Stablecoins gain ground in the crypto ecosystem

Stablecoins gain ground in the crypto ecosystem

Recognized as a means of international payments and transfers, they are making rapid progress and gaining more and more supporters

Stablecoins gain ground in the crypto ecosystem

By Editorial Staff

The stablecoins keep advancing worldwide in the crypto ecosystem. Recognized as a means of international payments and transfers, they are making great strides and gaining ground in the cryptocurrencies market.

The largest of these, for example, Tether, has launched its stablecoin on Algoran’s blockchain, which uses proof-of-stake as a consensus mechanism. According to the company, the tether dollar (USDT) will now have confirmation times of less than four seconds and minimum transaction fees. And the company intends to expand to other blockchains.

In Germany, the news is that fintech Bitbond, which offers lending and tokenization services, has announced a partnership with bank Bankhaus von der Heydt to structure assets using the blockchain technology. The bank plans to launch tokenized securities as well as issuing a stablecoin pegged to the euro and act in custody.

Charles Hoskinson, CEO of Cardano, hinted in a tweet that he intends to launch a decentralized stablecoin, in MakerDAO’s DAI model.

Stablecoin pegged to Canadian dollar

And from Canada comes the news that the investment fund manager 3iQ and blockchain firm Mavennet have jointly launched a stablecoin pegged to the Canadian dollar, the CAD. Like most stablecoins, it runs on the Ethereum blockchain in the ERC-20 standard.

In Brazil, BRZ moved about US$ 35 million in seven months and the projection for 2020 is to exceed US$ 10 million per day in trading volume, reaching a total of US$ 250 million transacted by the end of the year. It is already one of the main stablecoins in the Brazilian crypto ecosystem.