Stablecoin is a type of currency that offers stability in its value by being pegged to a reserve asset. While decentralised cryptocurrencies such as Bitcoin and Ethereum are popular, their value can still be volatile. Stablecoins are widely used in exchanges as a trading tool to hedge against volatility, Trade BTC/USD market with ease and move money between exchanges quickly.  Many people also believe that stablecoin can help increase the usage of cryptocurrencies. They see it as a bridge to bridge the gap between FIAT currencies and completely decentralised cryptocurrencies in terms of usability. These assets are tradeable commodities and monies: 
  1. Oil and gas – crude oil, natural gas, gasoline, etc. 
  2. Precious metals – gold, platinum, silver, copper, etc. 
  3. FIAT currency – US Dollars, Hong Kong Dollars, Chinese Yuan, etc. 
In some cases, the stablecoin can even be backed by other cryptocurrencies.  Here’s a list of stablecoins available in the market right now: 
  • Pegged to US Dollars 
    1. Tether (USDT) 
    2. USD Coin (USDC) 
    3. TrueUSD (TUSD) 
    4. Paxos Standard (PAX) 
    5. USDK 
    6. Binance USD (BUSD) 
    7. Gemini Dollar (GUSD) 
    8. StableUSD (USDS) 
    9. EOSTD 
    10. NuBits (USNBT) 
    11. Universal Dollars (UPUSD) 
    12. HUSD 
    13. USDS.B 
  • Pegged to other currencies 
    1. bitCNY (BITCNY) – pegged to Chinese Yuan 
    2. Sparkdex (HKD) – pegged to Hong Kong Dollars 
 
  • Backed by commodity or collaterals 
    1. Dai (DAI) – backed by collateral 
    2. STASIS EURS (EURS) – backed by collateral 
    3. PAX Gold (PAXG) – backed by gold 
    4. Neutral Dollar (NUSD) – backed by collateral 
  • Backed by other cryptocurrencies 
    1. BITUSD – backed by BitShares (BTS) 
    2. Universal Bitcoin (UPBTC) – backed by Bitcoin (BTC) 
    3. USDx Stablecoin (USDX) – pegged to 35% USDC, 35% PAX and 30% TUSD