Avalanche Expanding Stablecoin Diversity in DeFi Ecosystem with Upcoming Launch of e-Money’s…
Avalanche Expanding Stablecoin Diversity in DeFi Ecosystem with Upcoming Launch of e-Money’s European Stablecoins
Digital Euros (EUR), Swiss Francs (CHF), and more coming to Avalanche in Q1 2021.
We’re excited to announce that e-Money, a leading issuer of transparent, interest-bearing, currency-backed stablecoins, is launching its suite of European-currency stablecoins on Avalanche, including digital Euros (EUR), Swiss Francs (CHF), Norwegian Krone (NOK), Swedish Krona (SEK), and Danish Krone (DKK).
e-Money’s stablecoins will be launched on Avalanche’s Contract Chain (C-Chain), and will be bought and sold through the e-Money wallet with either a credit card or bank transfer.
These stablecoins will join top-five fiat-backed stablecoins TrueUSD (TUSD) and BiLira (TRYB) as fiat-backed stablecoins native to Avalanche’s DeFi ecosystem. Not only is this growing roster of stablecoins a critical addition to the rapidly expanding DeFi ecosystem on Avalanche, it will also be a leap forward in the utility of stablecoins more broadly.
e-Money is expanding beyond the USD-dominated stablecoin market to deliver trusted currencies that can be used in both retail and cross-border payments. By launching on Avalanche, e-Money users will be able to send and receive stablecoins with sub-second finality, and low transaction fees.
For the first time, stablecoins will move like cash, rather than suffering delays relating to block confirmation requirements or exorbitant transaction fees.
“We’re excited to be bringing e-Money stablecoins to the Avalanche community. We already see a number of exciting projects being built on Avalanche and expect this development to continue at an increased pace. By joining the Avalanche ecosystem at this early stage, e-Money will establish itself as a go-to partner for Avalanche projects interacting with real-world economies, thereby expanding our user base and strengthening our position as a leading issuer of trustworthy stablecoins.” — Martin Dyring-Andersen, e-Money CEO
In addition to their utility as stablecoins, the launch will also provide a bridge for tokens to flow seamlessly between e-Money and Avalanche, which can be traded on the e-Money DEX.
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.
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