Stablecoins are the future of crypto. They are coins that come with the pledge of maintaining a 1:1 parity. They do this using 3 different methods, however, we will be focusing on the main method; fiat-collateralized.
Fiat-collateralized: Backing a stablecoin against a fiat currency, like $USD. If you purchase $500 worth of a stablecoin, you will get 500 coins – this works by taking your invested cash and saving them in a bank.
By now you must have heard of Tether (USDT), they were the first popular fiat-collateralized cryptocurrency, launching all the way back in 2015 - pegging their coin against USD and offering the coveted 1:1 parity. Since then there have been many developments in the world of stablecoins.
Released by TiedCo, this is the first Stablecoin in the world that is fully collateralized by Euro (EUR) and Yen (JPY) – traded on the cryptocurrency trading platform beaXchange.
TiedCoin represents the world’s first Yen denominated cryptocurrency, marking Japan’s entry into the stablecoin market.
TiedCoin currently trades in two options, T2EUR and T2JPY. The former is backed by reserves in Euro (€). The latter is backed by reserves in Yen (¥). Rest easy, as these reserves are situated in a Tier-One International Bank. So, if you buy T2EUR or T2JPY, then you will be paying Euro’s or Yen into a tier-one international bank. When you sell, the Euro or Yen is removed from their respective bank and returned to you. Making your assets instantly available in either desired format: stablecoin or fiat.
The great thing about TiedCoin is that it offers a system which is basically like having your cash in hand. You can enter/exit the market without having to wait on the typical transfer time of days, or sometimes weeks, that you would usually get with traditional crypto! The lack of delay in your money being available for trade adds a factor of convenience you can’t put a price on – and luckily, you don’t have to with TiedCoin.
Why pay bank fees to transfer money from one place to another, when it can be done at the click of a button? Luckily, you can manage your money directly through your free Tied Wallet, without any oversight, on the decentralized Stellar blockchain. The only fee you’ll have to pay is a token transaction fee, when you transfer to an external Tied Wallet – to discourage network abuse.
TiedCo’s partnership with beaXchange allows trading of TiedCoins on their platform. The terms of their agreement provide TiedCo with the ability to act as a market maker. This means that they can stand in the market to buy-back all the coins that have been issued at near face value. It also provides them with the facility to offer a 100% buy-back pledge, which guarantees that if you ever need to sell your coins and there is no one buying, they will buy from you.
Market making and buy-back abilities, allow for greater liquidity for coin holders. Aiding the ability of the holder to convert coins to fiat currency in a simple and transparent manner. This unique feature makes TiedCoin to be the first Stablecoin from Japan that comes with the promise of instant liquidity. TiedCoin also offers cross-platform wallet usability. You can exchange your TiedCoin for BTC, ETH, LTX via beaXchange.
Stablecoins offer greater functionality and utility than traditional cryptocurrencies. They are perceived as a gateway to worldwide cryptocurrency adoption. People are more likely to trust a 1:1 parity guaranteed Stablecoin than they are to trust a cryptocurrency which is known for extreme price fluctuations. It is extremely hard to accurately judge the value of your asset if the market itself cannot define it for you.
USDT was the first coin to make a huge platform for itself being a fiat-collateralized cryptocurrency, however, there are limitations with it. It offers a great service, but the world does not solely run on $USD. The introduction of stablecoins, such as T2EUR and T2JPY, will be able to aid the widespread adoption of crypto. They offer a convenience factor for people native of non-US countries being able to trade in stablecoins that represent their national currency – that too with security and transparency.
TiedCoin allows you to retain greater control over your own money. You are not required to seek permission from a bank to deposit/withdraw money from your own account. Enjoy the benefits that crypto was created for, however, with the added bonus of stability that other volatile cryptocurrencies can’t offer.
TiedCoin is the first Stablecoin in the world that is fully collateralized by Euro (EUR) and Yen (JPY) – furthermore, representing the world’s first Yen denominated cryptocurrency, marking Japan’s entry into the stablecoin market. The implications of TiedCoin’s innovations to the crypto world are they provide a fantastic port of entry, for people outside the USA, to enter the Stablecoin market and trade with the value of their national currencies.
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