Circle USYC Alternatives: Similar RWA Protocols Compared

Circle USYC carries a risk grade of B- (29/100) and ranks #9 of 73 rated RWA protocols. Below are 72 RWA protocols ranked by safety — from safest to riskiest. 8 of these protocols score lower (safer) than Circle USYC, and 64 score higher (riskier).

The single safest alternative is Paxos Gold (B+, 20/100 — 9 points safer than Circle USYC). See the Circle USYC vs Paxos Gold comparison to weigh the tradeoffs.

Current Protocol

RWA

Risk

B-

Value

D

TVL

$3.0B

Safety analysis →Investment analysis →

AlternativeRiskValueTVL

1

Paxos GoldSafer

B+

A-

$2.2B

2

SpikoSafer

B

C-

$1.2B

3

Ethena USDtbSafer

B

B

$1.1B

4

Paxos GoldSafer

B

B+

—

5

Superstate USTBSafer

B

D-

$723M

6

OpenEden TBILLSafer

B-

D

$169M

7

B-

C-

$94M

8

VanEck Treasury FundSafer

B-

D

$64M

9

B-

D-

$41M

10

MatrixDock XAUM

B-

B-

$72M

11

B-

D-

$921M

12

B-

C-

$22M

13

B-

C

$5M

14

Blockchain Capital

B-

D

$964M

15

B-

D

$61M

16

B-

C

$83M

17

Apollo Diversified Credit Securitize Fund

B-

D-

$90M

18

B-

B-

$384M

19

B-

C-

$99M

20

Sygnum FIUSD Liquidity Fund

B-

D-

$29M

21

B-

D

$864M

22

BlackRock BUIDL

B-

C

$3.0B

23

B-

D+

$160M

24

B-

C

$11M

25

B-

C

$11M

26

B-

B-

$116M

27

Theo Network thBill

B-

D-

$120M

28

Aave Horizon RWA

B-

B-

$350M

29

B-

C

$6M

30

Figure Markets Democratized Prime

B-

C+

$77M

31

B-

D-

$38M

32

C+

C-

$8M

33

C+

C+

$1.4B

34

C+

D-

$106M

35

C+

C

$50M

36

Securitize Tokenized AAA CLO Fund

C+

D

$106M

37

Superstate USCC

C+

D

$228M

38

C+

C

$279M

39

Estate Protocol

C+

D+

$14M

40

C+

D-

$51M

41

C+

B+

$2.7B

42

C+

B+

$2.9B

43

C+

B-

$171M

44

C+

A-

$3.3B

45

C+

C

$5M

46

C+

C-

$10M

47

C+

C-

$179M

48

C+

C-

$1.4B

49

Franklin Templeton BENJI

C+

C

$1.0B

50

C+

C-

$185M

51

C+

C

$88M

52

C+

D+

$15M

53

C

C

$126M

54

C

D+

$12M

55

C

C

$226M

56

C

D-

$7M

57

C

D+

$290M

58

Ondo Global Markets

C

C+

$1.2B

59

C

F

$65M

60

C

D

$124M

61

C

C-

$19M

62

C

C+

$50M

63

C

C-

$43M

64

C

D+

$527M

65

C

D+

$13M

66

C

D+

$157M

67

C

D

$23M

68

C

D+

$23M

69

Mountain Protocol

C-

B

—

70

C-

D+

$21M

71

C-

D+

$2M

72

D

C

$290M

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