The hype around stablecoins and their benefits has been slowly growing over the last few months. Now, more than ever, with the crypto market plunging and cryptocurrencies struggling across the board, stablecoins are seeing yet another spike in interest as crypto investors seek refuge from the bear market. Tether (USDT) has had a lot of the limelight, particularly in recent weeks, but there are other stablecoins that are growing in reputation too, such as Stasis (EURS) and TrueUSD (TUSD).
It comes as no surprise that stablecoins are thriving while other cryptocurrencies are floundering, because they are pegged to traditional assets and so provide a method of storing value, protected from the aggressive fluctuation of the crypto market. Moreover, it’s far easier for investors to move their crypto assets into a stablecoin, rather than exchange their crypto back into fiat currency.
The increase in adoption for stablecoins also signals that the community still has faith in crypto and a rally for the market in the future. Another reason for the hope of crypto becoming more mainstream is the International Monetary Fund’s recent announcement that digital currencies are likely to play a legitimate role in our future finances and that governments should consider offering their own cryptocurrencies.
Looking to accelerate the time in which it takes us to reach a future world of digital currencies is ARYZE, creator of the famous Danish stablecoin eKroner, and winner of the ‘Best New Danish Startup’ at 2018’s Copenhagen’s Fintech Week. ARYZE issues fully redeemable stablecoins and by proving the reliability of this new hybrid digital currency, it is positioned to become the primary payment method for users to make instant global payments in a modular ecosystem.
The goal for this fintech start-up is to build a bridge between tradition value and digital currencies, and so it has partnered with AmaZix, the world-leading community engagement firm, in order to help achieve this vision. This collaboration looks to improve and maintain ARYZE’s community channels as it continues to pave the way in the digital currencies market and help push stablecoins further into prominence.
This joint venture is set to help improve confidence in crypto investors and belief in the crypto stablecoin market, by reducing the volatility that is commonplace in crypto investments. By working together, they hope to bring stablecoins, the next generation of crypto, into the mainstream markets.
Commenting on the partnership, Jack Nikogosian, CEO at ARYZE, said: “For users, we create a unique, modular and customisable paying experience. For businesses, we create large saving opportunities using this new technology with a variety of analytical tools. This is all made possible by our programmable, stable currencies.”
Kenneth Berthelsen, CMO at AmaZix, said: “The future of crypto must allow for easily usable products for typical people and businesses, enabling users to seamlessly interact between the old and new worlds of finance. We believe this is precisely what ARYZE is working on delivering.”