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The Stablescape Map

6,117 companies are
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Stablescape is Verda Ventures' live index of the global stablecoin economy. Search it, see who is really building each part of the market, and find the number worth quoting.

6,117companies indexed
147countries
12categories
7regions
Live dataset · Updated October 2026 · Curated by Verda Ventures Methodology & coverage
What's on Stablescape
01

Find your company

Search all 6,128 companies on your device. If you're listed, see exactly where. If not, submit it for the Verda team to review.

 → 02

Ecosystem maps

Who builds each part of the market, drawn live from the index.

 → 03

The geography

Where the industry is building, by region and country.

 →
Today's signals
Today's signals
Ecosystem maps
Go deeper on geography
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stablescape.xyz The map of the stablecoin economy, by Verda Ventures.  
Companies
Key findings
Twelve signals from the data
Each card maps to an exact slice of the universe. Click any finding to drill into the underlying companies.

The EM thesis

01Total share

Emerging markets are a large share of global stablecoin infrastructure formation
1,627 of 6,117 tracked companies (27%) are based in an emerging market. Classification is country-level: IMF advanced economies (including Japan, Singapore, Hong Kong, South Korea, and Australia) do not count as EM.

The EM thesis

02Bifurcation

Where stablecoins meet local economies leans EM. Where growth-stage and AI live leans US.
On/Off Ramps is the most EM-skewed category at 67% (402 of 601 disclosed-region cos). Agentic Payments is the least at 11%. The bifurcation tracks where the technology touches the real world: on-ramps, wallets, remittances, and consumer use cases over-index in EM.

The breakout

03Fastest forming

Agentic Payments leads on formation, the category is in earliest expansion
950 companies, more than any other category. 171 cos carry 2025 founding dates and 378 carry 2026 so far (recent-year dates are partly proxy-estimated, directional only). 97% of venture-staged cos are Pre-seed or Seed. No other category is forming at this pace.

The breakout

04YoY leader

The fastest-forming category by founding-year growth is Agentic Payments in 2026
Agentic Payments added the most new formations of any category with a meaningful base in 2025 (51 cos carry 2024 founding dates, 171 carry 2025). 10 months into 2026, Agentic Payments still leads on new formations. Recent-year founding dates are partly proxy-estimated, so read formation rankings as directional, not as exact growth rates.

Maturity & exits

05Maturity

Most of the map is still early stage
Wallet Infrastructure leads on maturity with 22.3% of its venture-staged companies past Seed (71 of 318), followed by Stablecoin Infrastructure at 19.5%. 0 of the 12 categories have more than a quarter of companies past Seed. At the other end, just 3.1% of Agentic Payments cos are. Formation has dramatically outpaced graduation past Seed.

Maturity & exits

06Acquirers

MoonPay and Stripe are each consolidating the stablecoin payments stack via M&A
MoonPay and Stripe have taken 3 of 23 confirmed acquisitions each (MoonPay: Iron, Meso, Helio · Stripe: Bridge $1.1B, Privy, Valor Connect). Other acquirers in the wave: Fireblocks (2), Polygon (2), Amadeus Protocol, Anchorage, Checkout.com. The big-payments incumbents are buying their way into stablecoin infra rather than building.

Africa and MENA anchors

07Africa

Nigeria is 60% of Africa's stablecoin universe
280 of 466 tracked African companies operate in Nigeria. Kenya (45) and South Africa (43) trail distantly. Africa's stablecoin story is effectively a Nigerian one.

Africa and MENA anchors

08MENA

UAE is 68% of MENA's tracked stablecoin universe
203 of 297 tracked MENA companies operate in the UAE, the most concentrated regional story outside the US. Dubai's VARA framework and Gulf capital flows produce a cluster you don't see elsewhere.

APAC and LatAm anchors

09APAC

Singapore anchors APAC at 25% of the region
182 of 719 APAC companies operate in Singapore. Hong Kong (111), India (86), and Australia (78) form the tier-2 cluster. Singapore's MAS licensing regime is producing the region's only clear hub.

