Markets · bedrock market · provisional
Stablecoins and Tokenization (stablecoin issuers, tokenized assets)
Issuer market (mica emt/art + hkma regulator registers; defillama stablecoin coverage). The Kin Score Market layer reads each provider in its market: who it integrates with, how deep those integrations go, and where the market publishes its own structure. Methodology.
196providers measured
19 (9.7%)declare their own
76 (38.8%)covered by others only
16 (8.2%)distribution only (sell through, not integrations)
85 (43.4%)undeclared
45declare compatibility (report only, not weighted)
2in-market workflows shown
Provisional. Provisional and unweighted: the Market layer is not part of the composite or agent readiness. Leader lists are read within a position, never as one ranking. A provider that declares nothing we can
read is shown as undeclared, with no number: we never infer integrations.
Where this market publishes its structure
- ESMA interim MiCA register EMTWP.csv (e-money token issuers) machine-readable, 50 white-paper rows; 4 issuers linked (circle, paxos, bridge, fiat-republic)
- ESMA interim MiCA register ARTZZ.csv (asset-referenced token issuers) machine-readable, header only on 2026-10-21: no ART issuer authorised
- ESMA interim MiCA register OTHER.csv (other crypto-asset white papers) machine-readable, 1,049 rows, no website column (wp_url host); 1 in-market link (re); ~90 white papers hosted on kraken.com held
- ESMA interim MiCA register CASPS.csv machine-readable, crypto market's source (sweep-crypto.py); edges already on repos, not re-written
- HKMA Register of Licensed Stablecoin Issuers (Cap. 656) machine-readable, 2 licensees (Anchorpoint Financial, HSBC HK); 0 linked
- DefiLlama stablecoins (stablecoins.llama.fi/stablecoins + /stablecoin/{id}) machine-readable, 424 stablecoins, all with url; 33 in-market issuers linked
- NYDFS virtual currency businesses / trust charters (dfs.ny.gov) not machine-readable: Cloudflare bot challenge; crypto reads a Wayback capture via a hand-verified legal-name table
- rwa.xyz not machine-readable: client-rendered dashboard; API keyed; recorded, not read
Own = declares at least one integration itself; covered = visible only because an aggregator, standards body, regulator or partner contract names it; distribution-only = listed only on cloud marketplaces it sells through, a channel reported beside, never counted as its own declared integrations; undeclared = nothing we can read, so no number; declares_compatibility = providers with a `compatible` shape vote, report only (kin, 2026-10-13): never counted as own, never in depth or position.
Taxonomy how this market maps onto apis.io
Derived 2026-10-23 from the 196 providers in this market we could resolve in the catalog. The percentage is the share of those providers carrying each one; it describes the market, not the tag or industry. Tag groups have no page of their own yet, so they are listed unlinked.
| Tags | Stablecoins 73%, Blockchain 53%, Payments 50%, Cryptocurrency 47%, Fintech 39%, Web3 31%, DeFi 31%, Tokenization 22% |
|---|---|
| Tag groups | Blockchain 97%, Fintech 71%, Tokenization 23%, MCP 21% |
| Industries | Blockchain, Crypto & Web3 99%, Payments & Money Movement 51%, Financial Technology 39% |
share of resolved cohort carrying it; tags >=0.20 & >=3 members (max 12, junk dropped), tag_groups >=0.20 (cooccurrence, non-cross-cutting; max 8), industries >=0.20 (max 6), areas >=0.10 (max 6; areas are keyword-matched and sparse), capabilities L1 >=0.20 (max 8); derive-market-taxonomy.py
Leaders by position (provisional)
Provisional: grouped by position, depth compared within a position only. Distribution (cloud marketplaces) and iPaaS bridges are counted beside position, never inside it. Unknown-builder listings are left out of position shares and counted here.
