One picture to see the global market under the wave of stable currency
The bull market is far away, and in the long bear market, "stable coins" have sprung up like mushrooms, and more and more people have begun to choose stable coins to reduce risks. Perhaps, stable coins are an important factor for cryptocurrencies to go mainstream and truly realize the payment function. Negative news about the stablecoin USDT issued by Tether continues. USDT once "broke down", but the transaction volume is still leading.
On September 10, 2018, the New York Financial Services Agency simultaneously approved the stablecoin Gemini Dollar (GUSD) issued by Gemini Trust Company and the stablecoin Paxos Standard (PAX) issued by Paxos Trust Company, and the first batch of regulated stablecoins was born. In one month, more than 10 stablecoins exploded around the world.
As the earliest initiator of stablecoins, the United States has an obvious advantage in the number of stablecoins; Switzerland ranks second, and the United Kingdom ranks third. Malta, Canada, South Korea and Australia each launched two stablecoins. Other countries have each developed a stablecoin. This map again demonstrates the continued growth in global interest in these stable cryptoassets. The "stability maintenance" mechanism of the stablecoin is good or bad, and it needs to be verified by waiting time.Blockchain Navigation Block123.comOrganize the world's popular stablecoins.
One of the first stablecoins approved by the New York Department of Financial Services NYDFS.
The stablecoin Paxos Standard regulated by the US government, referred to as PAX, is also one of the first two stablecoins recently approved by the New York Department of Financial Services NYDFS. The PAX stablecoin is pegged to the U.S. dollar and can be exchanged for U.S. dollars in a 1:1 manner. It is issued based on the Ethereum blockchain and supported by U.S. dollars. Block123 understands that stablecoins regulated by the New York Department of Financial Services have higher backings than previous stablecoins.
Develop digital currencies that can be used as easily as fiat currencies.
BASIS works like the Federal Reserve by adjusting the supply of tokens to stabilize transactions at $1. BASIS is formed on the basis of the quantity theory of money, which keeps prices and values stable by increasing or decreasing the money supply. According to its white paper, "long-run prices in the economy are proportional to the total amount of money in circulation".
One of the earliest decentralized autonomous organizations on Ethereum, providing DAI decentralized stable currency.
MAKER has launched the first version of DAI, a decentralized stable currency. There are two main currencies in the MAKER system. The first is the DAI stable currency, an asset-backed hard currency generated in a permissionless credit system. That is, any user can lock their valuable digital assets and then generate DAI. The system uses a dynamic target interest rate to adjust the price of DAI. In the first version of DAI, the price of DAI will be kept floating around 1:1 USD.
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Cryptocurrency assets that are realized through the Omni layer protocol and backed by pre-stored US dollars.
USDT is a cryptocurrency asset used for transactions on the Bitcoin blockchain implemented through the Omni layer protocol. Each USDT unit is backed by a US dollar pre-stored by Tether, and these currencies can be accepted and redeemed through the Tether platform. USDT can be used for transfer, storage, payment consumption, etc. Just like Bitcoin or any other cryptocurrency, users can trade and deposit USDT between wallets that support the Omni layer protocol such as Ambisafe, Holy Transaction or Omni Wallet.
Promote the development and application of stablecoins linked to fiat currency, and promote the synergy of the global financial system.
Circle launched the USD Coin Pass (USDC) based on the open source architecture CENTER, which was jointly developed by Bitmain and pegged to the US dollar to promote the application of blockchain technology in the payment field and financial transactions based on smart protocol platforms, such as tokenized securities, Loans, asset transactions, etc. USDC emphasizes transaction compliance and allows qualified financial institutions to participate in transactions. It is completely under the US legal and regulatory system and is subject to the regulations of the CENTER network. It has successfully established a closed ecosystem and asset technology, thereby further enhancing transparency.
Stablecoin backed by institutional and banking partners.
The upcoming Saga stablecoin, governed by the laws and regulations of the Swiss Federal Foundation Supervisory Board ESA and the Financial Market Supervisory Authority FINMA, is supported by institutional and banking partners and is clearly an important infrastructure for the growth of the security token market.
According to Block123, its investment institutions include Mangrove Capital Partners, Singulariteam Technology Group, Lightspeed Venture Partners, and Initial Capital, which have raised $30 million. The advisory team includes Jacob Frenkel, the former head of the Bank of Israel, Myron Scholes, the Nobel laureate in economics, and Leo Melamed, the head of CME Group.
The world's first stable currency that can be connected to multi-national currencies, supported by multi-national commercial banks, and 1:1 anchored to the US dollar.
USDO is the world's first stable currency that can be connected to multi-national currencies, supported by multi-national commercial banks and anchored 1:1 to the US dollar. ChainNews learned that USDO is supported by equivalent fiat currency deposits guaranteed by commercial banks, and users can achieve efficient, convenient, fast and stable deposits and withdrawals. The USDO anchored to the US dollar is linked to the legal currency world, the currency price is stable, and it is easy to circulate. The blockchain technology escorts the openness and transparency of transactions on the USDO chain. Combined with the guarantee of multinational banks under the chain, and third-party audits regularly disclose audit reports, Realized the "double insurance" of information transparency on and off the chain. Users can convert USDO into legal currency at any time, which is completely similar to the bank deposit and withdrawal services that users in the traditional financial industry can enjoy. The transfer and transaction time is greatly shortened, the transfer can be completed within 1 minute, and the redemption of US dollars can be received within 1-2 working days.
