Djed use cases continue to expand in less than a month after launch.
Cardano-based NFT-focused platform NMKR has announced that its payment service has added DJED as a payment option, making it possible for users to purchase NFTs on supported platforms using the Cardano stablecoin.
NMKR made this known in a tweet today asserting that users can now purchase NFTs with Djed.
You can now buy NFTs with $DJED ✨
An over-collateralized #Cardano native stablecoin from @COTInetwork. pic.twitter.com/iQWKvp0YXT
— NMKR (@nmkr_io) February 14, 2023
In response, DJED issuers COTI hailed the development as an additional step towards mass adoption.
Another implementation of $DJED on the way to widespread adoption!@nmkr_io https://t.co/musLTVL6Yn
— COTI (@COTInetwork) February 14, 2023
Notably, NMKR is at least the third platform to accept DJED for NFT payments. In January, COTI disclosed that it had entered a partnership with Yepple to enable NFT payments using DJED. Before that, last September, it entered a partnership with Warriors, a multiplayer role-playing game on the Cardano network, to adopt DJED payments for in-game NFTs.
The Cardano stablecoin has seen widespread adoption since it launched less than a month ago, largely thanks to partnerships forged by COTI before launch.
As reported, popular Cardano decentralized exchanges (DEXes) like WingRiders, MuesliSwap, and MinSwap have already listed the stablecoin. Bitrue, a Singapore-based centralized exchange in addition to listing DJED and its reserve currency SHEN, has also launched staking services offering up to 50% returns in just 15 days.
EMURGO, Cardano’s profit-oriented arm, has asserted that the introduction of the stablecoin will likely attract institutions, retailers, and decentralized apps (DApps), boosting the Cardano decentralized finance (DeFi) ecosystem.
At press time, DJED is up 2.9%, trading 2 cents above the dollar peg, boasting a 24-hour trading volume of $40,062 per CoinGecko data.
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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