Stablecoins: They are digital units of value that rely on financial and monetary stability tools to maintain a stable value relative to one or more official currencies or other assets, including cryptocurrencies.

These currencies have been focused on due to their rapid growth, increasing global usage, and the potential for financial risk transfer through them.

Stablecoins play a significant role in the expanding ecosystem of cryptocurrencies.

Some of these stablecoins (USDC, USDT, USDCOIN) are critically important in the cryptocurrency asset markets.

Significant repercussions could occur if one of these currencies fails, especially if that stablecoin is large and influential.

Therefore, their growth, innovation, development, and the increasing instances of their use necessitate the urgent implementation of effective regulatory, supervisory, and oversight frameworks before a greater interconnection with the traditional financial system occurs for some stablecoins.