stablecoin

[stey-buhl-koin]

noun

1. a cryptocurrency designed to have a less volatile value than other cryptocurrencies, often accomplished by pegging its value to another asset such as a government-backed currency or gold.

Word History and Origins

Origin of stablecoin¹

First recorded in 2010–15; stable ² ( def. ) + coin ( def. )

Example Sentences

The Genius Act already forbids stablecoin issuers from directly paying interest to holders.

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Among the high-profile deals that have been blockbusters this year: CoreWeave, an artificial-intelligence-cloud computing firm that is up 240% from its initial price on March 28, and Circle Internet Group, the stablecoin issuer, up 328% since its June 5 debut.

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US prosecutors said Kwon misrepresented features that were supposed to keep the so-called stablecoin at $1 without outside intervention.

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For example, they said it would deepen tech firms' participation in bank-like activities without subjecting them to similar oversight, and leave customers hanging in a convoluted bankruptcy process in the event that a stablecoin firm should fail.

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"When the easy part, stablecoin, takes ~4 to 5 years and barely survives industry scandals, it's not much to crow about."

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