builds-on 4 · publishes apps on other platforms' stores
| Provider | Depth | Integrations | In / out | Unknown builder | Distribution | iPaaS bridge | Mix |
|---|---|---|---|---|---|---|---|
| P2Flux API | 36.4 | 3 | 0 / 3 | 0 | 2 | 0 | builds-on-platform 33%, distribution 67% |
| Tether | 26.8 thin | 2 | 0 / 2 | 0 | 2 | 0 | builds-on-platform 33%, distribution 67% |
| CipherOwl | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | builds-on-platform 100% |
| Origin Protocol | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | builds-on-platform 100% |
coverage 1 · reaches banks, carriers, systems or channels (an aggregator)
| Provider | Depth | Integrations | In / out | Unknown builder | Distribution | iPaaS bridge | Mix |
|---|---|---|---|---|---|---|---|
| DefiLlama | 46.0 | 33 | 0 / 33 | 0 | 0 | 0 | coverage 100% |
covered 31 · reached mainly through aggregators
| Provider | Depth | Integrations | In / out | Unknown builder | Distribution | iPaaS bridge | Mix |
|---|---|---|---|---|---|---|---|
| Gemini Trust Company | 54.8 | 6 | 0 / 6 | 0 | 0 | 0 | contract 50%, covered 50% |
| Brale | 46.0 | 3 | 0 / 3 | 0 | 2 | 0 | contract 25%, covered 25%, distribution 50% |
| Acala | 44.6 | 3 | 0 / 3 | 0 | 1 | 0 | covered 67%, distribution 33% |
| Paxos | 36.4 thin | 2 | 0 / 2 | 0 | 0 | 0 | contract 50%, covered 50% |
| Figure Markets | 35.3 thin | 2 | 0 / 2 | 0 | 0 | 0 | covered 100% |
| Aave | 34.5 thin | 2 | 0 / 2 | 0 | 0 | 0 | covered 50%, builds-on-platform 50% |
| Agora | 34.5 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 50%, covered 50% |
| Ripio | 34.5 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 50%, covered 50% |
| Dinari | 33.7 | 5 | 0 / 5 | 0 | 4 | 0 | covered 20%, distribution 80% |
| Hubble Protocol | 26.8 thin | 2 | 0 / 2 | 0 | 1 | 0 | covered 50%, distribution 50% |
| Mezo | 26.8 thin | 2 | 0 / 2 | 0 | 1 | 0 | covered 50%, distribution 50% |
| Sovryn | 26.8 thin | 2 | 0 / 2 | 0 | 1 | 0 | covered 50%, distribution 50% |
| UXD Protocol | 26.8 thin | 2 | 0 / 2 | 0 | 1 | 0 | covered 50%, distribution 50% |
| Frax Finance | 17.8 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Blast | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Coin98 | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Curve Finance | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| dForce | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Ethena Labs | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Hedge | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Hyperbeat | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Infinifi | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Level | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Liquity | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| M0 | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Mountain Protocol | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Multipli | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Ondo Finance | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Reflexer | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Synthetix | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
| Hibachi | 9.6 thin | 1 | 0 / 1 | 0 | 0 | 0 | covered 100% |
regulated 23 · named in a regulator's register or partners' contracts
| Provider | Depth | Integrations | In / out | Unknown builder | Distribution | iPaaS bridge | Mix |
|---|---|---|---|---|---|---|---|
| Revolut | 61.7 | 22 | 0 / 22 | 0 | 2 | 2 | provider-built 12%, ipaas-bridge 8%, contract 46%, standard 12%, covered 8%, builds-on-platform 4%, distribution 8% |
| Fiat Republic | 58.9 | 3 | 0 / 3 | 0 | 0 | 0 | contract 100% |
| Bridge | 57.3 | 4 | 0 / 4 | 0 | 0 | 0 | contract 50%, standard 25%, covered 25% |
