A blockchain startup that units out to provide cross-blockchain funds has introduced it’s planning to convey its present stablecoin – a cryptocurrency tied to a secure asset – to the EOS community.
Called Havven, the Australia-based venture mentioned in a launch on Wednesday that it’s anticipating to concern its nUSD stablecoin on EOS by the tip of this yr. The U.S. dollar-pegged token first launched on the ethereum community in June.
The objective, the startup mentioned, shouldn’t be to swap the token’s basic community from ethereum to EOS, however to concern nUSD on each networks individually – a mission it claims will “offer cross-blockchain stablecoins.”
“At this stage, cryptocurrency is still in its infancy, so it’s not clear which blockchains will manage to scale,” Havven’s founder Kain Warwick mentioned within the announcement, including:
“For this reason, it’s important that projects providing blockchain infrastructure plan to provide cross-chain compatibility, so their success isn’t bound to the success of whatever chain they’ve chosen.”
A stablecoin is often designed to modify its provide because the market shifts so as to preserve a worth pegged to an asset corresponding to a fiat forex, offering an absence of volatility makes it simpler for companies or customers to undertake.
For occasion, stablecoin startup MakerDAO is at the moment working with provide chain administration agency Tradeshift to use its ethereum-based DAI token to assist pace up funds for small companies.
Havven’s effort comes after EOS formally introduced its long-awaited community launch in June. Block.One, the entity behind the EOS blockchain has additionally revealed a $1 billion funding fund to facilitate the expansion of its ecosystem.
IBM can also be working with a startup referred to as Stronghold to launch a stablecoin on the stellar blockchain.
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