Hoskinson believes that a Cardano-based stablecoin would be unrivaled
The possibility of launching a stablecoin on the Cardano network has turned from a rumor to a headline, as Charles Hoskinson said it would increase demand for ADA. The IOHK CEO said the company has been “thinking about stablecoins” for seven years and is apparently seriously considering this.
Charles Hoskinson expresses interest in the introduction of a stablecoin on Cardano
A new stablecoin could be launched on the crypto market. Charles Hoskinson, the CEO of IOHK, the company behind Cardano, said in a recent tweet that he was interested in a stablecoin on Cardano's blockchain, saying that both he and the company have been considering this idea for years.
“If we do that, it will blow everyone out of the water. I started with stablecoins in this room and we've been thinking about them for seven years, ”said Hoskinson.
The discussion about a Cardano-based stablecoin started with a tweet from Weiss Crypto Ratings, a rating and analysis company that focuses on crypto currencies. At the 11. In February, the company said there were rumors that Hoskinson was planning to build a version of the DAI stablecoin on Cardano.
The company noted that there is a need for more trusted stablecoins in the crypto market. This, according to the tweet, gives him a huge advantage over other stablecoins like USDT and USDC.
Having a stablecoin on Cardano would increase the demand for ADA
The launch of a version of the DAI on Cardano spread like wildfire on Twitter as the news made headlines in most crypto media. The hype surrounding stablecoins and Cardano calmed even less when Hoskinson took up the topic again and explained that such a project could have enormous advantages for Cardano as a network as well as for the ADA holders.
Hoskinson said the future stablecoin launched on Cardano could use its domestic cryptocurrency, ADA, as part of central bank management. This, he said, would create greater demand for the underlying and increase both the price and uses of ADA.
Proof of text: cryptoslate