| Circle | 56.0 | 5 | 0 / 5 | 0 | 0 | 0 | contract 60%, standard 20%, covered 20% |
| Zero Hash | 53.1 | 8 | 0 / 8 | 0 | 1 | 0 | contract 50%, standard 25%, builds-on-platform 12%, distribution 12% |
| Afriex | 50.3 | 4 | 0 / 4 | 0 | 1 | 0 | contract 75%, distribution 25% |
| Lightspark | 43.8 | 4 | 0 / 4 | 0 | 3 | 0 | contract 20%, standard 20%, distribution 60% |
| Sygnum | 41.2 thin | 2 | 0 / 2 | 0 | 0 | 0 | contract 100% |
| Airtm | 36.4 thin | 2 | 0 / 2 | 0 | 0 | 0 | contract 50%, standard 50% |
| Anchorage Digital | 36.4 thin | 2 | 0 / 2 | 0 | 0 | 0 | contract 50%, standard 50% |
| Fin | 36.4 thin | 2 | 0 / 2 | 0 | 0 | 0 | contract 50%, builds-on-platform 50% |
| BVNK | 22.7 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| Fipto | 22.7 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| Regular Finance | 22.7 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| Bastion | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| Coinflow | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| Grapes Finance | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| Mesh Connect | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| NALA | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| Re | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| Securitize | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| SpotPay | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
| WisdomTree | 19.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | contract 100% |
standard 30 · listed by a voluntary standard's own directory
| Provider | Depth | Integrations | In / out | Unknown builder | Distribution | iPaaS bridge | Mix |
|---|---|---|---|---|---|---|---|
| Merit Systems | 58.1 | 3 | 0 / 3 | 0 | 0 | 0 | standard 100% |
| Orthogonal | 58.1 | 3 | 0 / 3 | 0 | 0 | 0 | standard 67%, builds-on-platform 33% |
| Fireblocks | 50.3 | 8 | 0 / 8 | 0 | 1 | 0 | contract 25%, standard 62%, distribution 12% |
| Sponge | 45.0 | 4 | 0 / 4 | 0 | 2 | 0 | standard 25%, builds-on-platform 25%, distribution 50% |
| Coin Railz | 42.8 | 3 | 0 / 3 | 0 | 2 | 0 | standard 33%, distribution 67% |
| anchor-x402 | 40.9 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 50%, builds-on-platform 50% |
| Liquid Agent | 40.9 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 50%, builds-on-platform 50% |
| MetaLend | 40.9 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 50%, builds-on-platform 50% |
| shveik | 40.9 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 50%, builds-on-platform 50% |
| Solvela | 39.3 | 4 | 0 / 4 | 0 | 3 | 0 | standard 25%, distribution 75% |
| Injective | 36.4 | 3 | 0 / 3 | 0 | 2 | 0 | standard 33%, distribution 67% |
| Arq | 34.5 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 100% |
| Blockdaemon | 34.5 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 100% |
| Digital Asset | 34.5 thin | 2 | 0 / 2 | 0 | 0 | 0 | standard 100% |
| Celo | 26.8 thin | 2 | 0 / 2 | 0 | 2 | 0 | standard 33%, distribution 67% |
| Eco | 26.8 thin | 2 | 0 / 2 | 0 | 1 | 0 | standard 50%, distribution 50% |
| Scro Orphan Desk | 23.6 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| MERCURY | 23.6 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Akoya | 20.4 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Archax | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Caliza | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Cross River Bank | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Eldorado | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Erebor | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Etherealize | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Fin | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Jeeves | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Kite | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Loop Crypto | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
