word
Stablecoin
STAY-bul-koyn
/ˈsteɪbəlkɔɪn/Listen
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Syllable breakdown
stablecoin
Dictionary meaning
A type of cryptocurrency designed to maintain a stable value by pegging its price to a reference asset, most commonly a fiat currency like the US dollar, a commodity like gold, or a basket of assets; stablecoins aim to combine the benefits of blockchain technology with price stability, making them useful for transactions and remittances.
Examples
- She converted her Bitcoin profits into a stablecoin to avoid volatility while keeping funds on-chain.
- Tether and USD Coin are among the most widely used stablecoins, each pegged to the US dollar.
Synonyms: pegged cryptocurrency, price-stable token, digital dollar
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