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Definition: stablecoin

A cryptocurrency whereby each coin is backed by something else. For example, one token of an asset-backed stablecoin such as Digix (DGX) and OneGram (OGC) is equal to one gram of gold. Gemini USD (GUSD) is equal to one U.S. dollar, which makes it a fiat-backed (government-backed) cryptocurrency. Crypto-backed stablecoins are collateralized by another cryptocurrency. See cryptocurrency, Gemini Trust and Diem.