Sector hub · Issuers, reserves & settlement BTC · ETH · SOL 11,787 entities mapped · 25,338 relations
Reader-funded
No sponsored research
Sources on every record
The Counterparty
The record of who owes what, to whom.
92 records in this sector
944 typed relations
1,156 wire mentions
■ Issuers, reserves & settlementSector hub

Stablecoin counterparties

Stablecoin issuers are the closest thing crypto has to a banking layer: they hold reserves, issue the settlement asset most venues quote against, and their balance sheets are the counterparty risk the whole market quietly carries. This hub indexes the issuers, reserve custodians and on-chain settlement rails on record, with their typed relations and wire coverage linked from each entry.

Fig. 1 — The sector on record Computed from the entity graph · 2026.08.30
Counterparties indexed92
Typed relations (total degree)944
Wire mentions1,156
With a desk overview92
Bitcoin7Solana9Tether USD164EURC16Ethena38USDT0 (Omnichain USDT)2TRX1Paxos40
Source: entity graph, wire feed, relations ledger — linked on every row. Bars are the 8 most-connected counterparties, by typed relations.
■ The counterpartiesBy wire mentions, then relations
■ In the wireLatest coverage naming this sector
■ Related sectorsAdjacent exposure
© 2026 The Counterparty · Independent · Reader-funded Sector hub · Stablecoin counterparties · 11,787 entities on record
About · Standards & corrections · Privacy · Terms · RSS