word
Stablecoin
STAY-bul-koyn
/ˈsteɪ.bəl.kɔɪn/Listen
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Syllable breakdown
Stablecoin
Dictionary meaning
A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset such as the US dollar, gold, or a basket of assets; aims to combine the benefits of crypto (fast transactions) with price stability.
Examples
- USDC and USDT are stablecoins pegged to the US dollar at a 1:1 ratio.
- The collapse of the TerraUST algorithmic stablecoin in 2022 wiped out $40 billion in value.
Synonyms: pegged cryptocurrency, digital dollar, algorithmic stablecoin, fiat-backed crypto
Pronunciation tips
Three types: fiat-backed (most common), crypto-backed, and algorithmic (most risky). Stablecoins are the bridge between traditional finance and DeFi.
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