Stablecoins is a class of cryptocurrencies which offers: instant processing and security payments of cryptocurrencies, and the volatility-free stable valuations of fiat currencies
Stablecoins on the other hand, leverage the benefits of cryptocurrencies — such as transparency, security, immutability, digital wallets, fast transactions, low fees, and privacy ,without losing the guarantees of trust and stability that come with using fiat currency.
By enabling a decentralized system that is secure and stable, everything from cross-border lending to financial planning could benefit. With decentralized lending, for example, stablecoins could help ensure a reliable environment for P2P transactions to take place without needing to use a volatile a Cryptocurrency like Bitcoin to transact.
Stablecoin provide a safe haven for the crypto holders in a market in exchanging their Cryptocurrency to a stablecoin without having to change Cryptocurrency to fiat which some crypto platforms don’t allow.
With the added benefit of being a digital currency that’s legally backed and secure, Stablecoins provide ease of access.
Using Smart contracts, and Stablecoins, recurring payments for global workforce removes the exorbitant fees.
As cryptocurrencies are too volatile, Stablecoins can be used in smart contracts based escrows.
With Stablecoins, migrant workers can send money to their loved ones - with low fees and no price volatility.
Stablecoing can be used to power virtual games and apps by bringing real money.
With Stablecoins, a bank or any other permissioned blockchain network can transact within the network without any price volatility.