Circle competitors

Issues First Digital USD (FDUSD), a regulated USD-backed stablecoin with ~$400M market cap, primarily used in Asian markets and listed on Binance.

Decentralized protocol behind the USDS and DAI stablecoins, governed by the SKY token; formerly MakerDAO.

Issues USDT, the world's largest stablecoin by market cap ($120B+), and has expanded into payments, energy, and communications infrastructure.