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DeFi Marketplace Syscoin collaborates with TrustToken for Stablecoin Bridge

DeFi Marketplace Syscoin collaborates with  TrustToken for Stablecoin Bridge

Syscoin, a decentralized marketplace and e-commerce protocol, collaborates with the stablecoin platform TrustToken. Following the increasing significance of reliable auditable stablecoin liquidity for modern cryptocurrency systems, Syscoin (SYS) declares the combination of TrueUSD. It is a U.S Dollar-pegged asset formulated by collaborating with TrustToken. The significant aim of the Syscoin and TrustToken’s collaboration is to advance payments and offer additional solutions to Ethereum’s blockchain. It also indicates that the five stablecoins of TrustToken, namely, TUSD, TGBP, THKD, TCAD, and TAUD, will work on Syscoin’s blockchain and accessibility for users. 

The association comes into existence with the release of Syscoin version 4.2. Moreover, all Syscoin mechanisms are completely Ethereum-compatible owing to the Syscoin Bridge. Syscoin Bridge is a unique interoperability solution that allows the storage of tokens on multiple blockchains. The bridge does not need the use of counterparties and has no liquidity constraints. Moreover, Ethereum smart contracts setbacks the bridge and utilize SPV (Simple Payment Verification).

The latest Syscoin-TrustToken collaboration satisfies all regulatory requirements.

Stablecoins by TrustToken are accessible on 100+ exchanges and over-the-counter platforms. Currently, it involves adapting this ecosystem to the DeFi race with its TrueFi instrument for TRU holders. The new collaboration between Syscoin and TrustToken satisfies the most stringent regulatory requirements. Therefore, making it adequate for all kinds of corporate requirements.

Syscoin, an open-source blockchain project supported by Bitcoin’s security model, was ingeniously developed for e-commerce platforms. Employing Z-DAG (Zero Confirmation Directed Acyclic Graph), the protocol professes to be capable of settling transactions in less than 10 seconds with approximately low fees. The alliance will also allow users to mine two cryptocurrencies at the same time. Additionally, it includes SYS and BTC.

Stablecoins require scalable platforms to work on. In collaboration with this, Syscoin would focus on scalability, TrustToken contributes to the stablecoin part. It’s a platform that intends to develop an open financial system via a selection of stablecoins. The stablecoins it provides are collateral-based in nature. This partnership will develop a solution for secure token payments at scale and low-risk interoperability with Ethereum. Moreover, this will make the TrustToken’s stablecoins operate quicker and cheaper following the bridge.

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