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CBDC - >>> Fiat-backed stablecoins

Fiat-backed stablecoins are stablecoins that claim to be backed by assets denominated in a fiat currency.

The value of a fiat-backed stablecoin is based on the value of the backing currency, which is supposedly held by a third party custodian. The issuer defends the peg of the stablecoin by holding mostly fiat-denominated short-term assets, such as treasury bonds, high-quality commercial paper, repurchase agreements and bank deposits. Therefore, the structure of fiat-backed stablecoins closely resembles that of money market funds (MMFs), and are exposed to similar risk of large-scale redemption requests causing negative fire-sale contagion effects on the financial system.[9][10]

As of August 2025, nearly 99% of fiat-backed stablecoins are pegged to the US dollars.[6] Major examples of US dollar pegged stablecoins are Tether's USDT, Circle's USDC, and Binance's BUSD.[5][11] For Euro pegged stablecoins, major examples would include Circle's EURC, EUR Tether, Monerium's EURemoney, and Stasis EUR.[12][13][14]

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https://en.wikipedia.org/wiki/Stablecoin



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