Capricorn Foundation: Stablecoin Is Making Waves in Traditional Economy
- 03.12.2021 08:20 am
Crypto has had futures for some times and only recently has its structure developing more sophisticated in the traditional financial ecosystem. In early 2019, there was only $275 million of crypto collateral locked in the DeFi economy while it hits the milestone high of $200 billion today.
With the announcement of Facebook rebranding itself into "Meta", which referred to metaverse, a virtually-reality platform. More traditional giants are fastening their pace into "decentraland". Stablecoin, which designed to maintain a stable value relative to a national currency or other reference assets, is making its waves in global traditional economy.
"Although Bitcoin and Ethereum are currently the dominant cryptocurrencies, their prices fluctuate, which will hinder real-world adoption," said Eric from Capricorn Foundation"while emerging with the traditional finance sector, neither businesses nor consumers want to face unnecessary risks. What I can foresee right now, for the adoption of crypto into real world business is stablecoin, and its advantages of being stable, reliable will definitely redefine our finance ecosystem."
Malaysia-based finance solution team has just release their concept of adopting stablecoin concept into real world finance with their Capricorn Protocol, which actively cooperates with various DeFi applications, such as lending, that has stable currency usage scenarios. Using collateral as value support, the Capricorn Protocol will fully utilize its advantages to empower traditional business.