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Cardano-Based Stablecoin Djed on Track to Be Launched This Month

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Sat, 14/01/2023 - 10:03
Cardano-Based Stablecoin Djed on Track to Be Launched This Month
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The official handle of Cardano-powered stablecoin has announced that Djed will be launched later in January. This provoked a positive reaction from the Cardano community, who are looking forward to the release of the first algorithmic stablecoin on the largest proof-of-stake blockchain.

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Djed is being developed by COTI — a decentralized network for payment transactions, which also created a digital currency that combines conventional methods of payment with crypto.

Djed is being promoted as the first over-collateralized consensus stablecoin on the Cardano chain, the rollout of its mainnet has been expected in early 2023, in January.

The stablecoin will be using its own system of payments dubbed DjedPay, which will be suitable both for merchants and non-profit organizations.

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Last week, as reported by U.Today, the Djed team secured a new partnership with DLT development startup Yepple. The latter provides access to NFT payment gateways, through which any NFT can be accepted as a payment option.

COTI commented on that partnership in a blog post, stating that this would help it ensure Djed is used in the best and most optimal way along with the whole ecosystem of Cardano.

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