Networks & Protocols
41 organizations. Blockchains and layer 2s, distributed ledger platforms, instant payment systems and clearing rails, and onchain protocols carrying institutional deployments. Sorted A–Z. Each entry records where it is named in the Field Guide.
Aave
Category: DeFi Lending Protocol · Region: Global
Aave is a decentralized, non-custodial liquidity protocol where suppliers provide liquidity and earn interest and borrowers post collateral exceeding the amount borrowed. The Field Guide records institutions deploying USDC into Aave and similar protocols for 4-5% tokenized Treasury yields while retaining intraday liquidity, classified PRODUCTION / PILOT under Use Case 5, Intraday Liquidity Management, and notes Aave’s stablecoin collateral share rising to 30.6% from 20.5%. The CoinDesk/Ripple North America landscape series cites that shift as institutional-grade on-chain lending. Aave V4 has launched on Avalanche.
News: https://aave.com/blog
Related: Aave blog
Named in: Production & Pilot Maturity Matrix
ADI Chain
Category: Layer 1 Blockchain · Region: UAE
ADI Chain is the settlement blockchain of the Abu Dhabi-based ADI Foundation, founded by Sirius International Holding, the digital arm of IHC, and positioned as an institutional gateway for governments, sovereign entities, and regulators in the Middle East, Asia, and Africa. The Field Guide records DDSC, a stablecoin pegged 1:1 to the dirham, settling on ADI Chain in the September 2026 UAE in-store retail payment pilot run with Network International. ADI names Mastercard, M-Pesa, BlackRock, and Franklin Templeton as ecosystem partners.
News: https://www.adi.foundation/
Named in: Digest, Sept. 14, 2026
Aleo
Category: Layer 1 Blockchain · Region: Global
Aleo is a Layer 1 blockchain built for private, programmable applications, using zero-knowledge proofs and the Leo programming language. The Field Guide records a USDC-backed stablecoin deployed on Aleo: USDCx, live on mainnet, backed 1:1 by native USDC held in Circle’s xReserve contract, with sender, receiver, and amount encrypted by default. For institutions, USDCx demonstrates a stablecoin design that keeps transaction detail confidential on-chain while remaining transferable 1:1 into the broader USDC ecosystem.
News: https://aleo.org/blog/
Related: USDCx on Aleo · USDCx case study
Algorand
Category: Layer 1 Blockchain · Region: Global
Algorand is a Layer 1 blockchain using pure proof-of-stake consensus and the Algorand Virtual Machine, positioned for institutional DeFi, digital payments, and real-world asset tokenization, with more than seven years of operation and no recorded downtime. The Field Guide records Brale expanding branded stablecoin issuance to Algorand in January 2026. That expansion places Algorand in the issuance chain for U.S. regulated branded stablecoins alongside the other networks Brale supports.
News: https://algorand.co/news
Related: Algorand network overview
Angle Protocol (agEUR / agUSD)
Category: DeFi Stablecoin Protocol · Region: EU
Angle Protocol is a decentralized, over-collateralized stablecoin protocol governed by Angle DAO that issues agTokens, agEUR and agUSD, backed by crypto collateral valued at oracle prices. The Field Guide’s editorial note groups Angle with Ondo as a yield-bearing instrument distinct from GENIUS Act payment stablecoins. As of September 2026 the protocol’s own site states that Angle is entering its final chapter, remains fully collateralized, and that its euro and dollar tokens, now named EURA and USDA, are redeemable 1:1 until March 1, 2027.
News: https://www.angle.money/
Arbitrum
Category: Layer 2 Blockchain · Region: Global
Arbitrum is an Ethereum Layer 2 network offering Arbitrum One as shared liquid infrastructure plus configurable dedicated chains, positioned as enterprise-grade infrastructure for onchain finance, consumer, and gaming applications. The Field Guide records Arbitrum as one of the four blockchains supported in Block’s Cash App USDC payments rollout, which began its phased release in May 2026 to nearly 60 million users. That inclusion places Arbitrum in a consumer payments distribution chain at retail scale rather than only in DeFi settlement.
