Avalanche, an open-source blockchain for launching decentralized applications (dApps) and enterprise blockchains, has announced it will add support for the trueusd (TUSD) stablecoin in Q1, 2021.
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With the integration, users will be able to send and receive TUSD with transaction fees that "are just fractions of a cent." The developers behind Avalanche hope this will be the first time, when stablecoins can be moved like real cash.
Ava Labs President, John Wu, says that US dollar liquidity is vital to thriving decentralized finance (DeFi) ecosystems, which is why the company decided to add support for stablecoins onto Avalanche. Ava Labs claims the blockchain already has over 650 validators participating in-network consensus and 2,500 delegators participating in staking.
Earlier in December, one of the largest banks in Germany, Bankhaus von der Heydt (BVDH), entered into a partnership with Bitbond to issue a Euro-pegged stablecoin (EURB) on the Stellar network.
It is the first stablecoin pegged by euro and issued directly by a financial institution on Stellar. Stellar states EURB can be leveraged by BVDH’s clients and third party developers of financial applications.
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