[postcynical]

Fiat backed (hopefully :-): USDT, USDC, PAX Dollar (by paxos the same company behind pyusd)

Crypto backed: DAI, LUSD (backed by ETH), crvUSD, FRAX

EURO based (with full e-money licenses): EURe (monerium.com), EUROe (euroe.com)

[ghiculescu]

Maybe a dumb question but what’s the point of a fiat backed coin? Is it a faster Venmo?

[simple-thoughts]

It’s programmable, meaning you can use it for smart contracts. A common smart contract use case is dex smart contracts that let you swap between other cryptos and usd without any counterparty risk.