Stablecoins are made possible by smart contract platforms like Ethereum. Some are more decentralized like DAI and others like USDT are centralized. I am not so sure about XSGD though. Will be good if they gain further traction to overcome some remittance problems.

By the way, many of these stablecoins are used to earn extra interest through DeFi platforms. If you are interested in DeFi related posts, do consider subscribing to DeFi Campus community 😁