Telos and Carbon Start Partnership To Launch New TLOSD Stablecoin
The stablecoin market just keeps growing and Telos and Carbon are the latest companies to become a part of it. The two companies have recently started a partnership to launch a new USD-pegged stablecoin called TLOSD. The new project will use the technology of Telos blockchain.
According to the announcement, all exchanges that already support the Telos blockchain or the Carbon API can list the token. The first two that will receive the tokens are Vapaee and Newdex, but others are expected to follow.
It was also reported that any purchase of the asset lower than $500 USD will not even need a Know Your Customer (KYC) procedure.
The CPO of the Telos Foundation, Justin Guidici, affirmed that this new partnership will be important because it will open several new opportunities for people who want to use the Telos network but wanted to use fiat cash as well instead of cryptos.
Carbon is set to support the stablecoin and also to provide market-making services to it in case the coin initially lacks liquidity during the launch.
Dan Shiferaw, a software engineer at the company, affirmed that the new token will provide the users with a reliable way to use cryptos at the same time that they are protected from volatility.
Recently, the stablecoin market is really booming. Several companies have decided to follow on the footsteps of important companies of the sector such as Tether, so it is no surprise that we are seeing so many of these companies.