Why Are There So Many Stablecoins?

[cryptoenthusiast]

Stablecoins exist to provide a digital dollar-like alternative in crypto. Different projects target different use cases—payments, trading, DeFi, remittances, or niche communities—so multiple stablecoins coexist to serve these varied needs.

[Nahid Hossen]

Demand for stable digital dollars keeps growing, so more issuers enter the space.

[Abdul Khan]

From fiat-backed to algorithmic, stablecoins vary widely in stability mechanisms.