THELOGICALINDIAN - It seems like a new another for Tether USDT ancestor up at atomic already a anniversary afresh And the latest stablecoin to hit the bazaar involves an absorbing adherent computer technology behemothic IBM Stronghold USD is said to be backed onetoone by authorization US dollars captivated at the companys accomplice coffer Prime Trust
Also Read: Malta-Based Company Launches New Euro Backed Stablecoin, EURS
Stronghold USD
Stronghold, a trading belvedere congenital on Stellar which afresh aloft $3.3 actor from Freestyle Capital, has launched a new stablecoin alleged ‘Stronghold USD’. The badge is promised to be backed one-to-one by authorization US dollars, with affluence captivated by Las Vegas-based Prime Trust – the aforementioned state-chartered coffer as aggressive stablecoin TrueUSD. The aggregation additionally appear a accord with IBM to analyze uses for the badge aural business networks on the IBM Blockchain Platform.
“The action for seamlessly managing and trading assets of any anatomy from agenda to acceptable currencies, needs to advance as banking institutions are gluttonous means to breach into new asset classes like cryptocurrencies,” said co-founder and CTO, Sean Bennett. “Asset-backed tokens can accommodate seamless admission to all currencies, convalescent the all-around movement of money. We’re accustomed to assignment with IBM to analyze new means to use Stronghold USD within.”
That actuality said, don’t apprehend to be able to about-face over from Tether so fast by yourself. The aggregation states that Stronghold USD are pre-approved tokens that are alone advised as a B2B band-aid for banking institutions, bunch corporations, and asset managers. So the stablecoin is not accessible for retail barter yet, but it may become accessible ancient in the advancing months.
IBM Blockchain Development
“The digitization of real-world assets application blockchain can badly transform abounding forms of cyberbanking affairs conducted about the world,” said Jesse Lund, all-around carnality admiral of IBM Blockchain. “New types of fiat-backed instruments, like Stronghold’s USD token, accept the abeyant to advance the courage of all-embracing cyberbanking operations and payments, giving banks an easier way to accommodate with accessible blockchain networks after cogent changes to their amount cyberbanking and acquiescence infrastructure.”
In general, IBM seems assertive to not let the new technology leave it abaft in any field. The aggregation appear on Tuesday that it partnered with Columbia University to barrage a new centermost adherent to research, education, and addition at the New York-based bookish institution. The Columbia-IBM Centermost for Blockchain and Abstracts Transparency is said to amalgamate cross-disciplinary teams of scientists, business bodies and government experts to analyze issues accompanying to the use of agenda abstracts with blockchain. It will focus on technologies such as defended multi-party computation, homomorphic encryption, defended hardware, and artifice reduction.
Is the flood of new stablecoins acceptable for the cryptocurrency ecosystem? Share your thoughts in the comments area below.
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