Syscoin announced a new partnership with TrustToken. The new partner will bridge TUSD and other stablecoins to the Syscoin platform. Syscoin Foundation believes in the future of stablecoins and thinks the new partnership will improve its services and products for interested users. Partnerships regarding stablecoins – great choices for attracting regular users – are great for the blockchain industry.
The new partnership with TrustToken is wholly focused on providing the best stablecoin offerings to Syscoin users. TrustToken is one of the leading teams in stablecoin management. They offer a variety of stablecoins, and TUSD is their most famous one. According to Syscoin, TrustToken’s TUSD is the first regulatory-compliant asset fully backed by live-auditable USD collateral.
Partnering with Syscoin has multiple benefits for TrustToken. They can use Syscoin’s mainnet to expand their reach and offer stablecoins in a more straightforward solution.
“TrustToken is proud to support TUSD on the Syscoin chain, we’re looking forward to seeing what the community builds with a more fee-efficient TUSD on Syscoin.” – Jack Sun, Strategic Partnerships, TrustToken.
Syscoins believes Ethereum has problems handling additional pressure from DeFi Boom and users need a better alternative to that. They claim to be able to handle secure token payments. Furthermore, the new partnership with TrustToken increases their ability to manage payments.
“Digital assets have growing needs for better usability, robust decentralized security, and a scalable way of ensuring every transaction complies with regulations. Syscoin uniquely aligns with all of these requirements. We look forward to TrustToken’s family of stablecoins becoming future-proof and gaining significant advantages with Syscoin.” – Jag Sidhu, Syscoin Foundation Chairman, Lead Core Developer.
As mentioned before, the partnership with Syscoin has multiple benefits for TrustToken, too. They can leverage the fast transaction management in Syscoin. Besides, Syscoin is interoperable with Ethereum ERC-20, and developers can easily migrate their tokens using that. Syscoin claims its capabilities at the end of the announcement by saying:
“The third-party blockchain auditing firm, Whiteblock Inc., tested the scalability of Syscoin’s Z-DAG technology. The audit report shows that Syscoin’s network can provide a burst capacity up to 61,000 TPS (transactions per second) and a peak of 140,000 TPS.”
The new partnership surely helps Syscoin to expand its offering and attract new customers. TrustToken will enjoy this partnership, too, and provide its numerous stablecoins in another blockchain platform. Regardless of the results for each participant, partnerships between blockchain platforms are great for improving the overall industry and providing services for more mainstream users.
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