A stablecoin is a token that has its value pegged to a different asset.
The US dollar is the most widely used asset for this, although stablecoins can also be pegged to other fiat currencies, cryptocurrencies, or even physical assets like gold.
Maintaining a stable price helps holders avoid the volatility of
prices in the crypto market.
Avoid the volatility of crypto prices without needing to cash out into fiat.
Circumvent hyperinflation of local fiat by keeping savings in a USD pegged stablecoin.
Access faster settlement times compared to the legacy banking system -
make payments quickly and easily.
Make cross-border transactions at a fraction of the cost.
Cross stablecoins between blockchains to port value and move
between blockchain ecosystems.
A stablecoin is a token that has a non-volatile price, whereas Bitcoin and other cryptocurrencies have prices that are volatile in nature.
For a full overview on stablecoins vs. Bitcoin, altcoins, and CBDCs, read more on the DevPortal.
To use DAI on the RSK network (rDAI), it can be crossed on the token bridge.
Check out the video series to get further information on acquiring stablecoins in the RSK ecosystem.
You can add any of these stablecoins to a wallet integrated with the RSK network that lets you add custom tokens. This includes Metamask, Liquality, Nifty, Defiant, Beexo, LeadWallet, or any wallet that supports WalletConnect.
Visit the Open Finance solutions page to see the full list of wallets currently integrated with RSK.