APAC and LatAm anchors

10LatAm

LatAm leads with On/Off Ramps
Of 498 LatAm companies tracked, 101 sit in On/Off Ramps, ahead of Cross-Border B2B Payments (74).

The shape of the universe

11Recent formation

36% of 2025-2026 stablecoin formation operates in North America
562 of 1,581 recently-founded companies with disclosed region are based in North America, far ahead of Europe (323) and combined emerging markets (582). The agentic-payments wave that's driving 2025-2026 formation is heavily concentrated in US tech hubs, even as the all-time EM share holds at 27%.

The shape of the universe

12Top 5 countries

Stablecoin infrastructure spans 147 countries but is concentrated in 5
40% of all tracked companies sit in just five countries: United States (1,448), United Kingdom (303), Nigeria (280), Canada (210), United Arab Emirates (203). Four of the five are the largest country in their region. Outside the top 5, no other country tops Switzerland's 183 companies.
Volume by category
Where the stablecoin universe concentrates
Each bar is total tracked companies in a category, segmented by primary operating region. 4,939 of 6,117 companies (81%) have a named region. The grey segments are Global/Distributed and Unspecified (no region on file yet). Click any segment or label to drill in.
Cross-Border B2B Payments
590
Agentic Payments
950
Stablecoin Issuance
262
Stablecoin Infrastructure
786
Merchant & Payment Processing
886
RWA Tokenization
653
Wallet Infrastructure
400
On/Off Ramps
638
Crypto Banking
359
Treasury / FX / Orchestration
244
Compliance / RegTech
185
Consumer Remittances
164
North AmericaEuropeLatAmAfricaMENAAPACGlobal/DistributedUnspecified (no region on file)
Category × region heatmap
The geography of each stack layer
Darker = denser. Cells computed across the 4,939 of 6,117 companies (81%) with a tagged region.
North AmericaEuropeLatAmAfricaMENAAPAC
Cross-Border B2B Payments 1909774922269
Agentic Payments 26385931858
Stablecoin Issuance 726722131741
Stablecoin Infrastructure 26717137163991
Merchant & Payment Processing 212186577740105
RWA Tokenization 20817568125489
Wallet Infrastructure 10610829112967
On/Off Ramps 791491011553978
Crypto Banking 969562361638
Treasury / FX / Orchestration 8460189731
Compliance / RegTech 5061751026
Consumer Remittances 52261437626
Maturity by category
What stage of company dominates each category
Stage distribution by last known funding round, computed across the 4,933 of 6,117 companies (81%) with a disclosed funding-round stage. The remaining 1,184 (bootstrapped, undisclosed-round, or stage-unknown) are not shown. Click a segment to see those companies. The ACQUIRED column lists confirmed acquisitions, which stay in the map and in every count. Hover each chip for acquirer / year / value, or click it to open the profile.
ACQUIRED
Cross-Border B2B Payments
67% 19%
BVNKReapBeamBridgeRail
Agentic Payments
88%
Bitte Protocol
Stablecoin Issuance
54% 30% 11%
Mountain ProtocolBlue EMI
Stablecoin Infrastructure
54% 27% 11%
Fern MoneyIron
Merchant & Payment Processing
80% 14%
Loop CryptoHelio
RWA Tokenization
60% 25%
Hashnote
Wallet Infrastructure
54% 23% 13%
Zodia CustodyBaanx Group LtdDynamicFORDEFIPrivySequenceValor Connect
On/Off Ramps
74% 17%
CoinmeMeso
Crypto Banking
62% 19% 12%
TRES Custody
Treasury / FX / Orchestration
68% 22%
Compliance / RegTech
60% 21%
Consumer Remittances
77% 11%
Category breakdown
What sub-sectors make up each category
Each category splits into more granular sub-sectors. Subcategory coverage: 99.9% (6,114 of 6,117 companies). Hover a category name for a one-line description. Click any sub-sector to drill into its companies.
Cross-Border B2B Payments
590 companies · 8 sub-categories
Stablecoin Cross-Border Rails 349 Cross-Border B2B 84 Payroll & Disbursements 48 Cross-Border Payments 42 Emerging Market Corridors 27 Liquidity & Settlement 26 B2C Cross-Border 13 Payment Gateway 1
Agentic Payments
