{"slug":"usds-vs-usdc","question":"USDS or USDC — how does Sky’s dollar compare with Circle’s?","answer":"USDS (Sky (formerly MakerDAO)): $7.0B in circulation, no MiCA issuer. sUSDS (Sky (MakerDAO)): size not stated, yields ~3.8%, MiCA status not in our data.","shortAnswer":"USDS (Sky (formerly MakerDAO)): $7.0B in circulation, no MiCA issuer. sUSDS (Sky (MakerDAO)): size not stated, yields ~3.8%, MiCA status not in our data. USDC (Circle): $72.7B in circulation, authorised under MiCA in the EU.","asOf":"2026-11-09","faq":[{"q":"Where does the yield come from?","a":"sUSDS: Over-collateralized crypto loans + RWA/T-bills."},{"q":"Which is the largest?","a":"By size, USDC at $72.7B, followed by USDS at $7.0B. Size is not safety, but a larger product usually means a deeper market to sell into."},{"q":"Are these yields fixed?","a":"1 of 3 are variable: the rate moves with markets and is not guaranteed. The figures on this page were last checked between 2026-10-11 and 2026-11-09."}],"count":3,"rows":[{"ticker":"USDS","name":"Sky Dollar","issuer":"Sky (formerly MakerDAO)","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$7,039,445,103 circulating","chains":"Ethereum / Solana / Base (+4)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://sky.money/","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/USDS","json":"https://tokenbank.world/api/tokens/USDS"},{"ticker":"sUSDS","name":"Sky Savings Token","issuer":"Sky (MakerDAO)","category":"Yield Stablecoins","yield":"~3.8%","yieldPct":3.8,"yieldKind":"variable","minimumUsd":0,"size":"—","chains":"Ethereum (+Solana, Base)","country":"—","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://sky.money/susds","lastVerified":"2026-11-09","tier":"curated","page":"https://tokenbank.world/token/sUSDS","json":"https://tokenbank.world/api/tokens/sUSDS"},{"ticker":"USDC","name":"USD Coin","issuer":"Circle","category":"Payment Stablecoins","yield":"No yield","yieldPct":null,"yieldKind":"none","minimumUsd":null,"size":"$72,656,933,418 circulating","chains":"Ethereum / Hyperliquid L1 / Solana (+154)","country":"United States","kycSecondary":"none","maturity":null,"lifecycle":"live","isin":null,"contract":null,"source":"https://www.circle.com/circle-mint","lastVerified":"2026-10-11","tier":"imported","page":"https://tokenbank.world/token/USDC","json":"https://tokenbank.world/api/tokens/USDC"}],"programs":[],"underlyings":[],"sources":[],"_links":{"page":"https://tokenbank.world/answers/usds-vs-usdc","index":"https://tokenbank.world/api/v1/answers"},"_citation":"TokenBank, “USDS or USDC — how does Sky’s dollar compare with Circle’s?”, https://tokenbank.world/answers/usds-vs-usdc (data as of 2026-11-09), CC BY 4.0.","_license":"CC BY 4.0 — https://creativecommons.org/licenses/by/4.0/","_disclaimer":"Computed from sourced data; yields are variable and not guaranteed. Not investment advice. Verify each row’s source before relying on it."}