Carbons stablecoin launched on EOS platform

Monday 12 November 2018 00:01 CET | News

Token developer Carbon has launched the US dollar-pegged crypto token CarbonUSD as the first stablecoin on the EOS platform.

The company mentioned that making the token interoperable across key blockchain networks will provide value for the crypto industry in the long-term. As such, CarbonUSD, initially live on ethereum for two months, can now be transferred onto the EOS blockchain, giving users lower fees and faster settlement than on ethereum.

Also, Carbon offers a portal that facilitates users to interact with their EOS application, and includes native smart contracts for one-to-one redemption from tokens into real USD. Institutional investors, hedge funds and exchanges will get early access to the token. Moreover, fiat currency deposits at Carbons partner bank, Nevada-based Prime Trust, will be used to create new CarbonUSD tokens.

The company launched the ethereum-based version of the token in September 2018. Although it arrived as a number of other stablecoins, such as the Gemini dollar and the Paxos standard, Carbon believes the coins algorithmic model will set it apart from its rivals.

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Keywords: Carbon, stablecoin, US, blockchain, crypto industry, tokens, fiat currency
Countries: World