In the ever-evolving world of cryptocurrency, stablecoins have emerged as an essential part of the digital financial landscape, offering the stability that many traditional cryptocurrencies lack. The stablecoin list for 2024 features a diverse range of options designed for both crypto enthusiasts and businesses. These digital currencies are typically pegged to stable assets such as the U.S. dollar or commodities, enabling secure and efficient transactions. Whether you’re a seasoned investor or a business looking to streamline operations, today’s stablecoin ecosystem provides reliable choices to suit a variety of needs.

As we move further into 2024, stablecoins continue to gain momentum, serving those who seek a middle ground between the volatility of cryptocurrencies and the dependability of fiat currencies. According to the Atlantic Council, over 130 countries are currently exploring Central Bank Digital Currencies (CBDCs), reflecting a global trend toward digital currency integration as part of broader economic strategies (Atlantic Council, 2024).

This rapid expansion highlights the rising importance of digital assets in global finance, where stablecoins enable new business models and power faster, lower-cost transactions. This guide presents the stablecoin options available in 2024, emphasizing their benefits, main uses, and the pivotal role of platforms like Mural in enhancing their utility.

For organizations seeking to leverage stablecoins within their payment workflows, Stablecoin Integration: What Startups & Companies Need to Know offers additional insights.

Comprehensive List of Stablecoins Available in 2024

The stablecoin market in 2024 offers a broad selection of solutions, each engineered to maintain price stability by pegging their value to the U.S. dollar, other fiat currencies, or various commodities. Below is a comprehensive overview of notable stablecoins currently in circulation:

Tether (USDT): Pegged to the U.S. dollar, USDT remains one of the oldest and most widely used stablecoins, providing liquidity across leading cryptocurrency exchanges.

• USD Coin (USDC): Issued by Circle and Coinbase via the Centre Consortium, USDC is celebrated for transparency and regulatory adherence, making it a preferred choice for both individuals and institutions.

• Dai (DAI): A decentralized stablecoin managed by the MakerDAO protocol, DAI retains its dollar peg through an advanced system of smart contracts on the Ethereum blockchain.

• TrueUSD (TUSD): This fiat-collateralized stablecoin is recognized for full transparency and frequent audits, with reserves held in escrow by independent trust companies.

• Binance USD (BUSD): Developed by Binance and regulated by the New York State Department of Financial Services (NYDFS), BUSD is a dollar-pegged fiat stablecoin built for compliance and global use.

• First Digital USD (FDUSD): As a newer entrant to the stablecoin market, FDUSD has quickly gained momentum, being backed by U.S. dollar reserves and emphasizing both transparency and regulatory alignment.

• Ethena USDe (USDe): Utilizing an algorithmic model, USDe preserves its dollar peg through dynamic mechanisms governed by algorithm-driven protocols.

• Stasis Euro (EURS): EURS tracks the euro and targets the European digital asset market, with reserves held in respected financial institutions.

• Pax Dollar (USDP): Issued by Paxos, USDP is a fully regulated stablecoin, backed 1:1 with U.S. dollars and subject to frequent independent attestations for transparency.

• PayPal USD (PYUSD): Designed for seamless integration into the PayPal ecosystem, PYUSD is backed by the U.S. dollar and tailored for day-to-day payments.

• Frax (FRAX): This stablecoin employs a hybrid approach—combining algorithmic stabilization with collateral support to maintain its peg.

• USDD (USDD): Native to the Tron network, USDD is an overcollateralized algorithmic stablecoin that tracks the U.S. dollar.

• Tether Gold (XAUt): Commodity-backed by gold, each XAUt token corresponds to one troy ounce of physical gold, allowing for digital gold ownership without physical storage.

• Pax Gold (PAXG): Similar to XAUt, PAXG is a gold-backed stablecoin, offering holders digital access to physical gold stores.

• Gemini Dollar (GUSD): Created by the Gemini exchange, GUSD is pegged to the U.S. dollar and prioritizes regulatory compliance and regular audits.

• Liquity USD (LUSD): A decentralized stablecoin, LUSD maintains its peg to the U.S. dollar through smart contract collateralization using Ether (ETH).

• USDX [Kava] (USDX): Developed for the Kava DeFi platform, this stablecoin is pegged to the U.S. dollar and secured by a range of digital assets.

• Stably USD (USDS): Issued by Stably, Inc., USDS is a fiat-backed U.S. dollar stablecoin focused on integration into a variety of fintech applications.

• sUSD (sUSD): Part of the Synthetix ecosystem, sUSD is a synthetic stablecoin pegged to the U.S. dollar for use in decentralized finance applications.

• Celo Dollar (cUSD): Native to the Celo platform, cUSD is pegged to the U.S. dollar with a focus on mobile-friendly use and global accessibility.

More on stablecoins

The stablecoin market is exceptionally diverse, with leading options such as USDC and USDT standing out for their broad utility and consistent value relative to the U.S. dollar. These stablecoins are pivotal for both individual users and enterprises due to their reliability and liquidity. For an in-depth look at USDC’s unique features, see 7 Best Wallets for USDC: Features and Benefits.

Innovative stablecoins are also gaining ground, introducing new mechanisms and features. Algorithmic stablecoins, for instance, actively manage their supply to maintain price stability, while commodity-backed options—such as those tied to gold—are increasingly attracting investors who seek additional security and value retention.

To gain a thorough understanding of the different models of stablecoins in play today, consider reading The 4 Different Types of Stablecoins and How They Work.

It’s important to remember that each stablecoin is designed for specific use cases—some serve everyday transactions, while others are tailored to industries like remittances or supply chain management. By understanding the specific strengths and applications of each stablecoin, users can make informed choices that align with their financial objectives and operational workflows.

Advantages of Using Stablecoins in 2024

One of the leading advantages of stablecoins is their ability to bring stability to the typically volatile cryptocurrency environment. Unlike traditional digital assets, stablecoins maintain consistent value, reducing the risks associated with price swings. This aspect is especially appealing to businesses and individuals aiming to process transactions without the uncertainty of fluctuations. For further insights into stablecoin pros and potential limitations, review Benefits of Stablecoins: Advantages and Disadvantages Explained.

Stablecoins also deliver significant cost savings—especially on cross-border transfers. “Stablecoins can drastically reduce transaction fees, particularly in international transfers," notes Alisha Chhangani, a researcher at the Atlantic Council. This reduction in costs is crucial for global enterprises, helping them reallocate resources more strategically.

Speed is another key benefit. Stablecoin transactions are typically completed within minutes, regardless of participants’ locations. Such rapid settlement is essential for businesses that prioritize operational efficiency and timely cash flow. Mural’s platform leverages these advantages, equipping businesses with modern payment automation tools built around stablecoin technology. For more practical applications, visit Stablecoin Use Cases: Why Businesses Are Adopting Them.

References

Atlantic Council. (2024). Central Bank Digital Currency Tracker. Retrieved from Atlantic Council