One of the leading fintech company in New York – Carbon which focuses on developing user-friendly payment solutions for the blockchain industry, announced to launch the first FDIC-insured fiat-backed stablecoin on TRON.
Basically, Carbon is a FinTech company creating efficient and inclusive financial system via distributed ledger technology and Artificial Intelligence. The first product of the company is a price-stable cryptocurrency called CarbonUSD that is live on the TRON, EOS, Telos, and Ethereum public blockchains. Investors include General Catalyst, FirstMark, DCG, and Plug and Play among others.
According to the blog post, this partnership is a step with TRON’s mission to provide low-friction payments for in-app purchases on TRON. TRXD on TRON is a compliant, frequently audited stablecoin that is one-to-one backed by USD deposits held in FDIC-insured accounts.
Justin Sun, founder of TRON and CEO of BitTorrent said :
“We are excited to collaborate with all partners to launch user-friendly stablecoins on TRON,these are important milestones for making TRON more accessible to mainstream users.”
With this Collaboration, users can now buy and redeem TRXD on TRON through the Carbon website, or through wherever Carbon’s modular fiat on / off ramp product, Fiber, is integrated. Deposit methods include ACH and wire transfers, with various new payment methods soon.
Sam Trautwein, co-founder and CEO of Carbon said :
“Our goal is to build products that people use. TRON shares an unwavering loyalty to both growth and adoption,We’re excited to join forces to bring stability to a more mainstream audience in launching a fully fiat-backed stablecoin on TRON.”