- Carbon says its partnership with EOS is aimed at making the CUSD stablecoin more widely available to the global EOS community
- DEXEOS users can now trade the CUSD/EOS pair on the exchange
Carbon (CUSD) a stablecoin reportedly backed by the United States dollar at 1:1, is now live on the world’s first EOS-based decentralised exchange, DEXEOS, following a strategic partnership between both entities, according to a Medium blog post on January 15th.
Carbon Joins Forces with DEXEOS
In its bid to make its CUSD stablecoin more widely available to the EOS global community, Carbon has inked a strategic partnership deal with DEXEOS, the world’s first decentralized cryptocurrency exchange powered by the EOS network.
Like many Ethereum based stablecoins presently on the market, Carbon claims its CUSD altcoin is a hundred percent stable and backed 1:1 by fiat, and it is also the first stablecoin to collaborate with EOS.
With the successful listing, users of the DEXEOS exchange can now conveniently trade the CUSD/EOS pair on the exchange, and all fiat deposit operations will be carried on the Carbon website or at EOS Lynx.
Commenting on the development, the CEO and Co-Founder of Carbon, Sam Trautwein expressed his excitement over the Carbon-DEXEOS alliance, adding that he is quite optimistic that the project would make cryptocurrency trading easy and efficient for EOS users across the globe.
“Carbon is an Elite team with technical team members from Stanford and Ivy League universities with Computer Science backgrounds. We believe that Carbon has all it takes to champion stablecoin adoption within the EOS ecosystem,” said the CEO and Co-Founder of DEXEOS, John Ting Li.
Funds Are FDIC Insured, EOS Adoption on the Rise
To make its operations work as seamlessly as possible and avoid the challenges other stablecoins creators like Tether have passed through, Carbon has made it clear that all fiat deposits are stored in FDIC-insured accounts via PrimeTrust and audits are frequently conducted on the platform by Cohen and Co, an award-winning accounting firm.
Although the EOS platform have had its fair share of challenges and criticisms in recent times, the team has not allowed that to impede development.
On January 11, 2019, Huobi, the 8th largest cryptocurrency exchange by trading volume announced the launch of the Huobi EOS exchange on a trial basis, to offer users crypto-crypto trading of a select pair of digital assets including EOS/BTC, EOS/ETH and EOS/USDT.
After a successful trial period, Huobi says the platform would add more cryptoassets.
At press time, the price of EOS (EOS) sits at $2.44, with a market cap of $2.2 billion and a 24-hour trading volume of $906.25 million as seen on CoinMarketCap.