Ethereum Classic launches first USD-backed stablecoin: Classic USD (USC)

The Ethereum Classic proudly announces the launch of Classic USD, its premium stable coin denominated in American dollars. The recent announcement is a byproduct of the collaboration between Brale, a stablecoin issuer, and web3 developers at the Ethereum Classic system. The Classic USD stablecoin supports cash, US government bonds, and cash equivalents. The USC Stablecoin’s smart feature lies in its redeemability for American dollars and fiat liquidity, its real-time international settlement, and its collateral, which is based on the Classic USD.

Brale will bring a new era of imaginative novelty to the stablecoin sphere, and their clients are super excited to work with them. The Classic USD collaboration is a manifestation of Ethereum’s high-end Classic stablecoin, while the USC is a vital element of the Ethereum Classic decentralized finance product line. 

Brale takes care of the issuance, fiscal management, and redemption of the Classic USD stablecoin. They pursue all possible avenues to ensure that each Classic USD token is redeemable 1:1 for American dollars. They equip their team with an inherent passion for creating decentralized finance protocols for the Ethereum Classic ecosystem.

Strong security characteristics are the most discussed feature of the USC Stablecoin, and Ethereum Classic is secured by Nakamoto Consensus, a concept pertaining to decentralized mechanisms. The Nakamoto Consensus promotes the ecosystem’s trustworthiness and durability.

Bridged assets were the only fiat-enabled token option before the advent of USC, and cryptocurrency hackers target these types of bridging protocols. The new initiative will lead to regulatory compliance, transparency, and integrity within the crypto ecosystem. The Classic USD is a flagship stablecoin operating in an international fiscal ecosystem.

The Ethereum Classic team is interested in conceptualizing decentralized applications that use on-chain liquidity and settlement execution. We extensively use the USC token for arbitrage activities, crowdfunding, flash loans, collateral, payments, and liquidity mining.  

The Classic USD is often used as collateral for derivatives and protocols associated with collateralized debt position (CDP). With the flash loan application of the Classic USD, users can borrow digital assets from the protocol quickly without any collateral. Its liquidity mining feature fosters a dynamic and liquid decentralized mechanism, enabling network users to profit from Ethereum Classic digital assets.

The Classic USD showcases international and real-time payments on an incorporated smart contract blockchain network. Brale is undoubtedly the ultimate platform for creating stablecoins. It provides settlement and issuance services for stablecoins supported by digital assets. 

The leading stablecoin platform provides services geared towards revitalizing and reigniting stablecoin creation. Security and adherence to regulatory measures were always on Brale’s priority list as a stablecoin creation platform. 

Brale rose to prominence as a reliable partner for Web3 projects that focused on effectiveness and open connectivity to the traditional global financial system. The Brale platform features the Classic USD for direct purchase and redemption against American dollars.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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