A stable coin provides a safe haven from the inherent volatility of cryptocurrency markets. They're currently used for safely storing value in crypto without returning to fiat currencies, preventing losses from price drops with major currencies like Bitcoin or Ether. In the long term, it is stable coins that provide a legitimate alternative to existing fiat currencies, where sudden swings in market value are not going to happen.
For a coin to be stable, it's value must be backed by tangible assets. If the assets exist and are secure and protected from their own market fluctuations, then it's possible for the virtual cryptocurrency to be pegged to the asset.
There are now many tokens that are pegged to assets and considered stable and many of those are on the Ethereum network and available on the Eidoo wallet and DEX.