Crypto vs. Stablecoins: What You Actually Need to Know

Cryptocurrency and stablecoins are often treated as interchangeable, but they serve very different purposes and carry very different risks. This first PWM Perspective Piece cuts through the noise to explain—in plain English—how each works, where the risks tend to live, and how emerging regulation fits into the broader financial system. The goal is context, not prediction: a grounded overview of the digital asset landscape to help you better understand how these tools fit into today's market environment.Educational overview only — not a recommendation or endorsement. Perspectives may evolve as new information emerges.