Crypto project Carbon is launching its own stablecoin called CarbonUSD.
According to its website:
“Carbon is a price-stable cryptocurrency that is creating a more efficient and inclusive global economy.”
The coin will be based on the Ethereum network and is said to be backed one-for-one by the US dollar. Its arrival comes a week after the release of two competitor stablecoins, the Gemini dollar and Paxos Standard. What’s all the fuss about stablecoins?
Stablecoins have become a more popular crypto release of recent months. Designed to bring stability to such a volatile market, the idea behind them is needed. But do they really deliver?