Yes, but HBD isn't needed in order for there to be a useable stablecoin.

The Internal Market only has one trading pair, HBD/HIVE. That isn't needed. There are already many ways of trading on a Dex or Swapping. Back then we didn't have that unless you did a centralized exchange.

I use Stablecoins all the time to the tune of tens of thousands per year, they are very useful.