{"license":"CC-BY-4.0","licenseUrl":"https://creativecommons.org/licenses/by/4.0/","attribution":"ChainChoice (https://chainchoice.io)","category":"stablecoin_issuance","evidenceReadAt":"2026-09-30","generatedAt":"2026-11-12","criteria":[{"id":"issuer_of_record_charter","label":"Whose Charter the Coin Is Issued Under","weight":35},{"id":"reserve_yield_split","label":"What Share of the Reserve Yield the Brand Keeps","weight":25},{"id":"mint_authority_and_exit","label":"Who Holds the Mint Key, and What the Brand Keeps If It Leaves","weight":22},{"id":"issuer_price_published","label":"Published Platform Price to the Issuer","weight":18}],"providers":{"brale":{"issuer_of_record_charter":{"s":8,"q":"Coinflow USD (cfUSD) is issued by Brale in partnership with Coinflow.","u":"https://brale.xyz/stablecoins/cfUSD","d":"2026-09-30"},"reserve_yield_split":{"s":6,"q":"90/10 program rewards | Upgrade to Pro when program rewards matter. Pro includes 90/10 program rewards, so you keep the majority of the economics generated by reserves backing your stablecoin program.","u":"https://brale.xyz/pricing","d":"2026-09-30"},"mint_authority_and_exit":{"s":6,"q":"You acknowledge and agree that Brale owns all rights in and to any Smart Contracts deployed pursuant to this Agreement and their associated Private Keys | shall retain all Private Keys and shall not share the same with you | you may continue to use Digital Assets in their existing state upon…","u":"https://brale.xyz/legal/business-user-agreement","d":"2026-09-30"},"issuer_price_published":{"s":9,"q":"$0 /month | $10 /month | $500 /month | $2 per RTP | $20 per Wire | 25¢ per ACH | Gas Fee + 20% per transfer | Brale charges 0 bps on standard money movement. The one exception is USDT conversions, charged at 5 bps (0.05%) per transaction.","u":"https://brale.xyz/pricing","d":"2026-09-30"}},"bridge_open_issuance":{"issuer_of_record_charter":{"s":4,"q":"The stablecoin is issued by our partner, Bridge. Bridge mints, burns and holds the stablecoin reserves. | We work with Bridge to issue the stablecoin, who is the regulated issuer of record. They are a registered Money Service Business (MSB) with US Money Transmitter Licenses (MTLs).","u":"https://apidocs.bridge.xyz/platform/issuance/faq","d":"2026-09-30"},"reserve_yield_split":{"s":6,"q":"Approximately EFFR - 20 bps | EFFR - 200 bps | Reward rates are subject to change as a result of overall macroeconomic conditions. | After these choices are made, Bridge will allocate the remaining percentage of reserves to treasuries.","u":"https://apidocs.bridge.xyz/platform/issuance/reserve-management","d":"2026-09-30"},"mint_authority_and_exit":{"s":4,"q":"As issuer, Bridge handles all minting and burning for you","u":"https://apidocs.bridge.xyz/platform/issuance/minting-and-burning","d":"2026-09-30"},"issuer_price_published":{"s":5,"q":"Please reach out to sales@bridge.xyz to discuss pricing.","u":"https://apidocs.bridge.xyz/platform/additional-information/pricing","d":"2026-09-30"}},"paxos":{"issuer_of_record_charter":{"s":8,"q":"Your brand on the token, our name on the obligations. We issue and manage the asset as a regulated trust, hold reserves in segregated accounts, and handle attestation and redemption. PYUSD runs this way today. | Paxos Trust Company, N.A., a U.S. national trust bank regulated by the OCC.","u":"https://www.paxos.com/stablecoin-issuance","d":"2026-09-30"},"reserve_yield_split":{"s":5,"q":"Rewards rate applied to the balance daily. Rates are set at the partner level. | maps to the applicable earnings rate agreed upon at the contractual level | The applicable rate is multiplied by the captured balance.","u":"https://docs.paxos.com/guides/dashboard/rewards-engine/overview","d":"2026-09-30"},"mint_authority_and_exit":{"s":4,"q":"Supply Control Contract Addresses | 0x31d9bDEa6F104606C954f8FE6ba614F1BD347Ec3","u":"https://docs.paxos.com/guides/stablecoin/pyusd/mainnet","d":"2026-09-30"},"issuer_price_published":{"s":4,"q":"Talk to an Expert | Whether you’re in early conversations or active RFP, we