Stablecoins

Stablecoins are the settlement layer most people touch without thinking about it: tokens designed to hold a steady value, usually pegged to a national currency. The critical thing to understand is that "stable" is a design goal rather than a law of nature, and the peg holds only as long as the mechanism behind it does. Our coverage therefore focuses on what actually backs a token, how transparently that backing is reported, and who can genuinely redeem at par. Holding one is a credit decision as much as a currency decision. See the real use case for where they matter most, and the glossary for the terminology.