Hello, Stably Community!
In case you missed the recent announcement, Zytara, a recently launched fintech with plans for a digital banking platform and payments network, has announced the launch of the Zytara dollar (ZUSD). ZUSD is a stablecoin issued in partnership with Prime Trust, redeemable 1:1 for US dollars, and designed for the future of finance, esports, gaming and a host of other applications. Zytara’s unique approach focuses on Millennials, Gen Z gamers and esports enthusiasts, a rapidly growing demographic historically underserved by traditional finance solutions.
Esports and gaming represents a burgeoning global industry; by 2023 it’s projected that there will be in excess of 3 billion gamers worldwide. ZUSD and other blockchain-based assets can enable financial connectivity within this global community, addressing multiple points of friction that exist within the industry while simultaneously promoting financial inclusion and literacy. It’s very exciting to witness the world of gaming embrace digital assets and distributed ledger technology.
So, what does this have to do with Stably? Over the years, the team at Stably has worked tirelessly to construct world class fintech and stablecoin solutions, and we’re proud to announce that Stably is responsible for writing the ZUSD smart contract! We are extremely proud of our engineering team, led by our very own CTO and Co-Founder, David Zhang.
So what is ZUSD?
Each ZUSD will be 100% collateralized with a corresponding USD held with Prime Trust, redeemable through Prime Trust at a 1:1 ratio and subject to examinations by an independent accounting firm, with reports made publicly available on a regular basis. ZUSD will initially launch on the Ethereum blockchain, followed by the DigitalBits blockchain as Zytara executes on its mission to incorporate multiple blockchains. ZUSD will also be available on the Zytara platform, enabling members to send and receive payments, earn on spending, and participate in other benefits made possible through the use of cryptocurrencies. This integration is designed to promote financial inclusion and literacy, especially among gamers and esports enthusiasts.
Other use cases for ZUSD will include:
- Sending and receiving payments 24/7/365 using a digital stable asset;
- A medium of exchange within the ecosystem of trading platforms; and
- A programmable dollar supported by fintech, esports and gaming companies, developers, and dApps.
For more information about ZUSD, visit https://zytara.capital.
Join us and be a part of this digital evolution.
There’s a lot of work to be done as we recreate the decentralized digitally enabled future of FinTech from the ground up. Our team is working on some of the biggest FinTech projects in this emerging space that bridge the old financial world with this new natively digital ecosystem. Want to be a part of it? JOIN US. We’re always looking for high energy, get’r done people who want to change the world. Come make a dent in our future with us.
For more information, apply here: https://www.stably.io/careers/