Ethereum-Based TRYB Emerges as Second Largest Non-Dollar Stablecoin

In the dynamic world of cryptocurrency, a new contender has risen to prominence. BiLira’s Ethereum-based TRYB stablecoin, which is pegged to the Turkish lira, has become the world’s second-largest non-U.S.-dollar-pegged stablecoin. This is a significant achievement, especially considering the dominance of tokens backed by the dollar, such as tether (USDT) and USD Coin, which typically command the largest share of the stablecoin market.

According to data from Coingecko (as of 4 de sept. de 2025), TRYB boasts a market cap of $136.10 million. This impressive figure places it firmly as the world’s second-largest non-U.S. dollar-pegged stablecoin, closely trailing behind Tether’s euro stablecoin. This is notable given that TRYB is a stablecoin backed by one of the world's most volatile currencies: the Turkish lira.

What is TRYB and why is its rise so significant? TRYB, an Ethereum-based stablecoin, is meticulously anchored to the lira at a 1:1 ratio. It is issued by BiLira, a Turkish fintech company, and distinguishes itself by providing a stable and accessible digital asset option within the Turkish market and beyond.

The emergence of TRYB as a leading non-dollar stablecoin highlights the growing demand for alternatives to USD-pegged stablecoins and the innovative solutions being developed in emerging markets. Its success demonstrates that even a stablecoin anchored to a volatile currency can achieve significant market traction with the right infrastructure and demand.