France on Board: Tozex Is the First French Actor to Use Circle’s USDC Stablecoin
Tozex cryptoasset platform has signed the partnership with Carbon to integrate Carbon Fiber solution, which allows Tozex users to easily mint and withdraw CUSD (the stablecoin of Carbon) and USDC (stablecoin of Circle) fiat-backed tokens, which will be of great benefit in terms of Tozex’s forthcoming BRO (Believers Reward Offering).
USDC was launched in 2018 by Circle in partnership with major cryptocurrency exchange like Coinbase. USDC is notably backed by Goldman Sachs and follows the ERC-20 standard, which utilizes the blockchain of Ethereum ecosystem and provides great compatibility, which makes it easy to support for wallet providers and trading platforms.
Tozex will be the first French company to offer this kind of solution to users. Earlier this year, Bermuda became the first government to accept its stablecoin USD Coin (USDC) for tax payments.
How Users Will Benefit from Stablecoins
A stablecoin is a digital currency designed to have minimal price volatility. As seen in the name ‘stablecoin’, one of the main features of this type of crypto-asset is stability. The prices of stablecoins have the lowest risk of being influenced by market fluctuations because they are backed by fiat currencies (USD, EUR, etc.) or commodities, such as gold or oil. Recent events regarding Bitcoin, for example, demonstrate that the stability of traditional cryptocurrencies leaves much to be desired. Prices go from significant growth to dramatic falls at incredible speed, greatly limiting the usability and, thus, the areas in which common cryptocurrencies could be implemented.
Everyone wants to be sure that they won’t lose everything in an instant. At Tozex, we have thought a lot about how to solve this problem in terms of fundraising and further usability. We came up with the BRO, which is a token-stabilization mechanism and a way to encourage its long-term holding by offering an additional reward to those who do not sell the tokens but hold them. A BRO is the only mechanism that uses stablecoins to raise funds, thus becoming a truly sustainable alternative to ICOs and STOs.
The integration of the Carbon Fiber fiat on- and off-ramp will greatly benefit both SMEs and investors. For investors, it helps them to calculate their ROI easily with stable investment support, being rewarded with TOZ tokens for the invested stablecoins. Statistics show that investors tend to shift to more stable assets because of market falls and fluctuations. At Tozex, we don’t want our users and investors to experience any shifts, so we offer them stability from the start.
For SMEs, they can now receive stablecoin in context of the Tozex token-based fundraising mechanism (BRO), which will provide a way for them to avoid the erosion of raised capital. Erosion can include any negative impact on a company’s associated assets or funds and is characterized as a general risk factor. The utilization of stablecoins within fundraising greatly minimizes the risks and encourages further engagement with the platform functions, thus keeping the assets safe and stable.
At Tozex, we aim to provide our users with the best solutions possible, and new partnerships will provide stability and the foundation for further growth and development.
See more at https://tozex.io/!
