Side-by-side institutional comparison — canonical compliance grade, methodology verdict, and IC-memo-ready exports per asset.
| Metric | USDC USD Coin | APXUSD apxUSD Proxy score | USDE Ethena USDe | USDTB USDtb Proxy score |
|---|---|---|---|---|
| Market Cap | $76.40B | $518.9M | $4.45B | $1.09B |
| Peg Status | STABLE | STABLE | STABLE | STABLE |
| Peg Deviation | 0.038% | 0.031% | 0.109% | 0.113% |
| Issuer | Circle | Unknown | Ethena Labs | Ethena Labs |
| Issuer Type | Centralized | — | Algorithmic Protocol | Algorithmic Protocol |
| Jurisdiction | US regulated | Unknown | Foreign regulated | Unknown |
| Reserve Transparency | Audited Reports | None/Opaque | On-Chain | On-Chain |
| Redemption Rights | 1:1 par · ≤2 Business Days | — | 1:1 par · 3-5 Business Days | — |
| Governance | Issuer Controlled | — | DAO Governance | DAO Governance |
| Compliance Score | A92/100 | C40/100 | C45/100 | B70/100 |
| Yield Eligibility | Eligible | Not eligible | Not eligible | Not eligible |
| Last Updated | Today | Today | Today | Today |
| Decision Summary | ApprovedMethodology classification — not investment advice.Confidence:high | WatchMethodology classification — not investment advice.Confidence:low | WatchMethodology classification — not investment advice.Confidence:high | WatchMethodology classification — not investment advice.Confidence:low |
Verdicts are StableLens methodology classifications — Approved / Watch / Avoid / Insufficient — not investment advice. Compliance score is the canonical 6-dimension regulatory rubric (when a profile exists) or capped fallback (when not). See methodology.