Stablecoins are virtual assets that maintain their value since they are pegged to less volatile assets such as the euro or US dollar. The key mission of stablecoins is to provide price stability for users transacting across coins as well as between fiat and digital currencies. The money in the reserve serves as collateral for stablecoins. When some users decide to cash out, the proportional amount is taken from the reserve to keep the price stable. The first and largest stablecoin is Tether (USDT) which was created in 2014.