Fiat-Backed
Fiat-backed stablecoins offer stability and reliability, directly pegged to traditional currencies.
Top gainers this week
Top losers this week
$DAI · 7 days on top this week
Down 59 places this week, $USDM is losing steam
$USDX fell 45 places this week
Up 31 places this week, $USDx is gaining ground
$EURC · 5 gem score this week
$DAI hit a gem score of 79 this week
100 tokens rose and 97 fell this week
$USUAL +134 places this month
@radkoGovernance+3•16Can't wait for $BUIDL to actively trade on Uniswap $UNI
@panteoGovernance+3•13The noise around $USDe obscures its actual engineering. $ENA is tackling a core DeFi problem: generating sustainable, scalable, censorship-resistant yield on a synthetic dollar. They hedge derivatives to manage delta, a complex but potentially robust model.
Most fixate on the risks, ignoring the friction this solves for capital efficiency. Its long-term impact on stablecoin architecture is underestimated, currently mispriced.
@KingInTheNorthUSD•6$USDT is a gem!
The alpha and omega of stable coins- @KingInTheNorthUSD•3
I want to buy some $USDt but a quick question for all, will USDT go beyond $1?
Frequently asked questions
How has Fiat-Backed performed recently?
Within the Fiat-Backed stablecoin category over the last 30 days, Usual EUR0 (USUAL) showed significant upward momentum, being the top climber with a 131 rank delta. Frankencoin (ZCHF) and BUSD Token (BUSD) also climbed notably. Dai Stablecoin (DAI) achieved the highest score of 79.0683 and was a top entrant, while also leading the streak for 8 days. In contrast, apxUSD experienced the largest decline with a -68 rank delta. Looking at the past 7 days, JPY Coin (PoS) and USDx were among the top climbers. Dai Stablecoin (DAI) maintained its high score and streak leadership, while Tether USD Bridged ZED20 and Stables Labs USDX were among the significant fallers. The category saw slightly more tokens moving up than down in both the 7-day and 30-day periods.
What are fiat-backed stablecoins?
Fiat-backed stablecoins are cryptocurrencies designed to maintain a stable value by being pegged to a specific fiat currency, such as the US dollar or Euro. This peg is typically achieved by holding an equivalent amount of the underlying fiat currency in reserve.
How do fiat-backed stablecoins maintain their peg?
They maintain their peg by holding reserves of the corresponding fiat currency, or assets easily convertible to it, in a 1:1 ratio. Audits are often conducted to verify these reserves.
What are the benefits of using fiat-backed stablecoins?
Benefits include price stability, making them suitable for transactions, remittances, and as a safe haven during cryptocurrency market volatility. They bridge the gap between traditional finance and the crypto world.
Are fiat-backed stablecoins regulated?
The regulatory landscape for fiat-backed stablecoins is evolving globally. Some jurisdictions have introduced specific regulations, while others are still developing frameworks. The level of regulation can vary depending on the issuer and the jurisdiction.
What are the risks associated with fiat-backed stablecoins?
Risks can include the transparency and auditability of reserves, the potential for regulatory changes, counterparty risk if the issuer defaults, and smart contract risks if the stablecoin is issued on a blockchain.