While US Dollar-pegged stablecoins dominate the market, a growing number of digital assets track other major fiat currencies. These local stablecoins provide an efficient, low-cost way for global users to get on-chain and hold digital assets in their native denominations.
Selection Methodology
The stablecoins featured in this list were selected based on three primary criteria: regulatory transparency, multi-chain availability, and depth of integration within the decentralized finance (DeFi) ecosystem. We prioritize assets issued by regulated entities that provide regular attestations of their underlying reserves.
Comparison Table
| Stablecoin | Currency | Issuer | Primary Network(s) |
|---|---|---|---|
| EURC | Euro (EUR) | Circle | Ethereum, Solana, Base |
| XSGD | Singapore Dollar (SGD) | StraitsX | Polygon, Solana, Base |
| AUDD | Australian Dollar (AUD) | AUDD Digital | Stellar, XRPL, Ethereum |
| CADC | Canadian Dollar (CAD) | Paytrie | Base, Ethereum |
| ZCHF | Swiss Franc (CHF) | Frankencoin (DAO) | Ethereum, Gnosis |
| BRZ | Brazilian Real (BRL) | Transfero | Solana, Polygon, Base |
| TRYB | Turkish Lira (TRY) | BiLira | Ethereum, Solana, Avalanche |
EURC (Euro)
EURC is a euro-backed stablecoin issued by Circle, the same institution that manages USDC. It is designed to be fully compliant with the European Union’s Markets in Crypto-Assets (MiCA) regulation. Every EURC token is backed 100% by euro reserves held in regulated financial institutions.
Because it is available on high-speed networks like Solana and Base, EURC allows for near-instant euro-denominated payments with minimal transaction costs. It is frequently used by businesses to access 24/7 foreign exchange markets and by individuals as a stable store of value within the European Economic Area.
XSGD (Singapore Dollar)
XSGD is the leading Singapore Dollar stablecoin, issued by StraitsX under a Major Payment Institution license from the Monetary Authority of Singapore (MAS). It is a native token on several blockchains, including Ethereum, Solana, and Base, making it highly accessible for Southeast Asian users.
The asset enables a direct 1:1 on-ramp from Singaporean bank accounts into the digital economy. By removing the need for intermediary banks, XSGD facilitates low-cost international transfers and programmable payments, supporting Singapore’s position as a global fintech hub.
AUDD (Australian Dollar)
AUDD is an Australian Dollar stablecoin issued by AUDD Digital. It is designed to provide a digital representation of the AUD for use in high-speed settlement systems. It is supported on multiple blockchains, including the XRP Ledger and Stellar, which are optimized for cross-border payments.
Users can mint AUDD by funding their accounts with Australian dollars via the New Payments Platform (NPP). This allows for near-instant funding and provides Australian residents with a reliable way to hold their local currency value on-chain without exposure to cryptocurrency volatility.
CADC (Canadian Dollar)
CADC is a Canadian Dollar stablecoin issued by Paytrie, a Canadian cryptocurrency platform. It is primarily used as an on-ramp for Canadian residents entering the Base and Ethereum ecosystems. Each CADC token is collateralized 1:1 by Canadian dollars held in domestic banks.
The asset’s integration with the Base network is particularly significant, as it allows Canadians to participate in DeFi applications with transaction fees that are a fraction of traditional banking costs. It serves as a transparent and regulated gateway for the Canadian digital asset market.
ZCHF (Swiss Franc)
Frankencoin (ZCHF) is a decentralized stablecoin that tracks the Swiss franc. Unlike the other assets on this list, it is not issued by a central company but is instead managed by a decentralized protocol. It is backed by on-chain collateral, such as Ethereum and Wrapped Bitcoin.
ZCHF is over-collateralized, meaning the system holds more value in assets than the total amount of ZCHF issued. This decentralized approach appeals to users who prioritize transparency and permissionless access, though it introduces different risks compared to fiat-backed alternatives.
BRZ (Brazilian Real)
BRZ is the most widely used Brazilian Real stablecoin, issued by Transfero. It provides a liquid bridge between the Brazilian economy and global digital markets. BRZ is available on more than a dozen blockchains, ensuring it can be used across a wide range of platforms and protocols.
For Brazilian users, BRZ offers a way to hedge against local currency fluctuations while maintaining the ability to trade on international exchanges. Its widespread adoption in the Latin American crypto market has made it a key tool for cross-border remittances and retail payments.
TRYB (Turkish Lira)
BiLira (TRYB) is the leading Turkish Lira stablecoin, providing a digital on-ramp for one of the world’s most active crypto markets. Every TRYB token is backed 1:1 by Turkish Lira reserves held in domestic bank accounts, with transparency maintained through regular third-party audit reports.
TRYB is integrated across multiple blockchains, including Ethereum, Solana, and Avalanche, allowing Turkish users to access global decentralized finance (DeFi) protocols without the need for expensive foreign exchange intermediaries. It serves as a critical bridge between Turkey’s traditional banking system and the burgeoning digital asset economy.
Category-Level Tradeoffs
When choosing a non-USD stablecoin, users must weigh the benefits of regulatory oversight against the risks of centralization. Fiat-backed stablecoins issued by companies like Circle or StraitsX offer clear regulatory frameworks but require users to trust the issuer’s reserve management.
Conversely, decentralized stablecoins like ZCHF remove the need for a central intermediary but introduce risks associated with smart contract security and the volatility of the underlying collateral. Furthermore, the cost and speed of using these assets are heavily dependent on the specific blockchain network chosen for the transaction.
