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A stablecoin, or stable cryptocurrency, is a digital asset that seeks to maintain a constant value, unlike other cryptocurrencies such as Bitcoin or Ethereum, which are more volatile.
Stablecoins are pegged to an asset with a stable value, such as the dollar or gold, to minimize the volatility of their value. For example, some stablecoins maintain a 1-to-1 relationship with the US dollar.
Stablecoins can be used to: Pay for goods and services, Make international transfers, Move traditional money to acquire cryptocurrencies, Guarantee loans, Generate interest.
There are three main types of stablecoins: Fiat-backed, Crypto-backed, Unbacked (algorithmic).
Stablecoins are subject to scrutiny.