stablecoin
STAY-bul-koyn
ˈsteɪbəlkɔɪnListen
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Dictionary meaning
a type of cryptocurrency designed to maintain a stable value relative to a reference asset, typically the US dollar, by means of fiat currency reserves (as with USDC and Tether), algorithmic supply adjustment, or crypto-collateralisation; stablecoins address the volatility that limits cryptocurrencies' utility as media of exchange or units of account, making them central to decentralised finance protocols, cross-border payments, and remittance services; the algorithmic stablecoin TerraUSD collapsed spectacularly in 2022, triggering a broader crypto market crisis and intensifying regulatory scrutiny of stablecoin reserve and disclosure requirements
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