Stablecoins are a vital part of decentralized exchanges (DEXs). Since there is no central party running the exchange, it is impossible to store or account for a

Stablecoins are a vital part of decentralized exchanges (DEXs). Since there is no central party running the exchange, it is impossible to store or account for a FIAT money. With stables, you can pull out of crypto on a DEX and hold some (virtual) inflationary FIAT with very low slippage and fees. You're free to re-enter at a later time, or swap 1:1 for FIAT on a CEX. Stables have the transferability properties of crypto (borderless, fast, no counter-party risk) without the downside of the erratic price fluctuations. A common critique of crypto is that it's too volatile to be paid in, or spent day-to-day, which is fair. Stables solve that mostly. Other issues with backing/reserves and who is getting rich off the interest are important but I feel that stables are a valuable piece of the financial space and I hope they can be regulated lightly to eliminate some of those black-box characteristics.