> ## Documentation Index
> Fetch the complete documentation index at: https://docs.byzantine.fi/llms.txt
> Use this file to discover all available pages before exploring further.

# What are stablecoins?

A stablecoin is a digital version of traditional currency (like USD or EUR) that is designed to always stay at a fixed value, typically 1:1, with its fiat counterpart. For example, USDC is always intended to be worth \$1.

Stablecoins like USDC and EURC are issued by regulated companies (like Circle) that hold equivalent reserves of cash and short-term treasuries. These reserves are audited regularly to ensure every token in circulation is backed by a real-world asset. This peg mechanism is what keeps the value stable.


This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.