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Reserve Watch: Stablecoin Attestation Tracker
A register of reserve attestations across major USD stablecoin issuers — attestor, cadence, latest report and the next one due, with live market caps.
Tracking 10 issuers
Caps live (DefiLlama)
Next-attestation calendar
Issuers tracked
10
major USD stablecoins
Monthly attestors
8
publish every month
Due soon
0
next report within 10 days
Overdue
0
past expected date
Reserve attestation register
Sorted by market cap · next-expected auto-computed from cadence| Stablecoin | Market cap | Attestor | Cadence | Latest | Next due | Status |
|---|---|---|---|---|---|---|
| USDT Tether · Tether Operations | $186.2B | BDO Italia | Quarterly | Mar 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Cash & equivalents, U.S. T-bills, repos, gold, BTC | ||||||
| USDC USD Coin · Circle | $74.9B | Deloitte | Monthly | May 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Cash & short-dated U.S. Treasuries (Circle Reserve Fund) | ||||||
| USDS Sky Dollar · Sky (ex-MakerDAO) | $8.2B | On-chain | On-chain | Jun 18, 2026 | — | Live |
| Reserves: On-chain crypto collateral + tokenized RWA | ||||||
| USDE Ethena USDe · Ethena Labs | $4.5B | Harris & Trotter | Monthly | May 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Crypto collateral + hedged derivatives (delta-neutral) | ||||||
| PYUSD PayPal USD · Paxos | $2.8B | WithumSmith+Brown | Monthly | May 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Cash, U.S. T-bills and repos | ||||||
| RLUSD Ripple USD · Ripple | $1.6B | BPM LLP | Monthly | May 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Cash & short-dated U.S. Treasuries | ||||||
| TUSD TrueUSD · Techteryx | $483.3M | The Network Firm | Monthly | May 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Cash & cash equivalents (real-time + monthly) | ||||||
| FDUSD First Digital USD · First Digital | $351.9M | Prescient Assurance | Monthly | May 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Cash & cash equivalents held in trust | ||||||
| GUSD Gemini Dollar · Gemini | $319.5M | BPM LLP | Monthly | May 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Cash & T-bills held at U.S. banks | ||||||
| USDP Pax Dollar · Paxos | $31.9M | WithumSmith+Brown | Monthly | May 31, 2026 | Jul 1, 2026 | Current |
| Reserves: Cash & U.S. T-bills | ||||||
Understanding the data · editorial
Why reserves matter
Stablecoin reserves determine whether a peg holds during stress. Learn what to look for.