CUSD (the Carbon stablecoin) which reports indicate is backed by the USD finally went live on the very first EOS blockchain-based DEX. Reports indicate that the CUSD is backed at a rate of 1:1. DEXEOS, which is the first exchange of its kind agreed to list the stablecoin after entering into a partnership agreement meant to benefit both parties.
According to a blogpost published on Medium on January 15th, the folks at Carbon stated that their partnership with EOS was aimed at ensuring that CUSD would now become easily accessible to the entire EOS community. This means that all EOS blockchain fanatics will be able to access the coin regardless of where they may be located in the world.
The report goes ahead to state that the DEXEOS users will from now onwards be in a position to trade the EOS/CUSD pair on this particular exchange.
DEXEOS Enters into a Strategic Partnership with Carbon
Carbon has entered into a strategic partnership with DEXEOS in order to ensure that the CUSD stablecoin will now be accessible to the entire EOS community. It is important to mention that the DEXEOS is a first of its kind, as it is currently the only decentralized crypto exchange that is being powered via the EOS blockchain.
Carbon, like most other ETH based stablecoins currently operating in the crypto universe, has claimed that its altcoin is 100% stable. It also goes ahead to state that it is backed by fiat at a 1:1 ratio. This is in addition to being the very first stablecoin to enter into such an agreement with EOS.
Having successfully been listed on the exchange, DEXEOS users will now be in a position to trade the EOS/CUSD pair on the DEXEOS exchange. Any fiat deposit operation initiated by a user will be passed on at the EOS Lynx or at the Carbon Website.
Sam Trautwein, the Co-Founder, and CEO of Carbon, while commenting on this new development could not hide his excitement over this new alliance. He stated that he was very optimistic that this particular project would make it easier for crypto enthusiasts to easily trade crypto. Global EOS users would also find it easy and efficient to trade crypto.
He went on to state that the Carbon team comprises of an elite team of professionals recruited from ivy league colleges and universities, e.g., Stanford, with many of them having a background on computer science. John ting Li, the Co-Founder, and CEO of DEXEOS stated that the team behind the project believes that the Carbon stablecoin has everything that is needed to help champion the adoption of stablecoins on the EOS platform.
To guarantee that its operations will be seamless and will not be affected by the challenges that have been faced by numerous other stablecoins, e.g., Tether, Carbon has ensured that all its fiat deposits will be held in insured (FDIC) accounts through PrimeTrust. Cohen and Co. have also been tasked with the responsibility of ensuring that audits on the platform are performed on a regular basis.