IOST, a scalable and secure blockchain platform, has announced the launch of iUSD – a cross-chain stablecoin issued on the IOST blockchain. Blockchain applications built on the IOST ecosystem can use stablecoins to execute payment transfers with low exchange rate fluctuations. The iUSD, is pegged to PAX, GUSD, TrueUSD, CircleUSD, and DAI and will be officially released this week.
The iUSD stablecoin is being launched with the help of Rate3 Network, and can help to seamlessly transfer digital assets between the IOST network and other blockchains. Non-IOST digital assets (such as PAX, GUSD) can be stored on the IOST blockchain. Conversely, assets on the IOST blockchain can also be transferred onto other blockchains.
“We are excited at the impending launch of iUSD and believe that the launch of the cross-chain stablecoin iUSD will attract more DApp developers to IOST, as it stabilizes value transfer within the IOST ecosystem and helps Dapp teams minimize their exposure to volatile market prices.”