Conflux and Stablecorp Will Be Partners at Stablecoin Project
On Oct 07, 2020
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The Conflux Network announced the partnership with Stablecorp. The main objective is to make stable coins popular in Canada and China.
Conflux announced the partnership with the Twitter account:
We are excited to announce that @Conflux_Network has partnered with @stablecorp to build a bridge between Chinese and Canadian markets with the goal of raising awareness around the #stablecoin and its benefits.
— Conflux Network Official (@Conflux_Network) October 5, 2020
What is Stablecoin?
Stablecoin is the cryptocoins that peg their values to the external assets. The external assets could be different in forms, such as fiat currencies, cryptocurrencies, and non-collateral stablecoins. Bitcoin is so much volatile, and people seek more stable and more secure cryptocurrencies, and stable coin offers these features.
The partnership between Conflux and Stablecorp
The first Canadian stablecoin is the QCAD. Stablecorp created the QCAD, and it is in more than 20 environments. This currency is for citizens of Canada living abroad if they want to diversify their portfolios and invest in risk-free assets. This coin allows for affordable inter and intra-Canadian transfers. With the cooperation with Conflux, users will better off with the high-speed network capabilities of Conflux.
This partnership is beneficial for both sides. Conflux is based in China and has its office in Toronto. Conflux chose QCAD because it is one of the Stablecoin is one of the successful cryptocurrencies of Stablecorp. So, the partnership will help parties to innovate, and the location of those countries is suitable. Stablecorp will have a chance to grow in China, as one of the homes for cryptocurrencies.
Also, Stablecorp made a statement on Twitter:
“China is an important country for us to expand our footprint, as the Chinese & Canadian market share a strong bond in terms of both capital flow & investments.”
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Disclaimer: All information provided in the content is for informational purposes only and should not perceive as investment, financial, or trading advice. Any investment decision you make should be a personal choice based on financial knowledge, experience, and market research.