News: https://blog.arbitrum.io/
Related: Arbitrum platform overview
Named in: Digest, May 29, 2026
Asseto
Category: DLT Platform · Region: EU
Asseto is the tokenized finance platform of ioBuilders, a Spanish enterprise blockchain firm reporting 30+ clients and 50+ delivered projects, supporting issuance, registration, trading, lifecycle management, and settlement of tokenized financial instruments and digital money in regulated environments. The Field Guide records Asseto, built by ioBuilders with Boston Consulting Group, hosting Spain’s first multibank tokenized-deposit proof of concept for interbank transfers, completed by five Spanish banks in July 2026. It shows a bank-consortium tokenized-deposit stack running on permissioned infrastructure rather than public networks.
News: https://io.builders/
Related: Asseto non-financial digital assets
Named in: Digest, July 10, 2026
Avalanche
Category: Layer 1 Blockchain · Region: Global
Avalanche is a Layer 1 blockchain whose institutional positioning covers tokenized securities, real-world assets, capital markets infrastructure, and launchable Avalanche Layer 1s. The Field Guide records the Avalanche Payments Collective, formally launched in June 2026, uniting 28 organizations around stablecoin settlement infrastructure and formalizing an ad hoc institutional build-out into a coordinated settlement network. Avalanche is also one of four blockchains, with Solana, Ethereum, and Stellar, to which Visa’s USDC settlement will expand by end 2026. Progmat migrated more than $2 billion of tokenized securities to Avalanche in February 2026.
News: https://www.avax.network/blog
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, Digest, June 19, 2026
Base
Category: Layer 2 Blockchain · Region: Global
Base is an Ethereum Layer 2 network built by Coinbase and positioned for financial transactions at scale, with sub-second transactions and sub-cent fees. The Field Guide records JPM Coin launching on Base in May 2026, Coinbase confirming in July 2026 that the Open USD stablecoin is coming to Base, and Base among the eight blockchains supported in Mastercard’s expanded stablecoin settlement network as of June 2026. Those deployments place a bank deposit token, a new issuer stablecoin, and a card network settlement path on one Layer 2.
News: https://www.base.org/
Named in: Digest, July 17, 2026, Digest, June 5, 2026 + 1 more
BNB Chain
Category: Layer 1 Blockchain · Region: Global
BNB Chain is a blockchain ecosystem comprising BNB Smart Chain, opBNB, and BNB Greenfield, covering DeFi, payments, real-world assets, and tokenized equities marketed as bStocks. The Field Guide ranks BNB Chain third by stablecoin transaction volume in the Artemis payments sample, after Tron and Ethereum, and names it as a chain on which FDUSD is available. Its placement in that sample indicates where stablecoin payment volume settles outside the two largest networks.
News: https://www.bnbchain.org/en/blog
Named in: What the Research Reports Show
Canton Network
Category: DLT Platform · Region: Global
Privacy-enabled, purpose-built DLT network for institutional financial markets. Operated by Digital Asset. Hosts the landmark weekend repo pilot (Goldman Sachs, Bank of America, Citadel Securities, Lloyds — real cash, real U.S. Treasuries, settled over a Saturday). Integrating JPMD (JPM Coin) natively onto Canton Network throughout 2026 via a Digital Asset/Kinexys collaboration. DTCC targets first live U.S. Treasury tokenization transaction on Canton in July 2026, enabled by Digital Asset's $355 million fundraise. Designed for synchronized financial markets where privacy between counterparties is required alongside interoperability.
News: https://www.canton.network/news
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, What the Research Reports Show, Digest, July 17, 2026, Digest, June 12, 2026 + 1 more
Cari Network
Category: Tokenized Deposit Network · Region: US
Bank-governed tokenized deposit network built for U.S. regional, mid-size, and community banks, founded by Gene Ludwig, the former Comptroller of the Currency who founded Promontory Financial Group. Cari issues a single shared deposit token that is indistinguishable between member banks: customers reach it through their own bank relationship, issuance and redemption stay on bank balance sheets, and the network operator controls supply on behalf of the membership. Six design partner banks — First Horizon, Huntington, KeyBank, M&T Bank, Old National, and SouthState — have co-developed the platform since September 2025; Bloomberg reported the effort in February 2026 as an attempt to keep deposit-based payments inside the banking system. Cari delivered a minimum viable product on March 31, 2026 and a full product suite on July 31, with pilot banks completing the mint, transfer, and burn cycle for a tokenized deposit ahead of a production launch targeted for later in 2026. More than 30 banks have joined and more than 40 more are in active discussions, representing combined assets above $10 trillion. The stack is assembled rather than built end to end: Matter Labs’ Prividium, a private permissioned Layer 2 anchored to Ethereum, provides the ledger; Fireblocks supplies wallet infrastructure, custody controls, and role-based access down to individual smart contract functions; and a strategic partnership with Tassat carries over technology proven in earlier single-bank deployments. The Mid-Size Bank Coalition of America has endorsed the network and Cari joined the American Bankers Association Premier Partner Network in July 2026. For a bank product manager, Cari is the clearest test of whether mid-size institutions can reach 24/7 programmable settlement through shared infrastructure instead of building it alone or routing deposits to a stablecoin issuer.