| Takenos | 17.2 thin | 1 | 0 / 1 | 0 | 0 | 0 | standard 100% |
mixed 6 · no single mode dominates
| Provider | Depth | Integrations | In / out | Unknown builder | Distribution | iPaaS bridge | Mix |
|---|---|---|---|---|---|---|---|
| Ripple Labs | 55.4 | 7 | 0 / 7 | 0 | 0 | 0 | contract 43%, standard 43%, covered 14% |
| Allium | 50.5 | 3 | 0 / 3 | 0 | 1 | 0 | standard 33%, builds-on-platform 33%, distribution 33% |
| SCVD General Store | 50.5 | 3 | 0 / 3 | 0 | 1 | 0 | standard 33%, builds-on-platform 33%, distribution 33% |
| Angle | 44.1 | 3 | 0 / 3 | 0 | 1 | 0 | standard 33%, covered 33%, distribution 33% |
| Seismic Systems | 44.1 | 3 | 0 / 3 | 0 | 1 | 0 | standard 33%, builds-on-platform 33%, distribution 33% |
| Bitso | 42.5 | 6 | 0 / 6 | 0 | 0 | 1 | ipaas-bridge 17%, contract 17%, standard 33%, covered 33% |
distribution 16 · only sells through cloud marketplaces
| Provider | Depth | Integrations | In / out | Unknown builder | Distribution | iPaaS bridge | Mix |
|---|---|---|---|---|---|---|---|
| AlgoVoi | 28.8 | 3 | 0 / 3 | 0 | 3 | 0 | distribution 100% |
| Provenance | 28.8 | 3 | 0 / 3 | 0 | 3 | 0 | distribution 100% |
| TronZap | 28.7 | 4 | 0 / 4 | 0 | 4 | 0 | distribution 100% |
| Mesh | 19.2 thin | 2 | 0 / 2 | 0 | 2 | 0 | distribution 100% |
| Taurus | 19.2 thin | 2 | 0 / 2 | 0 | 2 | 0 | distribution 100% |
| Catena | 9.6 thin | 1 | 0 / 1 | 0 | 2 | 0 | distribution 100% |
| Chain | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
| CoinList | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
| Gluwa | 9.6 thin | 1 | 0 / 1 | 0 | 2 | 0 | distribution 100% |
| Oumla | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
| Routefusion | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
| Saber | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
| SynFutures | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
| Tesser | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
| Trust Token | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
| Zebec | 9.6 thin | 1 | 0 / 1 | 0 | 1 | 0 | distribution 100% |
undeclared 85 · declares nothing we can read: no number
| Provider | Depth | Integrations | In / out | Unknown builder | Distribution | iPaaS bridge | Mix |
|---|---|---|---|---|---|---|---|
| 3Jane | undeclared | - | - | - | - | - | |
| A2A402 | undeclared | - | - | - | - | - | |
| ADDX | undeclared | - | - | - | - | - | |
| AlloyX | undeclared | - | - | - | - | - | |
| Amp | undeclared | - | - | - | - | - | |
| Ampleforth | undeclared | - | - | - | - | - | |
| Andalusia Labs | undeclared | - | - | - | - | - | |
| Animocabrandscorporation | undeclared | - | - | - | - | - | |
| Archer | undeclared | - | - | - | - | - | |
| Arf | undeclared | - | - | - | - | - | |
| Arivalbank | undeclared | - | - | - | - | - | |
| Augustus | undeclared | - | - | - | - | - | |
| BCB Group | undeclared | - | - | - | - | - | |
| Bitbond | undeclared | - | - | - | - | - | |
| BitPowr Technologies | undeclared | - | - | - | - | - | |
| brick.blue | undeclared | - | - | - | - | - | |
| BRL | undeclared | - | - | - | - | - | |
| BSOS | undeclared | - | - | - | - | - | |
| CipherTrust | undeclared | - | - | - | - | - | |
| Cobre | undeclared | - | - | - | - | - | |
| Coinshift | undeclared | - | - | - | - | - | |
| Courtyard | undeclared | - | - | - | - | - | |
| D3 | undeclared | - | - | - | - | - | |
| Divine | undeclared | - | - | - | - | - | |
| DLT Payments | undeclared | - | - | - | - | - | |
| DolarApp | undeclared | - | - | - | - | - | |
