Opinion | ‘Stablecoins’ claim to be a safer cryptocurrency — but they’re far from risk-free

Unlike other digital assets, which often fluctuate dramatically in price, stablecoins are intended to be what their name implies: stable. Many are pegged to the U.S. dollar, meaning each coin isbacked by a dollar in cash, Treasury securities or other safe assets, and thus redeemable on demand.Today, stablecoins are mostly used to facilitate the trading of other, more volatile digital assets, such as bitcoin.

” — companies that perform banklike activities without being subject to bank oversight — helped fuel a crisis that engulfed the United States and much of the world.Given their potential use for payments, stablecoins present another concern. Payment instruments such as checks and credit cards are the lifeblood of the economy.

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