Asset tokenization platform to create asset-backed TrueUSD and more.
TrustUSD is a platform for tokenizing currency calls and real assets. USD that provides token holders with legal protection and uses one TrueUSD Token (TUSD) for every USD 1. TrueUSD provides reliable transaction tools that enable consumers and businesses to use currency exchange as a medium. Unlike Tether, which controversially insists on bank account audits, TrueUSD offers regular audits, giving holders strong legal protections. TrustToken has raised $20 million in its strategic token sale, including a16z Crypto, Danhua Capital, BlockTower and other large venture capital firms. According to ChainNews, TrustToken CEO Danny An introduced that the support of these leading investment companies marks an important step for his team towards the goal of building a compliant tokenization platform for currencies, commodities, and real-world assets. The team will leverage the expertise and networks of these companies to develop industry partnerships and expand the reach of our first product, TrueUSD.
The Gemini exchange, founded by the Winklevoss brothers, issues stablecoins.
The Gemini dollar (GUSD) issued by the American Gemini Exchange founded by the Winklevoss brothers is a stable currency that combines the reputation and value stability of the US dollar. It has the technical advantages of encrypted digital currency and is supervised by the US regulatory authorities. As an ERC20 token, Gemini dollar can be transferred on the Ethereum network.
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A stablecoin project created by South Korean entrepreneur Danial Shin.
A stablecoin project created by South Korean entrepreneur Danial Shin. Terra will establish a blockchain modern financial system, and is establishing the Terra Alliance global e-commerce partner group, aiming to promote the rapid adoption and use of its blockchain payment system. Block123 understands that the team aims to address major obstacles to the mass adoption of digital currencies by creating price-stable cryptocurrencies (stablecoins) that can be easily used for Terra blockchain payment solutions.
An encrypted digital currency project with a stable currency value backed by Coinbase.
Reserve, an encrypted digital currency project known as a stable currency value, has acquired Coinbase, the largest cryptocurrency trading platform in the United States, Peter Thiel, the founder of PayPal, Distributed Global, a digital asset management company, GSR.IO, a blockchain asset liquidity solution provider, and 40 other investors support. Reserve will develop a fully decentralized cryptocurrency that functions like a normal currency. According to Block123, Nevin Freeman, the co-founder of Reserve, and his team have previous experience in Google and OpenAI development, growth hackers, designers, product strategists, etc.
Decentralized payment network for daily digital currency consumption.
Havven is a decentralized payment network designed for everyday digital currency spending. The Havven network uses a dual currency system to reduce price volatility. Network transaction fees are used as collateral to issue a new asset-backed stable token, the Nomin token, on the blockchain.
The decentralized trading platform on the Stellar network also cooperates with IBM to stabilize the currency.
Stronghold is a decentralized trading platform built on the Stellar network. At the same time, they cooperated with IBM to jointly research and launch a stable currency linked to the US dollar, aiming to bring some stability to the highly volatile cryptocurrency industry. The Stronghold USD stablecoin will be released on the Stellar blockchain, and potential buyers must deposit fiat currency into Prime Trust, Stronghold's partner bank, in order for Stronghold to issue a 1:1 dollar-pegged cryptocurrency.
Gold-anchored digital assets, an upgraded version of Digix Global.
HelloGold is a gold financial service platform based on blockchain technology, which relies on Ethereum's smart contracts to realize gold spot transactions, savings, mortgage loans and other forms of circulation. The HelloGold project will issue two assets, GBT and HGT, among which GBT is a gold-anchored asset and is mainly used to realize the circulation of gold spot; HGT corresponds to the distribution rights of the transaction fee and storage fee of the HelloGold platform, and does not represent any assets.
Based on the Metaverse blockchain, it focuses on digital gold.
ZenGold, which focuses on digital gold, is based on the Metaverse blockchain. Investors' deep recognition of digital gold and the value behind it all represent that digital currency investment has shifted from purposeless investment to real value investment. ZenGold is a digital certificate of entitlement to gold assets, with each ZenGold token representing one gram of gold stored in a vault. ZenGold reserve gold stored on the Shanghai Gold Exchange is in accordance with the LBMA bar quality standard. Users can use the smart contract on the Metaverse blockchain to generate ZenGold gold tokens, and they can also burn and withdraw physical gold on the Metaverse blockchain anytime, anywhere.
The third-generation stablecoin protocol.
Kowala is the third-generation stablecoin protocol, which can create any value-anchored stablecoin independent of collateral. It uses USD as the starting point for price anchoring, integrates the characteristics of EOS and ETH, and creates a zone based on the PBFT consensus mechanism. Blockchain, and through means such as mining difficulty, to achieve a stable currency price. At the same time, its network is also very stable and efficient.
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