In response to the growing stablecoin market, the issuer of Stablecoin, Rupiah Token, BiLira, BRZ, EURS, and Stablecorp collaborate and announce the formation and launch official Stablecoin Alliance (SA). SA is a non-profit international organization consisting of unrestricted stablecoin issuing companies from major exchanges or trading platforms. Its main mission is to accelerate the adoption and use of stablecoin in the world by advocating for the highest standards of safety and compliance.
This organization is global and spanning transcontinental memberships and multiple trading and asset centers digital world. This non-profit organization consists of companies that publish stablecoin originating from various parts of the world such as Indonesia (Rupiah Token), Europe (EURS), Turkey (BiLira), Brazil (BRZ Token), Canada (Stablecorp).
After going through an independent discussion process throughout 2020, the members realized that they have the same development goals in carrying out expansion efforts. Respectively – each member company understands that to be able to drive a narrative around the progress and existence of stablecoin in the global arena requires a strong emphasis on compliance and best practices to establish and maintain comfort and assurance against the user. To facilitate this goal, the parties emphasized the need for strengthening stablecoin protocols and best practices. This is to help create and maintains a sense of security for users. Apart from that, SA wanted to explore the manufacture and maintenance of foreign exchange lines above blockchain and trading pairs that available among member stablecoin, developing and refining the narrative around the process of listing stablecoin on global exchanges, and recommending promotions for independent stablecoin projects.
Stablecoin Alliance members firmly believe that as the ecosystem develops digital assets, builds the right pathways to stablecoin fiat ( on-ramp ) to act locally as a foreign exchange channel on the blockchain is very important to support online adoption bulk. Globally, stablecoins have shown good performance in 2020 in total the supply of coins in circulation increased by 400% which is over $ 5 billion compared to the beginning year. The total supply of stablecoins in the third quarter almost doubled from the second quarter, and The total stablecoin market cap has also exceeded $ 20 billion at the time of writing.
In other related developments, the Securities and Exchange Commission (SEC) and Office of the Comptroller of the Currency (OCC) issued guidelines about stablecoin that is supported by fiat. Many of the world’s leading countries, including the US, China, Japan, Canada, and The EU, has expressed great interest in issuing digital currencies at central banks themselves.
Stablecoins are a digital asset vertical that is growing rapidly lately. Fiat stablecoins are digital assets that have properties like FIAT currencies in a sense protected from crypto market volatility. Stablecoins have become part of that infrastructure important in the digital asset ecosystem. They provide efficiency and effectiveness only owned by digital assets such as online transaction settlement, ease of tracking, no changeable/immutable, and, very low transaction fees. Stablecoins are becoming an increasingly popular asset due to their coping abilities imperfections in fiat currency and weaknesses of the current transaction system. This type of cryptocurrency is designed to hedge against the volatility of the crypto market. Solution such can be supported by relatively stable assets such as commodities, banknotes, or other cryptocurrencies.
Rupiah Token (IDRT) allows you to use Indonesian Rupiah directly on over Ethereum & Binance Chain. Rupiah token is a token that has a value of 1: 1 with Rupiah which can be traded on global and local exchanges such as Pintu Application.
BiLira is a stable cryptocurrency supported by the Turkish Lira. This means you always can buy and exchange 1 BiLira for ₺1.00 Turkish Lira.
The BRZ token is a circulating Brazilian stablecoin that makes Brazilian society possible direct access to various asset pairs on the exchange and to trade currencies stable money pegged to real (BRL) on a global scale.
EURS is the largest euro-backed digital asset, combining the benefits of currency second most trafficked in the world by transparency, permanence, and blockchain efficiency.
Stablecorp is the company behind publishing and managing QCAD, the marketplace CAD stablecoin the first mass.
Learn more about the Stablecoin Alliance at https://stablecoinalliance.org/