Nonco, a leading institutional digital asset trading firm, has launched its new FX On-Chain initiative on the Avalanche blockchain. This solution connects institutional FX liquidity with the growing stablecoin market.
What is FX On-Chain?
The FX On-Chain protocol, built on Avalanche C-Chain, automates conversions between local currencies and stablecoins like USDC and USDT. This will enable faster and more cost-effective cross-border payments and transactions.
Benefits of FX On-Chain for Institutional Clients
Key features of FX On-Chain include institutional liquidity provisioning, targeted FX pricing, and direct integrations with banks and stablecoin issuers. The system provides access to liquidity comparable to off-chain markets while ensuring fast settlement times.
VanEck Investment and the Future of Nonco
Nonco has secured backing from VanEck, highlighting confidence in its development. According to VanEck's CEO, the company has the potential to become a leader in stablecoin-based FX markets.
With the launch of FX On-Chain, Nonco aims to enhance liquidity in FX markets, providing institutional clients with more efficient solutions for working with stablecoins.
