The blockchain startup Havven has announced its plans to launch a stablecoin on the EOS network with the intention to process cross blockchain payments. According to the Australian-based company, they will be launching the stablecoin called nUSD by the end of the current year.
nUSD has been launched first on the ethereum network back in June. The goal is not to switch the token’s fundamental network from ETH to EOS, instead with this launch interested individuals and companies would be able to make cross blockchain stablecoins.
Kain Warwick explained that it is not clear which blockchain will be the most important in the future, this is why they are launching the token in the EOS network as well as in Ethereum.
In the announcement, Mr. Warwick explained:
“For this reason, it’s important that projects providing blockchain infrastructure plan to provide cross-chain compatibility, so their success isn’t bound to the success of whatever chain they’ve chosen.”
Stablecoins have been created, in general, to adjust its supply to maintain a price pegged to an asset such as the US dollar or the Euro. This helps individuals companies and investors to avoid and reduce volatility in their virtual currency assets.
For example, Tether (USDT) is working in a new token pegged to the Euro known as (EURT).
Havven has decided to make the announcement of this stablecoin some time after EOS released its official network. Block One, the company behind EOS and its network, has announced an investment fund of $1 billion dollars so as to facilitate the growth of the ecosystem.
There are many different stable coins in the market. Companies such as IBM are also working in order to bring new solutions to the crypto ecosystem.