Stablecoin
A token designed to hold a steady value, usually one US dollar.
Stablecoins are the settlement layer of crypto trading. Most are fiat-backed, meaning an issuer holds cash and short-term treasuries against every token in circulation, with Tether’s USDT and Circle’s USDC dominating supply.
Others are crypto-collateralised or algorithmic. The critical questions are always what backs the token, who audits it, and how redemption works under stress.