |
| **Ripple** | AE-DIFC | Recognised Crypto Token (RLUSD) | Authorized | [open ↗](https://ripple.com/ripple-press/rlusd-stablecoin-dfsa-approval/) |
| **Ripple** | AE-ADGM | Accepted Fiat-Referenced Token (RLUSD on Ethereum & XRPL) | Authorized | [open ↗](https://ripple.com/ripple-press/rlusd-recognized-as-accepted-fiat-referenced-token-for-use-within-abu-dhabis-adgm/) |
| **Ripple** | JP | RLUSD handled by SBI VC Trade (registered Electronic Payment Instruments Exchange Service Provider No. 00001) | Authorized | [open ↗](https://www.fsa.go.jp/en/regulated/licensed/denshikessaisyudan.pdf) |
| **Ripple** | HK | HKMA licensed stablecoin issuer | Not on HKMA register | [open ↗](https://www.hkma.gov.hk/eng/regulatory-resources/registers/register-of-licensed-stablecoin-issuers/) |
| **Tether** | SV | Digital Asset Service Provider / stablecoin issuer licence | Authorized | [open ↗](https://cnad.gob.sv/) |
| **Tether** | EU | MiCA EMT authorisation | Not authorised — USDT restricted for EEA retail on major CASPs | [open ↗](https://www.esma.europa.eu/esmas-activities/digital-finance-and-innovation/markets-crypto-assets-regulation-mica) |
| **Tether** | US | USA₮ issued separately by Anchorage Digital Bank N.A. (OCC) — not Tether | Not Applicable | [open ↗](https://www.anchorage.com/press-room/anchorage-digital-tether-introduce-usat) |
| **Circle** | US | National trust bank charter No. 25361 (Circle National Trust) | Authorized | [open ↗](https://www.circle.com/legal/licenses) |
| **Circle** | US-NY | Limited-purpose trust company (Circle New York Trust) | Authorized | [open ↗](https://www.circle.com/legal/licenses) |
| **Circle** | US-NY | Virtual Currency and Money Transmitter Licenses — Circle Internet Financial, LLC (NYDFS regulated-entities list) | Authorized | [open ↗](https://www.dfs.ny.gov/virtual_currency_businesses) |
| **Circle** | US | Money transmitter licences — 46 states + DC + PR; FinCEN MSB | Authorized | [open ↗](https://www.circle.com/about-circle) |
| **Circle** | EU-FR | Electronic Money Institution No. 17788 — EMT issuer (USDC, EURC) under MiCA | Authorized | [open ↗](https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv) |
| **Circle** | EU-FR | MiCA CASP authorisation No. E2026-005 | Authorized | [open ↗](https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv) |
| **Circle** | SG | Major Payment Institution No. PS20200630 | Authorized | [open ↗](https://www.circle.com/legal/licenses) |
| **Circle** | BM | Digital Asset Business licence No. 54786 | Authorized | [open ↗](https://www.circle.com/legal/licenses) |
| **Circle** | UK | E-money institution No. 900480 | Authorized | [open ↗](https://www.circle.com/legal/licenses) |
| **Circle** | AE-ADGM | Financial Services Permission No. 250035 | Authorized | [open ↗](https://www.circle.com/legal/licenses) |
| **Circle** | AE-DIFC | USDC/EURC recognised stablecoins (first approved by DFSA, per Circle) | Authorized | [open ↗](https://www.circle.com/about-circle) |
| **Circle** | JP | USDC handled by SBI VC Trade (No. 00001, 4 Mar 2025) and Coincheck (No. 00002, 27 Aug 2026) | Authorized | [open ↗](https://www.fsa.go.jp/en/regulated/licensed/denshikessaisyudan.pdf) |
| **Circle** | HK | HKMA licensed stablecoin issuer | Not on HKMA register | [open ↗](https://www.hkma.gov.hk/eng/regulatory-resources/registers/register-of-licensed-stablecoin-issuers/) |
| **Circle** | CA | Undertaking with Canadian Securities Administrators (VRCA) | Authorized | [open ↗](https://www.circle.com/pressroom/circle-receives-conditional-approval-from-occ-for-national-trust-charter) |
| **Paxos** | US | National trust bank charter No. 25379 (converted from NYDFS trust 12 Dec 2025) | Authorized | [open ↗](https://www.paxos.com/terms-and-conditions/licenses) |
| **Paxos** | US | Registered clearing agency (Paxos Securities Settlement Co.) | Authorized | [open ↗](https://www.paxos.com/terms-and-conditions/licenses) |
| **Paxos** | SG | Major Payment Institution (DPT services) — USDG issuer | Authorized | [open ↗](https://www.paxos.com/terms-and-conditions/licenses) |
| **Paxos** | EU-FI | Electronic Money Institution No. 32368862 — USDG EMT issuer | Authorized | [open ↗](https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv) |
| **World Liberty Financial** | US | National trust bank (BitGo Bank & Trust, N.A.) — current USD1 issuer | Authorized | [open ↗](https://www.bitgo.com/company/licenses/) |
| **World Liberty Financial** | US | World Liberty Trust Company — preliminary conditional approval only | Pending | [open ↗](https://www.occ.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1385.pdf) |
| **Ethena** | EU-DE | No MiCA authorisation — BaFin ordered wind-down of Ethena GmbH USDe business | Confirmed Non-Compliance | [open ↗](https://www.bafin.de/SharedDocs/Veroeffentlichungen/EN/Verbrauchermitteilung/weitere/2025/meldung_2025_04_15_Ethena_GmbH_en.html) |
| **First Digital** | HK | Trust company (TCSP) — custodian entity | Authorized | [open ↗](https://www.firstdigitallabs.com/transparency) |
| **First Digital** | HK | HKMA licensed stablecoin issuer | Not authorised — not on HKMA register | [open ↗](https://www.hkma.gov.hk/eng/regulatory-resources/registers/register-of-licensed-stablecoin-issuers/) |
| **Gemini** | US-NY | Limited Purpose Trust Charter — Gemini Trust Company, LLC (NYDFS regulated-entities list) | Authorized | [open ↗](https://www.dfs.ny.gov/virtual_currency_businesses) |
| **Gemini** | EU-MT | MiCA CASP — Gemini Intergalactic EU Ltd (ESMA CASP register) | Authorized | [open ↗](https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv) |

Last updated: 2026-10-26 · Sources: Official government / regulator publications (linked per entry)