Morph Stablecoins: USDT, USDC, and USDe, Supply & Risk
Morph has 8 tracked deployments across 8 stablecoins in the checked-in Pharos registry. The mapped set includes Tether (USDT), USD Coin (USDC), and Ethena USDe (USDe). Each of the 8 stablecoins has one mapped contract on the network.
The Morph cohort's peg mix is US Dollar (7) and Korean Won (1); its backing mix is Crypto (4) and RWA (4); and its governance mix is CeFi (4) and CeFi-Dep (4). These counts classify stablecoins rather than contracts, so an asset with multiple deployments is not double-counted.
Current supply ordering, global market share, and largest-asset concentration for Morph come from the coordinated live snapshots below. Keeping those volatile values in the live profile lets this static overview identify the exact registry cohort without presenting a build-time concentration figure as current.
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Related Stablecoin Hubs
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