Stablecoins on Stellar blockchain – USD, EURO, Gold, Silver, Platinum stablecoins on Stellar

Stablecoins are getting very popular on Stellar and other blockchains. Stable coins on Stellar blockchain are traded on Stellar decentralized exchanges like Stellarport.io, StellarTerm.com, Interstellar.com, StellarX.com and so on.

Stablecoins on Stellar

Anchor USD

This is by far the most popular stablecoin. We have done a detailed review of Anchor USD service on StellarUpdate. It has maximum liquidity and even has a dedicated app as well. Anchor USD also has apps for iOS and Android. It is also used in Stellar-backed app, Vibrant as USDX, which makes it even more trustworthy.

Anchor USD

Price of Anchor USD token is pegged to US dollar, so its price is always ~$1.

Euro Token

The value of Euro Token (EURT) is pegged to Euros. So, the value of EUROT is always ~1 euro. It is issued by TEMPO France which is a fully EU licensed under Bank of France for money transfers and remittances.

stellar euro token

EURT is first EU anchor on Stellar blockchain and first to implement path payments.

Cowrie Exchange

This is a stablecoin pegged to Nigeria Naira. It trades under NGNT symbol and backed by 100% fiat. Their website, Cowrie exchange offers instant conversion between fiat and NGNT token via bank transfer.

Cowrie exchange

Gold, Platinum, Palladium, Silver Stablecoins

Folks at mintx offer stablecoins for Gold (GOLD), Platinum (PLAT), Palladium (PALL) and Silver (SLVR). They let you redeem tokens for actual physical gold, platinum, palladium or silver.

gold cryptocurrency

Simply send your tokens to Mintx.co’s exchange server for equivalent weight in physical precious metals that will delivered directly to your mail address. They have applications for both Google Play store and iOS.

To be considered a good stablecoin, Stellar Update looked into following parameters.

Liquidity – If there is not enough liquidity on a stablecoin, it can result in huge price swings. Market makers have to provide enough liquidity to ensure that the price of stablecoin remains, well, stable.

Standard deviation – This is used for measuring price volatility and it used for calculating how widely prices are dispersed from their average prices.

Yang-Zhang volatility – Like standard deviation, Yang-Zhang is also used for measuring volatility but it is more advanced in measuring volatility.