The market capitalization for stablecoins now exceeds $50 billion. These assets counteract the extreme volatility in the cryptocurrency markets by pegging their value assets such as US dollars. A feature that makes them a better entry point for blockchain technology for the general population. In November 2020, DigitalBits’ XDB Foundation and Stably Corporation started a partnership that was set to introduce important developments for this growing space.
The DigitalBits blockchain is a secure, low-cost global transaction network. The protocol is a premier solution for consumer digital assets, specifically branded cryptocurrencies and stablecoins. It recently launched its Mainnet 2.0 which included important upgrades for these kinds of assets as well as broader support for esports and gaming.
On the other hand, Stably is a fast-growing FinTech company and blockchain platform that focuses on the use of stablecoin technology. Its native USDS, a stablecoin launched in collaboration with regulated partner Prime Trust, will be the first stablecoin issued on the DigitalBits blockchain. The platform offers a Stablecoin-as-a-Service (S-a-a-S) feature that introduces a white label stablecoin solution available to organizations looking to streamline the issuance and deployment of stablecoins.
One of these organizations is Zytara, a fintech company that seeks to address the numerous frictions currently experienced within esports and gaming. Stably is responsible for the ZUSD smart contract and will introduce ZUSD on the DigitalBits blockchain as well.
Stably’s S-a-a-S can now be used on the DigitalBits blockchain after the launch of its Mainnet 2.0. This allows users to take advantage of the network’s important scalability upgrades, which include low fees and a high throughput of over +10,000 TPS. In addition, Stably has expressed intent to operate nodes on the recently launched DigitalBits Mainnet 2.0, contributing to network security and decentralization.
ZUSD and Stably’s own USDS will be the first to benefit from these upgrades in the context of S-a-a-S. The scalability of DigitalBit’s Mainnet 2.0 is becoming ever more important as the stablecoin market continues to grow within esports and other industries. Solutions such as Stably’s could pave the way for mainstream blockchain adoption when built upon these scalable networks.
