Ethereum Classic has made headlines with the launch of its very first USD-backed stablecoin, Classic USD (USC).
The collaboration between stablecoin issuer Brale and web3 developers at the Ethereum Classic system has resulted in the creation of Classic USD. This premium stablecoin is denominated in American dollars and is backed by cash, US government bonds, and cash equivalents. One of its standout features is its redeemability for American dollars and fiat liquidity, along with real-time international settlement capabilities. The collateral supporting the stablecoin is based on the Classic USD.
Brale brings a fresh approach and innovative ideas to the stablecoin sphere, and their clients are eagerly anticipating working with them. The collaboration with Classic USD is a significant step for Ethereum’s high-end Classic stablecoin and an essential addition to the Ethereum Classic decentralized finance product line.
The issuance, fiscal management, and redemption of the Classic USD stablecoin will be handled by Brale. They are committed to ensuring that each Classic USD token can be redeemed 1:1 for American dollars and are passionate about creating decentralized finance protocols for the Ethereum Classic ecosystem.
The USC Stablecoin is well-regarded for its strong security characteristics, benefiting from the Nakamoto Consensus – a decentralized mechanism that promotes trustworthiness and durability within the Ethereum Classic ecosystem.
Before the introduction of USC, bridged assets were the only fiat-enabled token option, making them a popular target for cryptocurrency hackers. This new initiative aims to bring regulatory compliance, transparency, and integrity to the crypto ecosystem. Classic USD stands as a flagship stablecoin within the international fiscal ecosystem.
The Ethereum Classic team is focused on conceptualizing decentralized applications that utilize on-chain liquidity and settlement execution. The USC token is instrumental in various activities such as arbitrage, crowdfunding, flash loans, collateral, payments, and liquidity mining.
Classic USD also serves as collateral for derivatives and collateralized debt position (CDP) protocols. Its flash loan application allows users to quickly borrow digital assets from the protocol without providing any collateral. Additionally, its liquidity mining feature fosters a dynamic and liquid decentralized mechanism, enabling network users to profit from Ethereum Classic digital assets.
The Classic USD stands out with its ability to facilitate international and real-time payments on a smart contract blockchain network. Brale emerges as a leading platform for stablecoin creation, providing settlement and issuance services for stablecoins backed by digital assets. This stablecoin platform is committed to revitalizing and reigniting stablecoin creation while prioritizing security and regulatory compliance.
Brale has gained recognition as a reliable partner for Web3 projects, prioritizing effectiveness and open connectivity to the traditional global financial system. The Brale platform allows for the direct purchase and redemption of the Classic USD against American dollars.