Conflux Network has announced a partnership with Stablecorp to connect Chinese and Canadian markets and spread awareness of the many facets of stablecoin and its benefits. Further, the partnership is expected to raise more value between the two markets in the coming years.
The announcement was made by Conflux on their twitter handle:
We are excited to announce that @Conflux_Network has partnered with @stablecorp to build a bridge between Chinese and Canadian markets with the goal of raising awareness around the #stablecoin and its benefits.
— Conflux Network Official (@Conflux_Network) October 5, 2020
The benefit of Stablecoin is that it provides an exclusive link between virtual cryptocurrencies and the traditional fiat currency in the tokenized asset form. The first Canadian dollar stablecoin is the Stablecorp’s QCAD created for mass-market use. It is quite popular and available in more than twenty environments, such as digital asset exchanges, payment processors, OTC desks, and custodians.
QCAD is ideal for Canadian citizens residing abroad and investors who want a risk-free diversion of their portfolios. This is mainly because the QCAD coin allows easy inter and intra-Canadian transfers over an affordable and fast payment rail. By linking the coin to the network of Conflux, that payment rail will be improved as Stablecoin will have the benefit of the high-speed capabilities of the Conflux Network.
For their China Market Entry program, Conflux has chosen to partner Stablecorp due to the double-headed advantage the tie-up will bring to the table. One is that Stablecoin of Stablecorp is one of the most successful cryptocurrencies, and second, Conflux, based in China, also has an office in Toronto. Thus there will be added value in the partnership in terms of innovation and location.
It is also an excellent opportunity for Stablecorp to gain a foothold in the exponentially-growing China market, which currently has set the pace for launching some of the pioneering crypto and payment solutions of all time.
Stablecoin, too, is excited and has confirmed this partnership on their twitter handle:
A big day for us as we officially cement out partnership with the @Conflux_Network team!
China is an important country for us to expand our footprint, as the Chinese & Canadian market share a very strong bond in terms of both capital flow & investments
Full announcement below👇 https://t.co/IFHcavob6M
— Stablecorp Inc. (@stablecorp) October 5, 2020
It says that they are excited about cementing their partnership with Conflux. They look forward to expanding their footprint in China and further strengthening their bond in terms of capital flow and investments.
Conflux is the only State-approved Blockchain project in China with the Conflux Network being a layer-1 open-source Blockchain protocol perfect for decentralized applications, financial services, and open commerce.
An industry leader in Blockchain development, Canada Stablecorp Inc. is a joint venture between Mavennet Systems and 3IQ, which is the biggest crypto asset manager in Canada.