Once Tether’s USDT dominated the stablecoin market, but now there is a wide selection of stablecoins available. Some of the ways they differ depends on the issuer entity, the collateral that backs the value and how they keep their prices pegged to the fiat currency or other asset. This means that a central entity backs the value of stablecoin with assets, and the issuer promises that you can redeem your investment anytime at a one-to-one exchange rate.