KuCoin Ventures, the investment arm of KuCoin exchange, has announced a strategic investment in the new blockchain Stable, dedicated to creating infrastructure for stablecoin issuance and settlement.
What is Stable and its Features
Stable is the world's first high-throughput Layer1 blockchain powered by USDT, aimed at addressing key challenges in current stablecoin applications. It features:
* **USDT as Gas:** Users can make transactions without holding platform tokens, facilitating gas-free peer-to-peer USDT transfers. * **High Performance:** Leveraging the StableBFT consensus mechanism and soon integrating a DAG architecture, Stable offers high throughput and near-instant confirmation times. * **Security and Scalability:** Businesses can apply for dedicated block space, ensuring predictable transaction speeds and fees, making it suitable for enterprise-level needs.
Investments and Support from KuCoin Ventures
The funding round included participation from diverse investors such as Bitfinex, Hack VC, and Franklin Templeton, highlighting the market consensus on the need for improved stablecoin infrastructure. This investment continues KuCoin Ventures’ strategy of supporting innovative payment infrastructure and the stablecoin economy.
Comments from Founders and Future of Stablecoins
Cass Tsai, head of KuCoin Ventures, stated:
'We firmly believe in the long-term potential of stablecoins in global payment ecosystems. Stable, as a high-performance blockchain tailored for USDT, provides a clear path forward for scalable stablecoin circulation.'
Joshua Harding, co-founder and CEO of Stable, added:
'Payments infrastructure around the world needs an overhaul, and traditional methods have failed to achieve fast, reliable, and secure digital payments. Stable was developed to leverage the potential behind stablecoins like USDT to offer instant and seamless payments.'
Thus, KuCoin Ventures' investment in the Stable blockchain highlights the growing interest in enhancing stablecoin infrastructure and its potential applications within the global economy.
