The year 2020 might become the year of the stable coins and dex’s for the Crypto world.
There have been an influx of new stable coins competing for market share and prominence in the ever changing and growing Cryptocurrency market. With Libra at this point failed and not launching, this has open the doors wide for others to fill the gap in different ways.
Sounding like Libra, cUSD states on their website their vision:
“A fast way to transfer money globally in secured digital transactions. cUSD is your digital money so people can live better lives. Almost fee free transactions, a decentralized network that is peer to peer. cUSD Currency is for everyone!”
Speaking with one of the founders of cUSD they stated: “We have a great vision to see over 1 million people hold cUSD on the ETH Chain, mass adoption is our goal and cUSD is one on-ramp towards this.”
If the cUSD team can accomplish this ambitious goal that would put them as the most held cryptocurrency on the ETH chain above Tether (USDT) as of this writing as 771k holders on the ETH blockchain.
From the cUSD website it says:
No Middle-Man. Be Your Own Bank. cUSD Currency (CUSD) is a type of cryptocurrency that is referred to as a stablecoin. cUSD converts cash into digital currency and aims to be anchored to the price of USD and Tether. One way this stability is accomplished is through the minting and burning of the main supply mathematically.
There contract code is already verified on etherscan and from first glance they are focusing on DEX exchanges with already over 20+ listed. They seemed to have developed already also a paper wallet and have in store a secure web wallet and android wallet that will be available soon on Google Play. The android wallet will have an “accept” function so merchants and others can request payments using it.
They are already officially listed in Trust Wallet and Coinbase Wallet, with I am sure many more to come. This project seems to be very new and it will be good to see if they will have various airdrop and even investor IEO opportunities. This definitely is a project worth watching in the year 2020.