TMCnet News
Carbon Launches the First Stablecoin on Hedera Hashgraph NetworkHOBOKEN, N.J., Sept. 16, 2019 /PRNewswire/ -- Carbon, the company making fiat to crypto simpler, today announced that it has launched a fiat-backed stablecoin, CarbonUSD, on the Hedera Hashgraph next-generation public distributed ledger. CarbonUSD (CUSD), is a regulated fiat-backed stablecoin where users can deposit and withdraw real USD. To mint new CUSD tokens, users can make fiat deposits via ACH or Wire Transfer. Frequent third-party attestations by leading auditor Cohen & Co. verify publicly that each token is backed 1-to-1 by escrowed funds in FDIC-insured accounts. CUSD has now been listed in Carbon's fiat on / off ramp API - Carbon Fiber - which offers the best rates and fastest delivery in the industry for credit and debit purchases of crypto-assets, with the following key features:
By offering integration of Fiber to distributed applications (dApps) on the Hedera Hashgraph platform, projects that choose to accept payment in CUSD or HBAR will be able to onboard customers from within their own ecosystem. Carbon handles all chargeback risk, liquidity management, and the optional KYC pocess for increasing user purchase limits. "We believe Fiber's payment rails and overall user experience coupled with CUSD on the Hedera platform, which enables settlement in seconds with micro-cent transaction fees, even when sending the stablecoins across borders and to unbanked recipients, will make applications that leverage these features very intuitive for mainstream users," said Miles Albert, Co-founder and Chief Strategy Officer at Carbon. "In addition, the Hedera network's 'fork-resistance' with its council governance model gives assurance to counterparties who use CUSD within a smart contract agreement that their tokens will never fork along with a competing version of the Hedera ledger, in which case there would be two versions of CUSD but only one version with 1-to-1 fiat redeemability. Fork-resistance, therefore, may become a required property for many owners of asset-backed tokens," Albert noted. "Stablecoins play a crucial role in the distributed ledger ecosystem," said Jordan Fried, SVP of Business Development for Hedera Hashgraph. "We are excited that Carbon has chosen to launch CarbonUSD on the Hedera network, and will be providing dApps the ability to integrate with Fiber, to offer a broader variety of payment options to customers using the network." CUSD is fully redeemable into USD through Carbon's website. Carbon Fiber and CUSD are also available on the Hedera Hashgraph testnet, for easy testing during the development process. Distributed applications ("dApps") building on the Hedera platform can integrate CUSD and Fiber today by visiting https://docs.carbon.money/. About Carbon About Hedera For more information, visit www.hedera.com, or follow us on Twitter at @hashgraph, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/whitepaper. Contact View original content:http://www.prnewswire.com/news-releases/carbon-launches-the-first-stablecoin-on-hedera-hashgraph-network-300919168.html SOURCE Hedera Hashgraph |