950 companies · 6 sub-categories
Agent-Native Payment Rails 520 Agent Identity & Authorization 175 Agent Marketplaces / Discovery 118 AI-Native Fintech Tooling 68 Agentic Payments 53 Agent Credit & Underwriting 16
Stablecoin Issuance
262 companies · 5 sub-categories
Non-USD Currency Stablecoins 81 Algorithmic / Crypto-Backed Stablecoins 70 USD-Pegged Stablecoins 54 Yield-Bearing Stablecoins 34 Stablecoin Issuers 23
Stablecoin Infrastructure
786 companies · 14 sub-categories
Settlement Infrastructure 178 DeFi Protocols 159 Stablecoin Yield & Earn 111 Analytics & Orchestration 93 Issuance Platforms & Tooling 82 Liquidity & Collateral Markets 61 Banking-as-a-Service 49 Stablecoin-Native L1s 29 CBDC Infrastructure 18 Other 2 Lending / Credit 1 Stablecoin Payment Rails 1 On-Chain Analytics 1 Stablecoin Cross-Border Rails 1
Merchant & Payment Processing
886 companies · 5 sub-categories
Payment Gateway 295 Stablecoin Payment Rails 256 Merchant Acceptance / Commerce 140 Crypto Cards 102 Payment Processing 93
RWA Tokenization
653 companies · 9 sub-categories
Tokenization Platforms 373 Private Credit On-Chain 63 Real Estate (institutional) 54 Equity & Bond Tokenization 51 Commodities (institutional) 49 Tokenized Treasuries & Money Markets 43 Trade Finance 18 Crypto-Native Neobanks 1 Stablecoin Cross-Border Rails 1
Wallet Infrastructure
400 companies · 7 sub-categories
Self-Custody Wallets 136 Embedded Wallets / WaaS 92 Custody (institutional) 77 Wallet Infrastructure 36 Developer Tools 30 Account Abstraction & Smart Wallets 24 Hardware Wallets 5
On/Off Ramps
638 companies · 5 sub-categories
Fiat-Crypto Ramps 387 Off-Ramps (Crypto-to-Fiat) 95 On/Off Ramps 69 P2P Exchanges 55 Aggregator / Routing 32
Crypto Banking
359 companies · 5 sub-categories
Crypto-Native Neobanks 233 Stablecoin Bank Accounts 35 Digital Asset Banks 34 Crypto Banking 32 Crypto Prime Brokerage 25
Treasury / FX / Orchestration
244 companies · 4 sub-categories
Lending / Credit 107 Stablecoin FX / Orchestration 65 Crypto Treasury Management 40 Treasury / FX / Orchestration 32
Compliance / RegTech
185 companies · 4 sub-categories
AML / KYC 80 Compliance / RegTech 56 On-Chain Analytics 48 Other 1
Consumer Remittances
164 companies · 5 sub-categories
Stablecoin Remittance Apps 79 Remittance Services 43 Consumer Remittances 25 Corridor Specialists 15 White-Label Remittance Infrastructure 2
Formation waves
When was each category most active in formation
Distribution of founding years per category. For companies with a disclosed founding year, we use that. For the rest, we use the date the company was first ingested into our underlying source as a directional proxy for the founding time frame. Per an internal spot-check (n=100), this is 88% accurate within ±1 year for companies ingested 2024+. Darker = more companies founded that year. Peak year highlighted. Treat individual cells in 2024+ as directional rather than exact.
201820192020202120222023202420252026 PEAK
Cross-Border B2B Payments 20223142576471126732025
Agentic Payments 578122325511713782026
Stablecoin Issuance 717112030244138252024
Stablecoin Infrastructure 47253663666973142922025
Merchant & Payment Processing 353228565958671741702025
RWA Tokenization 38334161606360112792025
Wallet Infrastructure 2320165236333742502021
On/Off Ramps 352728406537431031002025
Crypto Banking 1916203031294358512025
Treasury / FX / Orchestration 11772321222743392025
Compliance / RegTech 10117211310819302026
Consumer Remittances 787818141633232025
Growth velocity
Which categories are growing the fastest year-over-year
Year-over-year growth in new-company formations per category. Sorted by 2024→2025 growth rate. Recent-year counts include init-date-proxy estimates per the Formation Waves card. Read the YoY % as directional, not exact, particularly for newer agent-economy categories. The 2026 column is year-to-date (through 2026-10-07). The '25→'26 YTD column compares partial 2026 to full 2025, so negative values may mean "on pace to land below 2025," not actual decline.