News: https://www.cari.com/news
Related: Cari Network news and announcements · Cari Network: bank-governed tokenized deposits (ZKsync case study) · Fireblocks on the Cari wallet and custody layer · Cari Network white paper: vision and roadmap (ABA)
Named in: Digest, Sept. 4, 2026, Directory research, September 2026
Chainlink
Category: Oracle Network · Region: Global
Chainlink is a decentralized oracle network whose products include CCIP for cross-chain messaging, the CCIP Cross-Chain Token standard, the Chainlink Runtime Environment, and Proof of Reserve. The Field Guide records Chainlink as a named participant in DTCC’s first live tokenized securities production trades on July 15, 2026, and cites Chainlink Proof of Reserve as real-time programmatic reserve verification increasingly integrated alongside traditional CPA attestations. Proof of Reserve can be wired into a token’s mint logic so that only collateralized assets enter circulation.
News: https://blog.chain.link/
Related: Chainlink Proof of Reserve
Named in: Institutional Reserve Disclosures, Digest, July 17, 2026
Ethereum
Category: Layer 1 Blockchain · Region: Global
Ethereum is the Layer 1 blockchain whose protocol development is coordinated through the Ethereum Foundation. The Field Guide records BlackRock’s BUIDL tokenized Treasury fund and its BSTBL tokenized share class (August 2026), Crédit Agricole’s MiCA-compliant EURXT (July 2026), SoFiUSD for SoFi’s nearly 15 million members (June 2026), Cash App’s USDC rollout, and Visa’s USDC settlement expansion by end 2026. New RWA holding addresses were flat from 2022 to late 2024, then accelerated from H2 2025 after the GENIUS Act, with RWA wallet activity spiking into 2026.
News: https://blog.ethereum.org/
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, What the Research Reports Show, Digest, Aug. 7, 2026, Digest, July 31, 2026 + 5 more
Fnality
Category: DLT Platform / Wholesale Settlement · Region: UK
Wholesale payment system consortium backed by 10+ major banks (including Barclays, BNY, Goldman Sachs, JPMorgan, and Santander). Tokenizes central bank money for interbank settlement — a tokenized commercial bank money system operating with central bank backing. Designed to operate alongside and eventually replace some correspondent-banking settlement flows for participating member banks. Addresses the gap between stablecoin payment rails and central bank money finality for institutional wholesale settlement.
News: https://fnality.com/news
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, What the Research Reports Show
HQLAx
Category: DLT Platform / Collateral · Region: EU
Securities lending and collateral mobility platform built on DLT. Partnered with JPMorgan Kinexys for intraday repo — processing $5 billion in the first month of operation (August 2025). Enables to-the-minute collateral substitution and eliminates the "give-before-get" settlement window that causes $40 billion/day in U.S. Treasury settlement fails. Operates on a regulated, permissioned DLT designed for Tier 1 institutional counterparties. Received strategic investment from both Broadridge and Digital Asset in April 2026 to support its next phase of growth on Canton Network.
News: https://www.hqla-x.com/news
Named in: Solution Viability Research
Huma Finance
Category: On-Chain Credit Protocol · Region: Global
Huma Finance is an on-chain credit network that funds real-world payment flows, describing a stablecoin liquidity network connected with institutional trade finance through its PayFi asset, $PST. The Field Guide cites Huma with Credit Coop under on-chain credit and asset-backed lending at Production / Scaling in Demand Vector 5, Institutional Capital Markets Infrastructure, where asset-backed credit reached $1 billion in 6.1 months. Huma and Arf have joined the Circle Payments Network as service providers, and Huma has adopted Chainlink CCIP.
