HaloDAO Partners TrustToken to Integrate Non-USD Stablecoins: Details
HaloDAO, a novel community-giverned DeFi ecosystem, is going to integrate non-dollar stablecoin assets by TrustToken into its decentralized application.
New liquidity for non-USD markets
According to a press release shared with U.Today, HaloDAO has entered into a long-term strategic partnership with TrustToken, a fully compliant stablecoin operator.
Within this partnership, four new products by TrustToken, TAUD, TCAD, TGBP and THKD stablecoins will be integrated into the next releases of HaloDAO's decentralized application.
This integration is of paramount importance for the majority of red-hot crypto use cases. As NFT and DeFi projects' popularity rockets yet again, users from various regions will be interested in transactions in their local currencies.
With the new integration, they do not need to exchange their crypto to USD-pegged assets like USDT or USDC.
One-stop crypto ecosystem with stablecoins, lending/borrowing and AMM
Jun Yong, co-founder of HaloDAO, stresses the unmatched potential behind this collaboration that can expand crypto adoption beyond USD-pegged assets:
TrustToken offers a wide selection of non-USD stablecoins and boasts an impeccable reputation and regulatory standing, making it almost a critical partner for HaloDAO. Like for many other attempts at non-USD stablecoins, it's safe to say that adoption of any token beyond TUSD has been limited so far. We believe it's an issue of liquidity and usability in the market, and together we can finally give a proper spin to this adoption flywheel, creating meaningful non-USD crypto markets.
TrustToken CEO and founder Rafael Cosman noted that the cooperation could inspire a variety of completely new use cases for all sorts of mainstream cryptocurrencies due to a major liquidity boost:
As TUSD hits new highs, we are excited to see projects like HaloDAO begin to build new use cases for our non-USD currencies! We aim to work with them to expand DeFi and crypto use cases to new markets throughout Asia and the world.
HaloDAO solidifies its stance as one of the flagship Web3 infrastructure teams.
It boasts stablecoin-optimized Automated Market Makers (AMM) and lending/borrowing modules' functionality.Source