can help you explore the best regulatory model to support your business.","u":"https://www.paxos.com/stablecoin-issuance","d":"2026-09-30"}},"anchorage_stablecoin_issuance":{"issuer_of_record_charter":{"s":9,"q":"ADB remains the sole issuer of, and the sole obligor for, every Series of Covered Stablecoins within the meaning of the GENIUS Act | Certain Service Providers license or otherwise permit ADB to use a brand name, trademark, or other intellectual property in connection with a Series","u":"https://www.anchorage.com/anchorage-digital-bank-n-a-covered-stablecoin-terms","d":"2026-09-30"},"reserve_yield_split":{"s":5,"q":"constitute fiduciary compensation to ADB for administering the Covered Stablecoin Reserve Trust | In the event of a conflict between these Terms and the Master Account Agreement, the Master Account Agreement prevails","u":"https://www.anchorage.com/anchorage-digital-bank-n-a-covered-stablecoin-terms","d":"2026-09-30"},"mint_authority_and_exit":{"s":4,"q":"ADB issues Covered Stablecoins exclusively to Clients. | ADB may freeze, block, seize, or otherwise restrict Covered Stablecoins where required by court orders, subpoenas, regulatory directives, or law enforcement requests | ADB does not guarantee the security or functionality of any smart contract","u":"https://www.anchorage.com/anchorage-digital-bank-n-a-covered-stablecoin-terms","d":"2026-09-30"},"issuer_price_published":{"s":6,"q":"No Covered Stablecoin Service Fees are charged in connection with USDtb. | No Covered Stablecoin Service Fees are charged in connection with USDPT. | No Covered Stablecoin Service Fees are charged in connection with USDGO.","u":"https://www.anchorage.com/anchorage-digital-bank-n-a-covered-stablecoin-service-fee-schedule","d":"2026-09-30"}},"bitgo_stablecoin_saas":{"issuer_of_record_charter":{"s":8,"q":"Issuer: BitGo Bank & Trust, N.A. | Issuer: SoFi Bank, N.A.","u":"https://www.bitgo.com/legal/bitgo-additional-terms","d":"2026-09-30"},"reserve_yield_split":{"s":7,"q":"We earn interest on stablecoin reserve assets and recognize that revenue on a gross basis. We recognize stablecoin sponsor fees, which largely offset the interest revenue.","u":"https://www.sec.gov/Archives/edgar/data/1740604/000174060426000050/btgo-20260630.htm","d":"2026-09-30"},"mint_authority_and_exit":{"s":3,"q":"Client acknowledges and agrees that the Smart Contracts governing the Coins may have been developed and may be managed by a third-party not under the control of BitGo. | BitGo reserves the right to stop offering Minting & Redemption Services, at any time, in its sole discretion","u":"https://www.bitgo.com/legal/bitgo-coin-minting-services-terms","d":"2026-09-30"},"issuer_price_published":{"s":6,"q":"Applicable transaction fees can be accessed through the Additional Terms and will be displayed in the Platform when submitting a mint or redemption request","u":"https://www.bitgo.com/legal/bitgo-coin-minting-services-terms","d":"2026-09-30"}},"coinbase_custom_stablecoins":{"issuer_of_record_charter":{"s":3,"q":"Each token is backed 1:1 by USDC on Coinbase, fully interoperable with USDC","u":"https://docs.cdp.coinbase.com/custom-stablecoins/overview.md","d":"2026-09-30"},"reserve_yield_split":{"s":5,"q":"Rewards are calculated from reserves backing eligible circulating supply of your custom stablecoin. Coinbase tracks reserve balances associated with tokens in circulation, accrues rewards daily, and pays them out weekly. | For the current rate, see Coinbase USDC Rewards","u":"https://docs.cdp.coinbase.com/custom-stablecoins/core-concepts","d":"2026-09-30"},"mint_authority_and_exit":{"s":5,"q":"Coinbase manages mint and burn as part of the Custom Stablecoin operating model.","u":"https://docs.cdp.coinbase.com/custom-stablecoins/core-concepts","d":"2026-09-30"},"issuer_price_published":{"s":3,"q":"Custom Stablecoin access is provided to partners during onboarding. If you're interested in launching a custom stablecoin,","u":"https://docs.cdp.coinbase.com/custom-stablecoins/overview.md","d":"2026-09-30"}}}}