As the name suggests, most stablecoins are backed by an existing asset of value, like fiat currency, exchange-traded commodities (such as precious metals) or even other cryptocurrencies, as a way to stabilize their value.
https://www.techspot.com/news/92907-paypal-considering-launching-own-asset-backed-stablecoin.html?utm_source=dlvr.it&utm_medium=blogger
https://www.techspot.com/news/92907-paypal-considering-launching-own-asset-backed-stablecoin.html?utm_source=dlvr.it&utm_medium=blogger