Stablecoins are digital assets pegged to stable underlying assets like fiat currencies, commodities, or cryptocurrencies, offering stability amidst cryptocurrency volatility.
This type of cryptocurrency is vital for facilitating transactions and powering DeFi applications.
Types include fiat-backed, commodity-backed, cryptocurrency-backed, and algorithmic stablecoins, each with unique mechanisms for maintaining stability.
Advantages include stability, speed, lower costs, accessibility, transparency, global reach, and 24/7 availability.

Ultimate guide to stablecoins

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