CarbonUSD, a cryptocurrency token that was originally launched on EOS, can now be exchanged between EOS and Ethereum. The token is the first stablecoin that was launched on EOS. The announcement on the exchange was made yesterday by Carbon. The developer of the currency, made the announcement in a press release adding that the interoperability of CarbonUSD through various blockchain is going to add value to the currency and the entire industry in the long run.
Stablecoin has been live on the Ethereum blockchain in the last two months, but can now be transferred to the EOS blockchain at the request of the user. This will allow users to take advantage of lower transaction fees and faster confirmation times. The company has also provided a portal that offers users the ability to interact with applications on EOS. This portal has smart native contracts for one-to-one USD redemption.
Carbon co-founder and CEO, Sam Trautwein, said:
"It is an honor that we are the first to produce a stablecoin for EOS and to play a significant role in the industry.The Stablecoins play a key role in delivering value in the industry.We believe that the integration of this with EOS will help to improve its ecosystem ".
Speculative funds, institutional investors and exchanges will be the first to gain access to the token. There are fiat deposits at Prime Trust, the Navada-based bank that works with Carbon. The new CarbonUSD tokens will be produced as a result of this partnership. The co-founder of Everipedia, the popular decentralized encyclopedia and developer of dApp, Sam Kazemian, had this to say:
"The Stablecoin are crucial resources in the cryptocurrency sector and will feed a bull run in the next six to eight months".
In September, Carbon launched a version of the token based on Ethereum. This was in the same period in which many other stablecoins were launched. It was when Paxos and the Gemini dollar were launched. At that time, Carbon claimed that the CarbonUSD is based on a unique algorithm that will eventually distinguish it from competing coins.