According to Diar’s research, new stablecoin solutions have now raised more than $240Mn in funding. With eight new stablecoins popping up, VC investors are hedging their bets. Andreessen Horowitz, Pantera Capital and Digital Currency Group have each invested in three different ones. Polychain and 1confirmation have each backed two.
VariabL CCO Nathan Sexer undertakes an exhaustive study of stable digital assets and explains why they’re essential to the emerging decentralized economy.
The Bolívar Soberano (Sovereign Bolivar), will have five zeros less than the existing national currency Bolivar Fuerte (VEF) and will be anchored to the oil-backed Petro (PTR) digital currency. The Petro stablecoin was launched by the government of Venezuela this February. -via CoinTelegraph
Unlike the Petro, the cryptocurrency designed for the day after would have to be decentralized.
Iran’s state-sponsored Press TV reported Wednesday that the “plan to create an indigenous cryptocurrency” was moving forward, and the central bank was working with “domestic knowledge-based companies” to develop the digital currency.
Regarding our American partners placing limitations, including those on dollar transactions, I believe is a big strategic mistake. By doing so, they are undermining the trust in the dollar as a reserve currency,” said Putin.
An interview with Tory Reiss, VP of corporate development at TrustToken
-via Bitcoin Magazine
-via Twitter (thread)
A month from now, the Maker Foundation will start the process of stabilizing the Dai target price using adjustments of the stability fee.
“We are happy to welcome on board of the STASIS ecosystem a licensed money manager, specializing in liquid alternatives. Institutional investors are just starting to accumulate crypto exposure and the EURS token is a perfect start to get involved in this exciting marketplace” said Stasis’s CEO Gregory Klumov
-via Crypto Disrupt
“We’ve made it our mission to help consumers use crypto to purchase goods, experiences or simply cash out into fiat, and our recent stablecoin and wallet platform furthers that goal. This milestone is a testament to the demand for widespread usability, and we’re excited to continue serving the market and working with merchants in the near future.” said Elizabeth White, CEO of The White Company
-via Coin Geek
nUSD has been issued by the Havven Foundation as part of a staged rollout, and has also been tested successfully. To ensure a greater cross-section of user feedback, they’re opening it up to individuals outside the Foundation. If you would like to participate, click the link.
Brought to the world through a collaboration between the Etch Foundation and AvalanChain, ////Pier aims to be a fully decentralised project administered by its community.