2022 2023 2024 2025 2026 YTD '23→'24 '24→'25 '25→'26 YTD
Agentic Payments 23 25 51 171 378 +104% +235% +121%
Merchant & Payment Processing 59 58 67 174 170 +16% +160% -2%
On/Off Ramps 65 37 43 103 100 +16% +140% -3%
Compliance / RegTech 13 10 8 19 30 -20% +138% +58%
Consumer Remittances 18 14 16 33 23 +14% +106% -30%
Stablecoin Infrastructure 66 69 73 142 92 +6% +95% -35%
RWA Tokenization 60 63 60 112 79 -5% +87% -29%
Cross-Border B2B Payments 57 64 71 126 73 +11% +77% -42%
Treasury / FX / Orchestration 21 22 27 43 39 +23% +59% -9%
Crypto Banking 31 29 43 58 51 +48% +35% -12%
Wallet Infrastructure 36 33 37 42 50 +12% +14% +19%
Stablecoin Issuance 30 24 41 38 25 +71% -7% -34%
Growth by geography
Where formation is accelerating fastest within each region
Top 3 categories per region by founding-rate growth, comparing two-year windows: 2020–21 baseline against 2024–25 recent. Two-year windows smooth annual noise. Buckets with fewer than 5 companies founded in 2024–25 are excluded as small samples. "new" means no companies founded in the baseline window (a brand-new category in that geography). The top sub-category within each row is shown when at least 2 companies have founding dates in the recent window.
North America
↑ Agentic Payments
13 → 93 +615%
Top sub: Agent-Native Payment Rails 7→58 +729%
↑ Treasury / FX / Orchestration
5 → 27 +440%
Top sub: Lending / Credit 2→12 +500%
↑ Stablecoin Infrastructure
30 → 81 +170%
Top sub: Settlement Infrastructure 6→27 +350%
Europe
↑ Agentic Payments
5 → 28 +460%
Top sub: Agent-Native Payment Rails 3→20 +567%
↑ Consumer Remittances
2 → 7 +250%
Top sub: Stablecoin Remittance Apps 1→5 +400%
↑ Crypto Banking
9 → 23 +156%
Top sub: Crypto-Native Neobanks 7→19 +171%
LatAm
↑ Treasury / FX / Orchestration
0 → 6 new
Top sub: Lending / Credit 0→3 new
↑ On/Off Ramps
6 → 26 +333%
Top sub: Fiat-Crypto Ramps 4→21 +425%
↑ Merchant & Payment Processing
5 → 20 +300%
Top sub: Stablecoin Payment Rails 2→8 +300%
Africa
↑ Crypto Banking
2 → 12 +500%
Top sub: Crypto-Native Neobanks 2→11 +450%
↑ Consumer Remittances
2 → 10 +400%
Top sub: Stablecoin Remittance Apps 0→8 new
↑ On/Off Ramps
12 → 49 +308%
Top sub: Fiat-Crypto Ramps 5→25 +400%
MENA
↑ Agentic Payments
0 → 9 new
Top sub: Agent-Native Payment Rails 0→6 new
↑ Stablecoin Infrastructure
3 → 13 +333%
Top sub: Settlement Infrastructure 0→4 new
↑ RWA Tokenization
7 → 20 +186%
Top sub: Tokenization Platforms 5→12 +140%
APAC
↑ Agentic Payments
2 → 16 +700%
Top sub: Agent-Native Payment Rails 1→7 +600%
↑ Consumer Remittances
1 → 6 +500%
Top sub: Stablecoin Remittance Apps 0→6 new
↑ Stablecoin Issuance
4 → 15 +275%
Top sub: Non-USD Currency Stablecoins 1→7 +600%
Geographic granularity
Which countries anchor each region
Top countries within each region by company count, computed across the 4,925 of 6,117 companies (81%) with disclosed country. Click a country to see the underlying list. The US dominates North America, but LatAm and Africa each have clear anchor markets. Geography reflects entity registration or headquarters, not target market. A Delaware C-Corp may primarily serve LatAm. A Cayman or BVI entity may operate globally.
North America 1,679
United States
1,448
Canada
210
Bermuda
2
British Virgin Islands
1
Cayman Islands
1
Europe 1,280
United Kingdom
303
Switzerland
183
Germany
80
France
70
Poland
57
LatAm 498
Brazil
151
Argentina
58
Mexico
51
Panama
39
Colombia
38
Africa 466
Nigeria
280
Kenya
45
South Africa
43
Ghana
18
Benin
6
MENA 297
United Arab Emirates
203
Turkey
33
Israel
23
Bahrain
7
Iran
6
APAC 719
Singapore
182
Hong Kong
111
India
86
Australia
78
Japan
42
6,117 companies tracked Region 83% · 5,049 disclosed Country 81% · 4,925 disclosed Founding year 86% · 5,280 disclosed Stage 81% · 4,933 disclosed Coverage notes ↓
6,117
Companies tracked across 12 categories, 7 regions, and 147 countries.
Methodology · coverage · caveats

