The TrueUSD stable coin launch on the Avalanche blockchain is scheduled for the first quarter of 2021. This will be the first stable coin on the avalanche network.
It is expected that the launch of TrueUSD on the Avalanche blockchain will help develop decentralized finance (Defi) applications, speed up transactions, and reduce their costs.
Dollar liquidity is essential for the Defi ecosystem to thrive. We are thrilled to launch one of the most reliable and widely used stable coins on the Avalanche network, said John Wu, President of Ava Labs.
TrueUSD is one of the five most significant stable coins pegged to the US dollar. It is developed by TrustToken, which has created stable cryptocurrencies linked to other fiat currencies as well.
According to John Wu, Ava Labs is in talks with many projects behind different stable coins to persuade them to come to Avalanche blockchain.
He hopes that many stable coins will join them soon. Avalanche blockchain’s target is to launch stable coins on their blockchain linked to various fiat currencies and algorithmic stable coins.
We will provide Defi applications users on the Avalanche network with flexibility and liquidity.
In November, the Avalanche blockchain developers tested a fast and economical transfer of assets between the Avalanche and Ethereum networks.