KuCoin Ventures, the investment arm of cryptocurrency exchange KuCoin, has announced a strategic investment in Stable. This blockchain technology aims to serve as the foundation for stablecoin issuance and settlement, enhancing the global clearing network.
Investment Overview
The investment by KuCoin Ventures in Stable marks a significant step towards enhancing infrastructure for stablecoins. The project is supported by teams from Tether and Bitfinex, highlighting a market consensus on the necessity for evolving stablecoin infrastructure.
Stable Innovations
Stable addresses three key challenges facing current on-chain stablecoin applications: fluctuating fees, slow confirmation times, and complex user interactions. The platform utilizes USDT as the gas token for transactions, simplifying the process for users.
Leadership Opinions
Cass Tsai, head of KuCoin Ventures, believes that stablecoins hold great potential in global payments. "Stable provides a clear path for scalable stablecoin circulation," he noted. Joshua Harding, co-founder of Stable, emphasized the need for an overhaul of payment infrastructure and expressed confidence in the potential of stablecoins.
The investment in Stable by KuCoin Ventures underlines the growing interest in stablecoins and their infrastructure, which could lead to significant changes in the realm of digital payments.
