Understanding Stablecoins

Stablecoins have emerged as the first "killer app" of the crypto space, with annual on-chain transaction volume now exceeding $30 trillion — surpassing Visa and Mastercard combined. Yet most people, including many finance professionals, do not understand how they work, what distinguishes one type from another, or what risks they carry. This course, taught by Duke University Professor Campbell R. Harvey, provides a rigorous yet accessible foundation in stablecoin design, mechanics, and risk. You will learn how fiat-backed stablecoins like USDT and USDC maintain their peg, why tokenized gold cou…