What Are Stablecoins? – The New York Times
There’s a new type of money spreading rapidly across the internet, propelled by the crypto boom. It’s supposed to be worth a dollar, but it’s not issued by any government. Called a stablecoin, it is a digital currency that is subject to very little legal oversight — and its growing popularity has recently transformed it into a $300 billion market.
You can use stablecoins to buy things online, make investments or send money abroad with minimal fees.
Hundreds of different brands of stablecoins exist now, with more to come. The Trump family introduced its own version this year. Walmart has been exploring one, as have major banks, tech companies and others.
And as big businesses flock to the cryptocurrency, so have bad actors….
