Horizen Labs and Stable join hands to launch ZUSD, the first stablecoin on EON


Horizon Labsthe technology company behind Horizen DAO, and stablyA Washington-based fintech company has partnered to launch Zen USD (ZUSD), the first stablecoin on Horizen EON blockchain.

With this launch, users can now mint or redeem ZUSD on the EON network using a variety of payment methods through Stable Ramp, including ACH, Fedwire, Visa, Mastercard, and other stablecoins such as USDC.

stable slope is an entry/exit tool that can be integrated with third-party applications such as web3 wallets and decentralized finance (defi) protocols.

Rob Viglione, co-founder of Horizen and CEO of Horizen Labs, said:

“Partnering with Stable is an important step towards a more connected and seamless blockchain ecosystem. The integration of Stable’s stablecoin infrastructure with the Horizen EON platform will not only enhance the user experience, but also provide a platform for a more robust and compliant Paving the way for digital assets.”

The main goal of this collaboration is to promote blockchain interoperability and stablecoin innovation. The ZUSD stablecoin provides a reliable means of exchange and store of value by maintaining a value very similar to the U.S. dollar.

Notably, the stablecoin was issued in compliance with FinCEN’s Guidelines for Convertible Virtual Currencies, including BSA/AML regulations and OFAC sanctions.

ZUSD collateral is held in USD-denominated liquid assets by a designated trustee to benefit verified ZUSD holders.

Each ZUSD can be minted or redeemed against USD or USDC at a 1-to-1 rate by users who complete Stable’s Know Your Customer (KYC) verification process. We will conduct regular attestations to verify that every ZUSD token in circulation is fully supported.

Additionally, the stablecoin will be managed by Stable’s registered money services business (MSB) subsidiary located in Wyoming.

This collaboration demonstrates the compatibility of the Horizen EON platform with the Ethereum Virtual Machine (EVM). Therefore, creative projects that choose speed, compatibility, and low fees can choose this platform.

The network’s developer-centric approach allowed Stable to deploy ZUSD on Horizen EON in less than two months.

Disclosure: This content is provided by a third party. crypto.news does not endorse any of the products mentioned on this page. Users must conduct their own research before taking any action related to the Company.

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