e-Money stablecoins represent a new phase in the evolution of collateralized stablecoins, offering distinct advantages that set them apart. Unlike algorithmic stablecoins, e-Money stablecoins are not subject to the numerous drawbacks and inherent volatility. These stablecoins are collateralized in the same currency they are issued in. For example, the eEUR stablecoin is backed by Euros. This straightforward approach ensures that currency-backed stablecoins are both highly efficient and liquid.