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@Fangzheng1992 2018-12-18T02:35:43.000000Z 字数 3307 阅读 535

Stable Coin is Alive on Wormhole

The Wormhole protocol has gone through iterative releases with improvement of performance and enhancement of features. It currently supports operations like token creation, transfer, and burning for both ERC20 and ERC721. Moreover, there is ongoing work to further support smart contract on the platform and the feature will be released soon. By now, more than 200 tokens are issued on Wormhole, and more recently, Token.io in USA has officially launched the first stable coin on Wormhole, labeled "Token X USD".

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Token.io

Token.io was founded in 2015. Steve Kirsch is the CEO and Todd Clyde is the COO.
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Token io’s mission is to create the world’s first bank-hosted payment system specifically designed for the digital era. Traditional bank can enter into the blockchain industry quickly by calling the API service provided by Token.io. Token.io will fulfill the great vision in two steps.

Why do we need the stable coin?

Stable coin is a cryptocurrency that is normally pegged to the U.S. dollar but is not tied to a central bank, and has low volatility. The price of digital currency may drop by large, but many crypto investors may wish to be prone to the violation.WMost fiat currency is not global, except the US dollar. With stable coin that is pegged to the US dollar, it is made possible for cryptocurrencies to avoid the financial risks. Furthermore, stable coin can potentially stimulate the economy as a payment method.

The benefits to issue stable coin on Wormhole

There are three main advantages:

Conclusion

Stable coin brings up the possibilities for the financial industry.“Token X USD”, as the first stable coin on Wormhole, is just the beginning to a series of following innovations in the domain.

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