Yesterday we launched the first stablecoin on the EOS blockchain. CarbonUSD is a compliant, price-stable cryptocurrency that is one-to-one backed with USD held in FDIC insured accounts and has been live on the Ethereum Network for two months. The central innovation behind this technology involves a new mechanism for transitioning to a hybrid algorithmic stablecoin model once CarbonUSD reaches sufficient scale as a fully fiat-backed token.
The successive launch on Ethereum and now EOS is consistent with the teams’s embrace of interoperability and our long-standing belief that a robust and expansive presence across key chains will provide the most value for the Crypto industry in the long-term.
“We are honored and excited to be the first stablecoin on EOS and to play such a crucial role in such a burgeoning ecosystem. Stablecoins are critical infrastructure for value and we think providing this to EOS further enhances the ecosystem”, Sam Trautwein, CEO and Co-Founder of Carbon.
Carbon’s interoperability solution enables CarbonUSD users to transfer their tokens onto the EOS blockchain, where users can transfer CarbonUSD with even lower fees and faster settlement than on Ethereum. The company’s web portal, at fiat.carbon.money, will provide a seamless user experience for interacting with their EOS application, which includes native EOS smart contracts for one-to-one redemption from tokens into real USD.
Carbon is the first stablecoin to launch on EOS and looks forward to working with the global EOS Community, Block.one, and affiliated organizations to create value for the whole space.
“Stablecoins, as an asset class, are the next big thing in crypto and will lead to a new bull market in the next 6–18 months. Carbon’s unique hybrid approach for gaining stablecoin adoption is the most promising I know of. There’s no other project like it”. Sam Kazemian, Co-Founder and President of Everipedia, a decentralized encyclopedia and prominent dApp company that has built on the EOS blockchain.
Early access is available today for institutional accounts, hedge funds, traders, and exchanges.
To create new CarbonUSD tokens, users can make fiat deposits with the company’s partner bank, Nevada-based Prime Trust. Frequent third-party attestations by leading auditor Cohen & Co. verify publicly that each token is backed 1-to-1 by escrowed funds in a trust account.
“I’ve always appreciated how forward looking many members of the EOS community are and am incredibly excited that we can now play a larger role in working with this community to build a better future”, Sam Trautwein.
Carbon is committed to developing core infrastructure for the digital economy and anticipates launching more products and services that further increase connectedness over the coming months.
To get in contact with Carbon message email@example.com