| Due | undeclared | - | - | - | - | - | |
| X402 AI 自助门店 | undeclared | - | - | - | - | - | |
| Endl | undeclared | - | - | - | - | - | |
| Ultravioleta DAO | undeclared | - | - | - | - | - | |
| Fei Protocol | undeclared | - | - | - | - | - | |
| Fluidity | undeclared | - | - | - | - | - | |
| Fnality International | undeclared | - | - | - | - | - | |
| Freeverse | undeclared | - | - | - | - | - | |
| Hamsa | undeclared | - | - | - | - | - | |
| Hevn | undeclared | - | - | - | - | - | |
| Hifi | undeclared | - | - | - | - | - | |
| Hilt | undeclared | - | - | - | - | - | |
| Hive Agent IQ | undeclared | - | - | - | - | - | |
| Hourglass | undeclared | - | - | - | - | - | |
| Huma Technologies | undeclared | - | - | - | - | - | |
| IDRX | undeclared | - | - | - | - | - | |
| InvestaX | undeclared | - | - | - | - | - | |
| Karak | undeclared | - | - | - | - | - | |
| LifeSite | undeclared | - | - | - | - | - | |
| Chado Studio | undeclared | - | - | - | - | - | |
| Loon Finance | undeclared | - | - | - | - | - | |
| LVL LTD CO | undeclared | - | - | - | - | - | |
| MakerDAO | undeclared | - | - | - | - | - | |
| Maple Finance | undeclared | - | - | - | - | - | |
| Midas | undeclared | - | - | - | - | - | |
| Mobilecoin | undeclared | - | - | - | - | - | |
| Molecule | undeclared | - | - | - | - | - | |
| N3XT | undeclared | - | - | - | - | - | |
| Obligate | undeclared | - | - | - | - | - | |
| OpenFX | undeclared | - | - | - | - | - | |
| OpenToken | undeclared | - | - | - | - | - | |
| Opentrade | undeclared | - | - | - | - | - | |
| Ostium Labs | undeclared | - | - | - | - | - | |
| Parallax | undeclared | - | - | - | - | - | |
| Pave Bank | undeclared | - | - | - | - | - | |
| Pendle | undeclared | - | - | - | - | - | |
| Plural Finance | undeclared | - | - | - | - | - | |
| Prypco | undeclared | - | - | - | - | - | |
| Rain | undeclared | - | - | - | - | - | |
| Redotpay | undeclared | - | - | - | - | - | |
| Request Finance | undeclared | - | - | - | - | - | |
| Rialo | undeclared | - | - | - | - | - | |
| Skyfire | undeclared | - | - | - | - | - | |
| Sling Money | undeclared | - | - | - | - | - | |
| Spheron | undeclared | - | - | - | - | - | |
| Squads | undeclared | - | - | - | - | - | |
| Stablecore | undeclared | - | - | - | - | - | |
| Stablesea | undeclared | - | - | - | - | - | |
| Hive Civilization | undeclared | - | - | - | - | - | |
| Topl | undeclared | - | - | - | - | - | |
| Toucan | undeclared | - | - | - | - | - | |
| Tranched | undeclared | - | - | - | - | - | |
| tZERO | undeclared | - | - | - | - | - | |
| Unstoppable Finance (Iron) | undeclared | - | - | - | - | - | |
| Utila | undeclared | - | - | - | - | - | |
| Utopia Labs | undeclared | - | - | - | - | - | |
| Vixtra | undeclared | - | - | - | - | - | |
| Warblerlabs | undeclared | - | - | - | - | - | |
| Zeal | undeclared | - | - | - | - | - |
Top workflows by market votes
Workflows (Arazzo) and their phrasing are generated by API Evangelist, ranked by market votes (integration edges in the graph, weighted by channel).
In-market workflows only: a step on the market provider's side maps to this market's business capabilities (), and the partner is not a generic export/notify app. Other workflows are counted as bridges (including any whose steps do not resolve to a capability yet). Methodology. In-market: 2; bridges: 0.
Generated 2026-10-24 from API Evangelist's own files; nothing on this page is a model's judgement. Provisional and unweighted; not part of the Kin Score composite or agent readiness. Read the Market layer methodology. Disagree with an edge? Every edge cites its evidence and can be corrected through the normal correction path.