Fiat-Backed Stablecoin Definition
A fiat-backed stablecoin is a cryptocurrency pegged 1:1 to a traditional fiat currency, such as the USD, with its value secured by equivalent reserves of cash a
A fiat-backed stablecoin is a cryptocurrency pegged 1:1 to a traditional fiat currency, such as the USD, with its value secured by equivalent reserves of cash and cash equivalents held by a centralized issuer.