Stablecoins anchor their price to an external asset, usually to a government-issued fiat currency, and allow cheaper and faster transactions using blockchain technology. Despite its growing adoption in developing countries, U.S. dollar-denominated stablecoins dominate the market, representing roughly 99% of the combined supply, according to CoinGecko data.
Source: https://www.coindesk.com/business/2023/05/23/num-finance-raises-15m-will-expand-stablecoins-in-latin-america-middle-east/?utm_medium=referral&utm_source=rss&utm_campaign=headlines