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HomeCrypto NewsMarketTrueUSD Stable Coin Is Coming On Avalanche Blockchain In The First Quarter Of 2021

TrueUSD Stable Coin Is Coming On Avalanche Blockchain In The First Quarter Of 2021

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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.

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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.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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