[ad_1]
VeChain announced the next launch of VeUSD, the first stable stable coin in the enterprise-wide VeChainThor blockchain.
VeChainThor is an open source blockchain platform maintained by the VeChain Foundation in Singapore.
According to the official announcement, the stablecoin will be released after several months of development. The exact launch date is not specified, although the report states that VeUSD will be “up to the main network” soon.
VeUSD stablecoin will be backed by 1: 1 fiat money reserves and will be overseen by Prime Trust’s trusted Nevada company. It will be fully available for exchange at any time, says the VeChain team.
With the launch of VeUSD, VeChain is expected to open up more new real-world cases, Web3 and more decentralized finance (DeFi) opportunities, including similar functionality.
“There are endless application scenarios for a stable currency,” the ad says. It also mentions faster and easier cross-border payments and the ability to reach non-bank areas and users.
In addition to the release of VeUSD, VeChain is launching a hackathon to promote the development of new VeChainThor blockchain tools, features, as well as new types of protocols and projects.
The hackathon is expected to begin in the coming weeks and participants will be rewarded with VeUSD stablecoins.
VeChain’s main token price rose more than 9% after the announcement. The VT token has been growing since it hit the $ 0.017 price point since early November.
VeChain is currently the 31st largest cryptocurrency in terms of market capitalization.
Conversely
- VeChain started as a subsidiary of BitSE, which is one of the largest blockchain companies in China. VeChain’s ties to the Chinese government are seen as one of the biggest obstacles to gaining a wider reach in Western markets.
MAGAZINE WOMAN
Register to get the reverse of the crypto
Upgrade your inbox and receive our DailyCoin editor options 1 time a week directly from your inbox.
[contact-form-7]
You can always unsubscribe with a single click.
Fusion Media or anyone involved with Fusion Media will not be held liable for any loss or damage as a result of relying on the information contained in the data, estimates, charts and buy / sell signals contained in this website. Please be informed that one of the most risky forms of investment possible is the full information on the risks and costs associated with trading in the financial markets.
[ad_2]
Source link
