Stablecoin Index
One supply-weighted quality rubric, applied to the entire measured stablecoin market and to each regulated region: how big each pool is, how good, and how much of the money clears the institutional-grade bar.
Total capital (USD equiv.)
$293.51B
33 constituents · whole market
Market quality
64.2
supply-weighted, 0–100
Institutional-grade
$78.99B
27% of market · score ≥ 70
US-regulated share
95%
$75.43B of institutional-grade capital
The index level
The supply-weighted quality of every measured stablecoin, on the 0–100 rating scale, recomputed daily. This is the index the rest of the page reads against — the jurisdictional cuts and the capital breakdown below are lenses on the same measurement.
OCB Index
Stablecoin Quality Index
Regional Stablecoin Indices
Each regulated region’s supply-weighted quality since it began publishing, on the same 0–100 scale. Hover a line to trace one region; each starts on its own first published day — no reconstruction before it existed.
Three measures, one rubric
The index reads a market in three parts: its size, the quality of that capital, and the same measure cut to each regulated regime. Size comes first — a quality score means one thing at $1 billion and another at $900 billion. Supply is measured directly onchain, so the quality score and the market total it is weighted against always come from the same source.
The measured size of the market, and whether it is growing.
The share of that capital that clears the institutional-grade bar.
The same rubric applied to each regulated regime, for direct comparison.
Quality against capital
Every point is scored on the same 0–100 rubric, so the regions are directly comparable. Read two things at once: how far right a point sits (its quality) and how large it is (its capital, by bubble size). The most important region on this chart is the bottom-left — large capital at a low score — not the top.
Capital in constituents that clear the bar across reserves, redemption, holders, and transparency — the regions whose weighted quality sits at or above 70.
A big bubble here is material capital in a weakly-regulated region — the exposure the market can’t see when it only counts dollars.
OCB Stablecoin Indices
Quality × capital, by jurisdiction
Institutional-grade capital
27% of stablecoin capital is institutional-grade, and 95% of that is US-regulated. Measured capital per cut, with the share sitting in constituents that score 70 or above. A low share is a coverage finding, not a failure — it reflects how early a region’s regulated-stablecoin market still is.
A constituent is institutional-grade when it scores 70 or above on the published rubric — reserve quality, redemption depth, holder concentration, and transparency, together. The figure above is the sum of capital sitting in those constituents, not a count of coins: it answers “how many dollars are actually held to that standard,” which is the question an allocator asks.
The jurisdictional cuts
Each regulated regime is its own index, governed by the licences that admit a coin to it — a US top-tier charter, a MiCA authorization. Open one for its constituent roster, each coin’s four dimension scores, and where its supply lives onchain.
Cut 02
LiveEuropean-Regulated
Quality
83.6
Methodology
Every cut is scored on the same four dimensions — reserve quality, redemption depth, holder concentration, transparency — so a US number and a European number mean the same thing. The methodology is public and versioned; a rubric change bumps the version and is logged, never applied silently.
Each day’s reading is recorded and never restated. The value of a quality index is the point-in-time history it builds — a series that can only be started once.
The rubric scores more than how much stablecoin capital exists and how sound it is. It also scores how that capital behaves onchain — concentration, redemption pressure, and increasingly whether the flows are machines or people — read directly from the chain.