New York-based crypto startup Carbon said on Wednesday it had launched a new 1:1 dollar-collateralized virtual coin, becoming the third US company to bring out a stablecoin this week after the GUSD project of the Winklevoss twins and Paxos’s PAX.
Dubbed CarbonUSD (CUSD), Carbon’s crypto offering uses the Ethereum ERC20 protocol. Currently, the project targets institutional investors, traders, and exchanges. In order to “create” CUSD, miners should make a fiat deposit into Nevada-based Prime Trust, the banking partner of Carbon. The startup is in the process of finding exchanges that would want to list the coin, and once it happens, CUSD will be available to other customers.
A basket of white-listed tokens supports CarbonUSD, eliminating a dependence “on the size of an initial reserve,” Car...
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