Cryptocurrencies have made the perfect fit for the industry by catering needs of the general public. On 7th September 2022, the price of Bitcoin reached USD18,792.10. Cryptocurrencies are notoriously volatile but also show relative stability over a narrow time frame. Since even the top crypto market is not sustainable and there are many risks involved, most investors don’t trust their holdings. This is the major factor preventing people from committing crypto as a mainstream payment mode. In the meanwhile, stablecoins have also made their way to the market with the stability of established fiat currencies. They are proven to be a promising alternative because of crypto price volatility. Asset backed stablecoin development is the next big thing!
Stablecoins are bridging the gap and serving as blockchain-powered digital assets with no volatility. They have the benefits of crypto and fiat currency combined together. The crypto market is saturated with Asset Backed Stable Coins, their different types, real-world applications, and much more. Most companies build their tokens and peg them to other valuable assets. Read on the blog and get more information about stablecoins.
Few successful stablecoins are:
Tether (USDT)
USD Coin (USDC)
bitCNY (BITCNY)
TrueUSD (TUSD)
Stablecoins offer a complete solution for vitality issues. A stablecoin is like a token that uses blockchain technology for transactions and is backed by fiat currencies. Asset Backed Stable Coins work the same as fiat-backed stablecoins, but the only difference is that they use a “Security pledge” to neutralize the volatility. If a stablecoin is pegged to the US dollar, it will have the same price value as the dollar. They maintain their value through a smart contract according to the volatility in the ETH price. Technology is evolving every day and bringing better solutions for entrepreneurs. Stablecoin is solving the capital needs of investors in a simplified way just by opting for blockchain technology.
With the combination of stability and flexibility, stablecoins have grabbed the ability to back coins with fiat currencies. Lately, it is the best way for people in business and startup groups to step ahead toward capital purchase. Even if the market breaks, these coins would represent a big change in the way!
Stablecoins are used just like cryptocurrencies, but they tend to give more benefits than them. Crypto Backed Stablecoin Development is usually applied to store funds, initiate regular transactions through peer-to-peer payments, and bring more value to an exchange platform. When it comes to mitigating the side effects of a cryptocurrency crash, stablecoins are considered a great asset! Have a look at some potential benefits:
Countering Damages of Market Instability
The real-world application of Asset backed stablecoin development is minimizing the loss caused by highly volatile crypto coins. Investors can trade their falling crypto assets for asset-backed stablecoins in order to protect the holding value. This trading process is sane as investing in assets like gold in an unpredictable market. Stablecoins allow traders to reduce their risk without leaving the crypto ecosystem.
Regular Transactions
Just like fiat currencies, stablecoin wallets can be used for anything. Whether it is buying morning coffee or transferring overseas payments to family members, stablecoins are the most effective method of making international money transfers quickly and affordably.
Crypto Trading
Crypto Backed Stablecoin Development company can help you with this. However, due to strict restrictions, there are limited cryptocurrency exchanges that support fiat cryptocurrencies. So instead, users can trade with USD-backed stablecoins in the conventional world of asset exchange. This way, businesses get a boost, making crypto trading profitable.
Periodic Payments
With smart financial contracts, stablecoins get enforceable over time. These smart contracts are self-executing digital contracts with particular rules and a great choice for automating recurring payments. Many of you must not know this, but transactions in Asset Backed Stable Coins are traceable, transparent, and irreversible. This mode is completely efficient for salary payments, loan payments, rent payments, and subscriptions.
Want to create your own StableCoins? Our Asset backed stablecoin development company offers services to improve the development process. We create custom Ethereum-based stablecoin tokens that support specialized trading. Our team of stablecoin specialists has considerable years of experience, from major startups to large enterprises. We take care of everything end to end, from building tokens to market launches and managing your overall process.
Tokens backed by more steady assets, stablecoins have now emerged as a new tool in the digital economy. They provide stability for blockchain to make it function well and grow as infrastructure. Besides storing value, acting as a medium of exchange, and bringing accountability, Asset Backed Stable Coins take it a step further by stabilizing the crypto market as well. This is why it’s vital to have an innovative approach to the process.
Antier’s Crypto Backed Stablecoin Development team provides an unbeatable and much-needed range of services. We can help you build stablecoins using smart contracts and blockchain technology so that every transaction is protected on your end. Our dedicated team of experts provides reliable support throughout the completion of the project. Get in touch to learn more about the process!
