Multiple Stablecoins find listing on Liquid trading platform along with Electroneum (ETN)
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Stablecoins are in demand everywhere and seems like everyone wants a piece of them. Considering this demand from the customers, a lot of exchanges are adding them in a frenzy. Same seems to be the case with Liquid- a trading platform that bridges fiat and crypto.

Gemini Dollar (GUSD), Circle’s USDC and Electroneum (ETN) find listing on Liquid

According to the recent announcement, Liquid, a trading platform that bridges fiat and crypto, has announced the listing of Electroneum (ETN), a cryptocurrency focused on mobile usage, in addition to multiple stablecoins including Gemini Dollar (GUSD) and Circle’s USDC

Liquid is a product of QUOINE, a blockchain fintech company and creator of the QASH cryptocurrency. QUOINE previously raised $100 million via an ICO in 2017 and has conducted more than $50 billion in transactions over the past year, as of July.

The press release that announced that Liquid will be listing GUSD quoted Liquid CEO Mike Kayamori saying that

“The Gemini dollar is an obvious choice for Liquid. Both Liquid and Gemini put transparency, regulation and compliance at the forefront of our operations. We are proud and honored to be able to offer Liquid customers the opportunity to use a stablecoin that can stand up to regulatory scrutiny. We will now explore the opportunity to develop a JPY-pegged stablecoin”

The reason behind Liquid listing these stablecoins seems to be the popularity stablecoins have gained recently and have become an important part of the cryptocurrency ecosystem. These fiats backed coins give traders flexibility to hedge against volatile markets and the ability to easily and safely move funds between platforms. Tether stood as the bellwether for sablecoins but as controversy started building around it with respect to its USD backing, a lot of people and exchanges lost trust in it.

With Tether unable to standout clean, Gemini USD started gaining popularity despite recent launch. The reason for this popularity is because this stablecoin is well regulated and audited. The U.S. dollars that back GUSD are held at the State Street Global Bank in the United States and eligible for federal deposit insurance coverage. The balance held by State Street is examined monthly by an independent, registered public account firm, with reports available to the public, while the smart contracts underlying the GUSD token have been audited and formally verified by an independent security firm, whose report is also publicly available. In addition, the multi-layered GUSD protocol brings a high level of security.

With the addition of GUSD, a regulated and audited stablecoin with value pegged 1:1 to the U.S. dollar, Liquid is now more than ever at the forefront of cryptocurrency innovation and compliance.

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Apart from these stable coins, Liquid also listed Electroneum (ETN) with an EUR fiat trading pair. Electroneum, as a project, aims to build itself into a recognized platform for payment, similar to PayPal or Venmo. To accomplish this, the Electroneum has introduced a new system of KYC that “involves each user providing proof of identification based on the amount of ETN (our digital currency) they hold or send from their wallets.”

With some good listings, Liquid will not be able to generate volumes for itself but also will be able to provide liquidity to these stablecoins. Let’s see how to do these listing play out on the liquid platform

Will Stablecoins help in making liquid a prominent crypto cum fiat platform? Do let us know your views on the same

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Multiple Stablecoins find listing on Liquid trading platform along with Electroneum (ETN)
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Stablecoins are in demand everywhere and seems like everyone wants a piece of them. Considering this demand from the customers, a lot of exchanges are adding them in a frenzy. Same seems to be the case with Liquid- a trading platform that bridges fiat and crypto.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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