News: https://blog.huma.finance/
Named in: Production & Pilot Maturity Matrix, Solution Viability Research
Hyperledger Besu
Category: DLT Platform · Region: Global
Hyperledger Besu, hosted by Linux Foundation Decentralized Trust, is an open-source Ethereum execution client written in Java under the Apache 2.0 license. It runs on Ethereum mainnet and public testnets and supports private, permissioned enterprise networks using QBFT and IBFT 2.0 proof-of-authority consensus. The Field Guide records DTCC’s first live tokenized securities production trades, completed July 15, 2026, running on Hyperledger Besu as well as the Canton Network. That places Besu in a U.S. post-trade production deployment rather than a pilot.
News: https://www.lfdecentralizedtrust.org/projects/besu
Related: Besu documentation
Named in: Digest, July 17, 2026
Hyperliquid
Category: On-Chain Derivatives Exchange · Region: Global
Hyperliquid is an on-chain derivatives and spot trading venue with its own order-book chain, vaults, staking, sub-accounts, and builder codes, positioned as infrastructure to house all finance. The Field Guide records roughly $4 billion of USDC in circulation on Hyperliquid, cited under Production USDC spot trading and capital markets liquidity in Demand Vector 5, Institutional Capital Markets Infrastructure. For institutional readers, that balance shows stablecoins functioning as trading collateral at scale on a purpose-built venue.
News: https://hyperliquid.xyz/news
Related: Hyperliquid announcements
Named in: Production & Pilot Maturity Matrix, Solution Viability Research
Injective
Category: Layer 1 Blockchain · Region: Global
Injective is a Layer 1 blockchain for regulated financial and tokenized markets, giving institutions asset issuance, permissioning, and compliance controls without custom contracts; Injective Institutional Services is registered with the U.S. Securities and Exchange Commission as a transfer agent. The Field Guide records that Agora paused AUSD minting on Injective in 2026 while continuing issuance on other chains. Injective has also been selected as the infrastructure for a live pilot in tokenized trade receivables generated by real commercial transactions.
News: https://injective.com/blog/
M^0 ($M)
Category: Multi-Issuer Stablecoin Protocol · Region: Global
M^0 is an open, multi-issuer stablecoin protocol that lets financial institutions become permissioned issuers of the $M digital dollar, backed by short-term Treasury bills held by approved Validators. The Field Guide treats M^0 as issuance infrastructure rather than a stablecoin brand; the protocol documentation describes $M as raw material for value representation and as collateral for other stablecoins. MXON was the first live minter on the network, completing a $10 million mint of $M, and M^0 publishes case studies with MoneyGram and MetaMask.
News: https://www.m0.org/
Related: M^0 protocol whitepaper · MXON first live minter
Maple Finance
Category: DeFi Lending / Tokenized Private Credit · Region: Global
Institutional lending protocol on Ethereum. Maple’s syrupUSDT and syrupUSDC products are tokenized credit pools that provide yield to depositors while funding institutional borrowers — the leading example of Phase 3 (Compose) tokenization in the private credit category. Accounts for approximately two-thirds of the $1.2B tokenized private credit market tracked by Pantera Capital’s State of Tokenization Q1 2026, with 64.3% DeFi utilization — the highest of any non-stablecoin asset class. Maple bridges traditional credit origination with DeFi yield mechanisms, targeting institutional treasury teams and DeFi-native liquidity providers seeking yield above money market rates.
News: https://maple.finance/news
mBridge
Category: Multi-CBDC Settlement Platform · Region: Global
Project mBridge is a multi-CBDC cross-border payments platform built on distributed ledger technology, developed with the BIS Innovation Hub and four central banks and extending the Hong Kong and Thailand Inthanon-LionRock experiment. The platform has reached minimum viable product stage, and additional central and commercial banks can join under the mBridge MVP legal framework and perform real transactions on it. The Field Guide identifies mBridge with BIS Project Agorá as multi-CBDC cross-border settlement infrastructure addressing monetary sovereignty at the CBDC level.
