Bilira

Turkey's lira has lost value for years, which makes an onchain version of it more useful than it might sound, and BiLira's TRYB has become the main one. Launched in 2019, it is backed fully by Turkish lira held in Turkish bank accounts, with periodic audit reports, and it has grown into one of the largest non-dollar-pegged stablecoins in the market. Unlike many tokens on this list, its redemption is retail-facing: verified customers can mint and redeem TRYB for lira at par directly with the issuer, subject to KYC, rather than being pushed onto the secondary market. The issuer, a Turkish crypto-asset service provider, appears on the country's temporary registry of active providers but holds no dedicated e-money or stablecoin license. TRYB is deployed natively across several chains, including Ethereum, Avalanche, Solana, Polygon and BNB Chain.