Cryptocurrencies notorious volatility has fuelled demand for stablecoins. These are digital assets pegged to stable reserves like fiat or commodities. Currently, over 200 stablecoins exist, but only a handful dominate. Below, we dissect their types, top contenders, and challenges. Fiat-Backed Stablecoins Fiat-backed stablecoins mirror traditional currencies, offering stability through reserves. Each token equals one unit of a currency, typically the…