News: https://www.bis.org/about/bisih/topics/cbdc/mcbdc_bridge.htm
Named in: GENIUS Act & Regulatory Framework
Morpho
Category: DeFi Lending Protocol · Region: Global
Morpho is an on-chain credit network of permissionless lending markets and curated vaults used by applications and institutions to lend and borrow against digital collateral. The Field Guide records Morpho’s stablecoin collateral share at 34.7%, up from 20.6%, within Use Case 14, tokenized collateral and intraday liquidity, classified PRODUCTION / PILOT. Sky Vaults route third-party yield strategies through Morpho. For institutional readers, that collateral mix shows stablecoins replacing volatile crypto assets as posted collateral in on-chain credit.
News: https://morpho.org/blog
Related: Sky Vaults yield strategies deployed through Morpho
Named in: Production & Pilot Maturity Matrix
Partior
Category: Interbank Settlement Network · Region: Global
Partior operates a live blockchain-based clearing and settlement network for USD, SGD and EUR, providing 24/7 atomic settlement of cross-border payments and FX payment-versus-payment. The Field Guide records Partior as live for real-time cross-border settlement of tokenized deposits, with Deutsche Bank an investor contributing to the network for next-generation cross-border settlement. SWIFT Ledger and Partior work is classified PILOT and supports the “Near-Term” verdict for stablecoin interbank settlement.
News: https://www.partior.com/
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, What the Research Reports Show
Pix
Category: Instant Payment System · Region: Brazil
Pix is the instant payment system operated by Banco Central do Brasil, launched in 2020. The Field Guide classifies the Pix and USDC integration of April 2026 as Production, with real-to-USDC conversion through licensed institutions and full KYC/AML. Pix itself reached 148 million individuals and 12.8 million businesses in 2025, per the Banco Central do Brasil; the number using the USDC feature is not reported. Pix ran 27 monthly transactions per capita as of 2023; September 2026 talks with the ECB would link it to TIPS.
News: https://www.bcb.gov.br/en/financialstability/pix_en
Related: Pix statistics, Banco Central do Brasil
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, GENIUS Act & Regulatory Framework, Digest, Sept. 4, 2026
Polygon (Polygon Labs)
Category: Layer 2 / Scaling Network · Region: Global
Polygon is an Ethereum Layer 2 scaling network whose payments stack is developed by Polygon Labs. The Field Guide records Polygon hosting Franklin Templeton’s BENJI, the AlloyX and Standard Chartered RYT token in live T+0 settlement, $1.2B of Revolut volume, Visa’s USDC settlement, BlackRock BUIDL and Mastercard tokenized-asset pilots, and names it among the highest-volume stablecoin chains after Tron, Ethereum and BSC. Polygon is one of four chains in Cash App’s USDC rollout of May 2026 and published a 42-page Stablecoin Infrastructure Report in February 2026.
News: https://polygon.technology/blog
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, What the Research Reports Show, Digest, May 29, 2026
Polymarket
Category: Prediction Market Protocol · Region: Global
Polymarket runs on-chain prediction markets in which participants trade binary outcome contracts on politics, sports, macroeconomics and crypto, with individual markets showing volumes in the millions of dollars. The Field Guide cites Polymarket as a high-volume decentralized prediction market that uses stablecoins for collateral and settlement, classified “Production (niche)” under event-based stablecoin funding. For institutional readers it is an example of stablecoins functioning as working capital inside a live, self-contained on-chain market.
News: https://polymarket.com/
Named in: Production & Pilot Maturity Matrix, Solution Viability Research
Quorum
Category: Permissioned DLT Platform · Region: US
Quorum, distributed by Consensys as GoQuorum, is an Ethereum-derived client for permissioned enterprise networks, with installation, configuration and JSON-RPC tooling for private deployments. The Field Guide lists Quorum alongside Canton as an example of the private, permissioned “closed loop” network type used for tokenized deposits, as distinct from public, permissionless “open loop” networks such as Ethereum and Solana. That distinction frames how banks choose infrastructure for deposit tokens.
News: https://consensys.io/quorum
Related: Consensys GoQuorum documentation
Named in: What the Research Reports Show
RTP (Real-Time Payments)
Category: Instant Payment System · Region: US
RTP is The Clearing House’s real-time payments network for U.S. financial institutions, operating 24/7/365 with ISO 20022 data and transactions up to $10 million. The Field Guide names RTP among the rails a bank payment orchestration layer must span, with ACH, FedNow, wire, card networks and on-chain, and estimates RTP and FedNow together move roughly $200–250 billion a month. That volume is the incumbent instant-payment baseline against which stablecoin flows are measured.