How to read this

What this is. The 6,117 companies on this map are Verda Ventures' curated view of the global stablecoin and crypto-fintech infrastructure ecosystem. We believe it represents a strong directional sample of the universe, but coverage is not 100% exhaustive. New companies are added weekly as we identify them. If you operate a relevant company we don't have listed, add it through the Submit a company form on this site.

Field coverage. Of 6,117 companies tracked: 4,925 (81%) have a disclosed country, 5,280 (86%) have a founding year either verified through public sources or directionally indicated by the company's inception year in our dataset, and 4,933 (81%) have a disclosed funding-round stage (bootstrapped and undisclosed-round companies are not counted here, matching the maturity chart). Charts render only the disclosed subset for each dimension. Companies without disclosed values are excluded from the relevant view rather than shown in an "unknown" bucket. Founding-year and stage data depend on third-party enrichment, sparser for stealth and very-early-stage companies. Treat both as directional, particularly in Agentic Payments and other newer categories.

Submit a company or correction. Use the Submit a company form, or the Suggest a correction button on any record. A person reviews every submission before the dataset changes.

Claim your profile. If your company is on the map, open its record and use Claim this profile. Claims are verified through your company email domain or Google sign-in, and corrections from claimed profiles are reviewed first. Claimed companies can list up to four secondary categories, shown on the profile and matched in database filters as self-reported, and never counted in statistics.

Methodology. Categorization combines third-party enrichment, automated classification against a public corpus, and manual review. Founding year is the company's disclosed year where available, otherwise a directional proxy from the date the company was first ingested into our underlying data source. Treat newer categories (Agentic Payments, RWA tokenization) as directional rather than exact.

Disclosure. This dashboard is for informational purposes only. It is not investment advice, an offer to sell or a solicitation of an offer to buy any security, and does not represent the views of any company mentioned. Verda Ventures may hold positions in or have evaluated companies on this page.