Cardano Will Soon Have Its First Stablecoin

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Software development company COTI announced a few hours ago the issuance of the first stablecoin designed to run on Cardano. The news was first revealed by Charles Hoskinson, leader of Cardano, and Shahaf Bar-Geffen, CEO of COTI Group, at the Cardano Summit stage in Laramie, Wyoming. The Djed stablecoin will be issued on Cardano and will promote the growth of its nascent ecosystem, especially now that the blockchain is beginning to support smart contracts and markets have strong expectations about the possible development of DeFi platforms on a blockchain that has been touted as the future Ethereum Killer. What is Djed and Why Does Cardano Needs a Stablecoin? A stablecoin is a cryptocurrency designed to maintain a stable value with respect to a reference. The best-known stablecoins are cryptocurrencies like USDT or Stasis, which are pegged to fiat currencies such as the dollar or the Euro. However, there are cryptocurrencies whose value is pegged 1:1 to other
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