Cryptocurrency exchange VNDC is launching a Vietnamese Dong-pegged stablecoin that is 100% backed by collateral held by Hong Kong-based regulated trustee First Digital Trust.
VNDC says its stablecoin is designed to boost international transactions with Vietnam by providing a compliant remittance solution built on Ethereum that is fast, low-cost, borderless, and operates 24/7.
Tam Tran, CEO, VNDC, says: “Vietnam has always been an early adopter of cryptocurrency and blockchain technologies and we are very excited to be the first exchange to bring a transparent VND stablecoin to the market to meet the growing demand of our digital asset communities as well as international investing during the global Covid-19 pandemic.”
Kory Hoang, CEO of Stably, which is powering the project, adds: “In addition to making trading crypto in Vietnam easier, the country already has a thriving digital asset community which will greatly benefit from a VND-pegged stablecoin that is transparent, trustworthy, frictionless and borderless.”
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