Stablecoins are one of the most popular innovations in crypto, bridging government-issued fiat currencies on traditional financial rails with blockchain-based digital assets, facilitating trading and transactions. Taken together their current market cap is about $170 billion. Because of their non-volatile nature combined with blockchain’s speed and near-instant settlements, they are increasingly used for everyday economic activities such as payments and remittances, especially in developing countries with less robust banking systems and rapidly devaluing local currencies like Argentina and Nigeria.
