We all know that blockchain technology is widely evolving among business entities with every passing day and has gained the potential to disrupt almost every industry in the near future. The technology strives towards providing decentralized, faster, secure and efficient transactions for cryptocurrencies, which are digitized forms of currencies. But we also know that the price value of both fiat money and digital currencies constantly fluctuates. This is where stable coins come into play.
What are stable coins? What is its purpose?
Stable coins are cryptocurrencies that are backed by real-world assets such as precious metals, fiat currencies, etc. As “stable” assets back them, stable coins help reduce volatility and price fluctuations… Many business entities have started preferring stablecoins and stablecoins are set to disrupt the crypto world in the future. The stablecoins are integrated with blockchain technology, which helps to secure, control and verify transactions.
The most crucial advantages of stablecoins include:
- Price stability
- User Privacy
- High-end security
If you want to have a shot at the stablecoin crypto business, this article is going to help you get an idea about how to do it authentically and shine over your competitors. But before going into that, let’s take a look at the current scenario of stablecoins in the market, how its demand is broadening among the potential investors, to understand better and set your priorities right.
The evolution of stable coins into the business world:
- Bitvo- Which is a Canadian crypto exchange platform, has announced recently about the launch of their first, “Canadian dollar-backed stablecoin.” This is because of the many advantages of stablecoins that include price stability, volatility, etc., along with blockchain technology, and to enable the Canadian people to buy and sell efficiently and ensure safety and stability.
- The popular twin-brother-entrepreneurs combo, The Winklevoss brothers, who are cryptocurrency business pioneers, announced recently about the launch of a Gemini dollar, a stablecoin designed for their trading platform Gemini.
- One of the popular tech giants, IBM Corp, has also adopted stablecoins in combination with stellar blockchain technology.
- To date, there are three successful models of stablecoins existing in the market.
- The first model, which is similar to a tethered model, is fiat-backed stablecoin.
- In the second model, the coins are backed by multiple assets.
- For the third model, the stability of the coins is stimulated according to the economics of bond markets.
- The popular American businessman, politician and presidential candidate, Mr. Michael Bloomberg, published a financial reform plan in 2020, in which he had written about how stable coins are evolving among the Wall Street investors. To highlight the key points,
- He states that stable coins are providing a clearer path to the mass-market adoption of the new asset class and have risen in popularity, becoming a major source of liquidity in the cryptosphere.
- In another point, he says, even though Wall Street is yet to be fully on board in the cryptocurrency train, several equities, ETFs, and traditional instruments provide some level of exposure to the industry.
- The biggest stablecoin in the market, Tether USDT, since its launch in the year 2015, has gained more than 80% market shares for stable coins.
- In the year 2019, JP Morgan revealed that they have plans to build a stablecoin, JPMCoin.
Thus, the demand and marketability for stablecoins are very much alive in the market among potential investors. To survive and stand out, you need to carry out a legitimate development process. The best way to do that will be conducting ample research and choosing the right platform with the right solutions. Our team consists of some of the most experienced and dedicated developers who are well informed about the current market requirements and the constant changes happening. Hence, they will offer solutions that meet them. We are early adopters of cryptocurrency and blockchain development services. For your understanding, here is a list of our key stablecoin development solutions.
Stablecoin development services:
- Fiat-backed token/coin development
- Precious stones backed token/coin development
- Gold-backed token/coin development
- Necessary KYC/AML integrations
- Effective Whitepaper
- API integration
- Cutting-edge blockchain technology integration
- Smart contracts integration
- Token sales/ distribution
- Payment Gateway integration
- Best-in-class marketing strategies
- Community building
- Stablecoin unique pre and post-launch services
These are the services that are included with our stablecoin development. Our developers possess vast knowledge and experience in the field, and therefore, our services will be reliable and feature-rich. Our platforms are highly scalable and can be customized according to user preferences. We also assure quick and cost-friendly services. Reach out to our team to know more and to become viral among potential investors.