News: https://www.theclearinghouse.org/payment-systems/rtp
Named in: Solution Viability Research, Stablecoin v. ACH
SEPA Instant (SCT Inst)
Category: Instant Payment System · Region: EU
SEPA Instant Credit Transfer is the euro instant payment scheme maintained by the European Payments Council. The Field Guide records that it settles euro payments within 10 seconds, 24/7/365, across participating EU states, and treats it as a strong incumbent that narrows the stablecoin advantage for EU-to-EU flows. For institutional readers, the scheme sets the speed and cost benchmark any euro stablecoin proposition inside the single market has to clear.
News: https://www.europeanpaymentscouncil.eu/what-we-do/sepa-instant-credit-transfer
Named in: Solution Viability Research
Sky (formerly MakerDAO)
Category: DeFi Protocol · Region: Global
Sky, formerly MakerDAO, operates the USDS stablecoin and savings products including sUSDS, Fixed Yield sUSDS and stUSDS, accessed non-custodially through Sky.money. The Field Guide names Sky with Aave as a protocol into which institutions deploy USDC for 4–5% tokenized Treasury yields under Use Case 5, intraday liquidity management, classified PRODUCTION / PILOT. Sky Vaults deploy third-party yield strategies through Morpho and Pendle. The protocol is one route by which idle institutional stablecoin balances earn Treasury-linked yield.
News: https://sky.money/blog
Related: Sky.money savings products
Named in: Production & Pilot Maturity Matrix
Solana
Category: Layer 1 Blockchain · Region: Global
Solana is a public Layer 1 blockchain, cited in the Field Guide as an “open loop” network alongside Ethereum. The Visa and Circle acquirer settlement stack settles card balances into USDC on Solana, live in the United States since December 2025 (Production). Solana also carries USDPT behind Western Union’s Stablecard, SoFiUSD enterprise settlement on SoFi’s Exchange Network, and places among Mastercard’s eight settlement chains and Cash App’s four USDC chains. Morgan Stanley Investment Management launched a spot Solana ETP on NYSE Arca in July 2026.
News: https://solana.com/news
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, What the Research Reports Show, Digest, Aug. 7, 2026, Digest, July 31, 2026 + 3 more
Stellar
Category: Layer 1 Blockchain · Region: Global
Stellar is a public Layer 1 blockchain for payments and asset issuance, supported by the Stellar Development Foundation. The Field Guide records U.S. Bancorp’s USBDC pilot cross-border transfer running on Stellar in September 2026, Franklin Templeton’s BENJI at about $1.9B hosted on Stellar alongside Polygon, and SG-FORGE’s EURCV live on the network. Stellar is one of four chains, with Solana, Ethereum and Avalanche, that Visa plans to support for USDC settlement by end 2026.
News: https://stellar.org/blog
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, Digest, Sept. 14, 2026
Sui
Category: Layer 1 Blockchain · Region: Global
Sui is a public Layer 1 blockchain supported by the Sui Foundation, with an ecosystem spanning institutional settlement, tokenized funds and digital securities. The Field Guide names Sui as a chain hosting FDUSD and records that Copper supports USDC on Sui, placing it in the custody and issuance chain for institutional stablecoin holdings. Coverage of Sui in the Field Guide is limited to those issuance and custody references rather than a named bank deployment.
News: https://blog.sui.io/
TARGET Instant Payment Settlement (TIPS)
Category: Instant Payment System · Region: EU
TIPS is the Eurosystem platform that settles instant payments in central bank money, operating 24/7/365 with final and irrevocable settlement in euro, Swedish krona and Danish krone, and compliance with the SEPA Instant Credit Transfer scheme. The Field Guide records TIPS as the euro-area leg of the instant payment corridor Banco Central do Brasil and the ECB discussed in September 2026, which would give Pix its first cross-border extension. TIPS is part of TARGET Services, sharing a single liquidity pool with large-value payments and securities settlement.
News: https://www.ecb.europa.eu/paym/target/tips/html/index.en.html
Named in: Digest, Sept. 4, 2026
Tempo
Category: Payments Blockchain · Region: Global
Tempo is a payments-focused Layer 1 blockchain incubated by Stripe and Paradigm, built as a stablecoin-native settlement layer for remittances, global payouts and payroll. The Field Guide records that Deel’s DLUSD is settled on Tempo and held in embedded wallets, a closed-loop deployment reported in August 2026 covering 80 countries. For institutional readers, Tempo is an example of payroll and payout providers issuing on purpose-built payment chains rather than general-purpose networks.
