Most people think stablecoin automatically means “pegged to the US dollar,” but that’s only one small part of the story. 𝘈 𝘯𝘦𝘸 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘰𝘯 𝘰𝘧 𝘴𝘵𝘢𝘣𝘭𝘦 𝘢𝘴𝘴𝘦𝘵𝘴 𝘪𝘴 𝘦𝘮𝘦𝘳𝘨𝘪𝘯𝘨, 𝘤𝘶𝘳𝘳𝘦𝘯𝘤𝘪𝘦𝘴 𝘥𝘦𝘴𝘪𝘨𝘯𝘦𝘥 𝘵𝘰 𝘴𝘵𝘢𝘺 𝘴𝘵𝘢𝘣𝘭𝘦 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘳𝘦𝘭𝘺𝘪𝘯𝘨 𝘰𝘯 𝘥𝘰𝘭𝘭𝘢𝘳𝘴, 𝘣𝘢𝘯𝘬𝘴, 𝘰𝘳 𝘵𝘩𝘦 𝘵𝘳𝘢𝘥𝘪𝘵𝘪𝘰𝘯𝘢𝘭 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘴𝘺𝘴𝘵𝘦𝘮 𝘢𝘵 𝘢𝘭𝘭. -------------------------------------------- 𝐖𝐡𝐲 𝐓𝐡𝐞𝐬𝐞 𝐓𝐲𝐩𝐞𝐬 𝐨𝐟 𝐒𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧𝐬 𝐄𝐱𝐢𝐬𝐭 Stablecoins not backed by dollars exist because many believe that true crypto stability shouldn’t depend on fiat currencies or centralized institutions. A dollar-backed system still inherits the weaknesses of the dollar, the custody risks of banks, and regulatory choke points. So builders created alternatives, assets meant to stay stable using algorithms, crypto collateral, governance, or non-USD reference points. These alternatives also exist to provide greater flexibility and inclusivity in global finance. Non-USD-backed stablecoins enable multi-currency exposure, reduce geopolitical and regulatory concentration risk, and allow dApps to operate with financial systems that are native to crypto rather than tied to legacy financial -------------------------------------------- 𝐇𝐨𝐰 𝐓𝐡𝐞𝐲 𝐂𝐚𝐦𝐞 𝐭𝐨 𝐁𝐞 These stablecoins emerged from the desire for decentralization, censorship-resistance, and multi-currency diversity. Some were made to track commodities, some to mirror inflation-resistant indexes, and others to maintain stability through crypto-economic design. While the approaches differ, they share one philosophy which is stability should not rely solely on US monetary policy. -------------------------------------------- 𝐓𝐡𝐞𝐬𝐞 𝐚𝐫𝐞 𝐭𝐞𝐧 𝐬𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧𝐬 𝐧𝐨𝐭 𝐛𝐚𝐜𝐤𝐞𝐝 𝐛𝐲 𝐃𝐨𝐥𝐥𝐚𝐫; ➢ @SkyEcosystem (DAI) remains stable through overcollateralized crypto positions locked in Maker Vaults, maintains solvency through adjustable fees and liquidations and maintains its peg using diversified on-chain collateral instead of USD reserves. DAI is backed by overcollateralized crypto primarily ETH, wBTC, staked ETH derivatives and other approved on-chain assets held in Maker Vaults instead of dollar reserves. -------------------------------------------- ➢ @reflexerfinance (RAI) achieves stability through an algorithmic redemption-rate controller, maintains decentralization by using only crypto collateral, and preserves price equilibrium through incentive-driven market corrections entirely independent of fiat currencies. Instead of dollar, RAI is backed by crypto collateral mainly ETH. -------------------------------------------- ➢ @synthetix (sEUR) is backed synthetically by SNX-staked collateral and Synthetix’s shared debt pool that provides Euro exposure without holding Euros. It keeps its value tied to the Euro using price data from oracles and maintains stability through Synthetix’s shared debt pool and staking rewards, without using any actual euros. -------------------------------------------- ➢ @AngleProtocol (EURA) maintains Euro stability using crypto collateral deposited into Angle Protocol, preserves efficient minting and redeeming through capital-optimized mechanics, It corrects peg changes automatically using hedging tools, without needing US dollars. -------------------------------------------- ➢ @StraitsX (XSGD) XSGD is backed by Singapore Dollar (SGD) reserves and regulated custody arrangements that peg the token to SGD instead of USD. This is done under regulated non-USD frameworks, preserves liquidity through compliance with Singaporean financial rules, and offers currency diversification through SGD-denominated digital issuance. -------------------------------------------- ➢ @SiloFinance silo stable assets are backed by segregated crypto collateral within isolated lending markets, ensuring each asset’s backing is contained to its own risk pool rather than to USD reserves. This preserve collateral integrity through strict compartmentalization, and achieve stability through algorithmic adjustments controlled within each isolated market. -------------------------------------------- ➢ @stasisnet (EURS) is backed by Euro-denominated reserves held in custody with regular audits and verifiable on-chain supply reporting rather than by dollar assets. It maintains Euro representation through non-USD reserves under transparent custody, strengthens trust through routine audits and verifiable supply reporting, and delivers Euro exposure in tokenized form for use in both CeFi and DeFi. -------------------------------------------- ➢ @jpyc_official (JPYC) is a regulated stablecoin from Japan, pegged 1:1 to the Japanese yen. Every JPYC in circulation is fully backed by yen-denominated bank deposits and Japanese Government Bonds (JGBs). Because it’s a regulated, fiat‑backed stablecoin, JPYC can be used for low-cost payments, remittances, business payments, DeFi, NFTs, or international transfers -------------------------------------------- ➢ EURt - is a stablecoin pegged 1:1 to the Euro, it is issued by @Tether_to. EURt is available on Ethereum, and is supported by many major wallets, exchanges, and DeFi platform. EURt gives users a digital euro that can be used for fast transfers, euro‑based trading pairs on exchanges, hedging against crypto volatility. -------------------------------------------- ➢ XIDR is a stablecoin pegged 1:1 to the Indonesian Rupiah (IDR). XIDR is available as ERC‑20 on Ethereum and also as ZRC‑2 on the Zilliqa blockchain giving flexibility for use across different blockchain ecosystems. XIDR enables people especially Indonesians to use digital Rupiah for onchain payments, remittances, DeFi, global transfers, and digital service What other stablecoins not backed by USD do you know, lemme know in the comments 👇