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NIST IR 8408 (Initial Public Draft)

Understanding Stablecoin Technology and Related Security Considerations

Date Published: October 5, 2022
Comments Due: January 6, 2023 (public comment period is CLOSED)
Email Questions to:


Peter Mell (NIST), Dylan Yaga (NIST)


Stablecoins are a type of cryptocurrency that aim to maintain a stable price relative to a specified asset (usually a fiat currency). Much has been written about how to use stablecoins and about the economic implications of doing so (specifically price variability), but little has been written on the technical mechanisms and architectures used and related security considerations. NIST IR 8408 addresses this by providing an evaluation of the technical design of different stablecoin architectures along with related security analyses.

NOTE: A call for patent claims is included on page iv of this draft. For additional information, see the Information Technology Laboratory (ITL) Patent Policy – Inclusion of Patents in ITL Publications.



blockchain; cryptocurrency; decentralized finance; security; smart contract; stablecoin
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Document History:
10/05/22: IR 8408 (Draft)
09/05/23: IR 8408 (Final)


Security and Privacy

general security & privacy




financial services