News: https://tempo.xyz/
Named in: Digest, Aug. 21, 2026
Tron
Category: Layer 1 Blockchain · Region: Global
Tron is a public Layer 1 blockchain with an energy-and-bandwidth resource model that allows fee-free transactions for users holding staked resources. The Field Guide names Tron the dominant blockchain by volume in stablecoin-backed B2B import and export corridors for USDT and USDC settlement, and the most popular chain by stablecoin transaction volume in the Artemis payments sample, ahead of Ethereum, BSC (BNB Chain) and Polygon. Institutional readers evaluating cross-border corridors encounter Tron as the incumbent settlement venue.
News: https://trondao.org/blog/
Related: TRON network statistics
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, What the Research Reports Show
Uniswap
Category: Decentralized Exchange Protocol · Region: Global
Uniswap is an automated market maker protocol for on-chain token trading, with the web app, wallet and API built by Uniswap Labs. The Field Guide records Uniswap hosting BlackRock’s BUIDL fund with $2B+ in assets, reported in the digest for the week of April 28, 2026. Uniswap v2, v3, v4 and UniswapX are live on Robinhood Chain, where Uniswap is the primary public AMM and BUIDL trading is supported. The protocol is the venue through which tokenized fund shares reach DeFi liquidity.
News: https://blog.uniswap.org/
Named in: Digest, April 28, 2026
XRP Ledger (XRPL)
Category: Layer 1 Blockchain · Region: Global
The XRP Ledger is an open-source public blockchain, run on the rippled reference server, with stewardship of the default validator list held by the XRPL Foundation. The Field Guide records XRPL hosting RLUSD and EURCV, underpinning Ripple Payments cross-border settlement, and carrying the November 2025 RLUSD pilot with Mastercard, WebBank and Gemini that settles credit card transactions in stablecoin, classified PILOT. XRPL is also one of eight chains in Mastercard’s expanded stablecoin settlement network.
News: https://xrpl.org/blog/
Named in: Production & Pilot Maturity Matrix, Solution Viability Research, Digest, June 5, 2026
Zelle
Category: Instant Payment System · Region: US
Zelle is the U.S. bank-owned person-to-person and small-business payment network operated by Early Warning, which describes it as a $1.2 trillion payments network reached mainly through participating banks’ mobile apps. The Field Guide places Zelle in the U.S. faster and instant payments cluster and estimates Zelle and Venmo together add roughly $120 billion a month in mostly P2P and small-merchant flows. Those flows are part of the incumbent volume baseline in the Field Guide’s stablecoin-versus-existing-rails comparison.
News: https://www.zellepay.com/press-releases
Named in: Stablecoin v. ACH
U.S. Stablecoin Field Guide · Networks & Protocols · v0.9 · September 16, 2026
Contact: ferguson@fintechrising.co
Page History
6 reader-facing changes since 2026-09-16; last change 2026-10-13 (v1.0).
Show all changes
| Date | Release | Change |
|---|---|---|
| 2026-10-13 | v1.0 | remove unsupported Visa $4.5B run rate and expansion claims; credit U.S. USDC settlement launch to Visa press release |
| 2026-10-13 | v1.0 | Pix directory entry drops unsupported Chainalysis attribution |
| 2026-10-13 | v1.0 | Pix/USDC reach figure replaced with Banco Central do Brasil 2025 Pix user count; USDC usage not reported |
| 2026-10-12 | v1.0 | v1.0 evidence corrections — Swift ledger, DTCC production trades, Pontes launch, BUIDL wording, x402 data, Citi $1.9T credited to [CI30], Tether supply, Schnabel quote; add July–September 2026 history |
| 2026-09-17 | v0.9 directory | Add Cari Network cluster: network, seven banks, Matter Labs and Tassat; Sept 4 digest item |
| 2026-09-16 | v0.9 directory | Directory v0.9: split into Companies, Institutions & Regulators, Networks & Protocols |
Infrastructure and formatting commits are omitted. Release-level detail is in the Release Notes.