IOST Blockchain Integrates USD Stablecoin USDA

This article was first published on Stories by IOS Foundation on Medium
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26 May 2021, to foster the increasing application of USD stablecoin as a prepaid means of payment, the Platinum Egg team — IOST Node Partner, and Game Developer announced the launch of IRC-20 USDA- a US Dollar-pegged stablecoin on the IOST blockchain.

USDA pegged 1:1 to the US Dollars can be purchased with US Dollars, Japanese Yen, BTC, ETH, and IOST.

Notably, USDA is not the first stablecoin issued on IOST this year. IOST had integrated HUSD, one of the world’s largest stablecoins by market cap, and added JPYA Japanese Yen-pegged stablecoin in collaboration with the Platinum Egg Team last week.

What Problems Does USDA Solve?

Although blockchain-based payment methods such as Bitcoin and Ethereum have emerged since around 2010, their prices have fluctuated greatly and their use as a payment method has not been a reality. In addition, the latest market dip has caused traders to move away from volatile cryptocurrencies to stablecoins.

Several stablecoins have started to be created in Japan, but they have yet to become popular. The Platinum Egg team hence aims to popularize the use of USDA as a stablecoin that can be used seamlessly for the smallest of payments.

Clearly, IOST is the preferred choice for developers looking to find a user-friendly, secure, and gas-efficient blockchain to develop their dApps.

Thanks to the use of Javascript smart contracts, IOST has cemented itself as a developer-friendly smart contract platform to launch stablecoins. Compared to other blockchains that consume high gas and might not be economically feasible for all, IOST is practically free which makes it an optimal option for transactions with small amounts.

USDA

  • Available for everyone to use as an advance payment method
  • Can be purchased in US Dollars, Japanese Yen, BTC, ETH, and IOST (US Dollars or Japanese Yen only at the time of release. BTC, ETH, and IOST purchases ...

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