Qtum CEO: Stablecoin Launch in April Next Year

IconCryptoNewsTerminal Staff24 Jul, 2024

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Qtum CEO: Stablecoin Launch in April Next Year

Qtum CEO, Patrick Dai, has recently shared via X that "the Qtum AI API will be launched in September, the Qtum BRC20 mainnet in November. Our own stablecoin will be launched in April next year." This is a significant step for Qtum, as the launch of a stablecoin will help in stabilizing the price of QTM and make Qtum more accessible to a wider range of users. Stablecoins have been gaining popularity in recent years as they offer a number of advantages over traditional cryptocurrencies, such as stability, transparency, and ease of use. Stablecoins are pegged to a fiat currency, such as the US dollar, and are backed by real assets, such as gold or fiat currency reserves. This makes stablecoins much less volatile than traditional cryptocurrencies, which are subject to large price swings. The launch of a stablecoin will be a major milestone for Qtum. It will help in stabilizing the price of QTM, making Qtum more accessible to a wider range of users, and attracting institutional investors. The Qtum stablecoin is expected to be pegged to the US dollar and will be backed by a combination of fiat currency reserves and smart contracts.

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