The company is also planning to launch its first dollar-dominated Stablecoin on its blockchain by partnering with Stably.
Chia Network, an energy-efficient blockchain, and smart transaction platform have announced that it will launch a peer-to-peer exchange service for its current wallet holders.
The company has decided to partner with Stably to launch USDS on its blockchain to support the product, called Offers. USDS will be the first dollar-dominated Stablecoin on the Chia network.
All the compliance and security needs are being met by the Chia network to make peer-to-peer transactions easier and safer.
Gene Hoffman, Chia President, and COO, in an interview, has revealed that this initiative would allow Chia network to connect with its “core community of early adopters”. He also added that “Stablecoins are a great way for a business to add dollar value into Chia’s wallet to buy carbon credits”.
Offers will allow the Chia wallet holders, known as makers and takers to create and accept trade offers.
Chia which is based in San Francisco was able to raise $61 million in a Series D funding round, at a valuation of $500 million last year.
Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as financial advice. Own research on the topic is advisable.
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