Stablecoin

Solana

USDC

sUSD

The Solana (<a href="https://yellow.com/asset/sol" rel="noopener noreferrer nofollow">SOL</a>) blockchain has a new real-world stablecoin asset now as <a href="https://coinmarketcap.com/academy/article/solayer-launches-rwa-backed-stablecoin-susd-on-solana" rel="noopener noreferrer nofollow">Solayer launched sUSD. </a>This will act as a bridge between the crypto world and traditional finance through Solayer’s tokenization platform OpenEden.
The sUSD stablecoin-backed real-world asset gets its value from a diverse low-risk assets basket including the US treasury bills and other Stablecoins. Crypto traders using the sUSD through Solayer's OpenEden platform can enter government bonds. This will be particularly useful for retail investors as it can get into a bond with a minimum $5 entry.
Through this system, Solayer is attempting complete decentralization away from the notion that most Stablecoins are tethered to traditional banking infrastructure and run contrary to the individual freedom promised by the crypto world. This is because crypto traders can mint and redeem sUSD in the non-custodial RFQ marketplace without any intermediary.
Unlike other stablecoin assets, sUSD automatically gives returns in <a href="https://yellow.com/asset/usdc" rel="noopener noreferrer nofollow">USDC</a> to its holders. This will function like savings account holders earn interest automatically from banks. Solayer has also enabled instant sUSD redemption to USDC.
As per Artemis, stablecoin transactions have increased 73%, crossing the $66.77 billion daily volume mark. In October, the total transactions touched the $2 trillion mark, and most of it came from USDC and Tether.
As of October 31, <a href="https://coinmarketcap.com/currencies/usd-coin/" rel="noopener noreferrer nofollow">USDC is trading</a> at $0.9999, down 0.02% in the last 24 hours while its market cap has increased by 0.67% to reach $35.11 billion. Meanwhile, the trading volume of USDC has decreased 24.60% to touch $6.75 billion.

Solana's New RWA-Backed Stablecoin sUSD To Offer Instant USDC Redemption

Yellow News

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