Zytara to Issue ZUSD Stablecoin on DigitalBits Network
Zytara announced today the selection of the DigitalBits blockchain, alongside Ethereum for the launch of their Zytara stablecoin (ZUSD). Zytara seeks to launch a digital banking platform and payment network for Millennials and Gen Z gamers and esports enthusiasts that promotes financial literacy and inclusion for demographics long underserved by the traditional financial sector.
ZUSD will be a stablecoin created by Zytara and issued by Prime Trust, a state-chartered trust company in the United States that is also the regulated administrator for ZUSD. Each ZUSD will be 100% collateralized with a corresponding US dollar held with Prime Trust, redeemable through Prime Trust at a 1:1 ratio and subject to examinations by Cohen & Co, a national accounting firm, with reports that are made publicly available on a regular basis. ZUSD will initially launch on the Ethereum blockchain, followed by the DigitalBits blockchain as the company executes on its mission to incorporate multiple blockchains.
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