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Stablecoin JPYA Launched on IOST Blockchain

  • IOST blockchain set to witness the launch of JPYA.
  • One of the world’s largest stablecoins by market cap is HUSD.
  • IOST is the user-friendly, secure, and gas-efficient blockchain.

IOST a decentralized, high-performance smart contract platform is set to witness the launch of JPYA, a stablecoin fixed to the value of the Japanese Yen. This announced by the Platinum Egg team – IOST Node Partner, and Game Developer.

Accordingly, JPYA, fixed 1:1 to the Japanese Yen can purchase with Japanese Yen, Bitcoin (BTC), Ether (ETH), and IOST.

Furthermore, the latest product of a long-term partnership between IOST and the platinum Egg team is the launch of JPYA.  The Platinum Egg Team, a veteran blockchain game and service developer in Japan known for its highly successful CrossLink game which has downloads of more than 170,000 and TokenLink is their IOST-powered NFT platform.

Moreover, JPYA, not the first stablecoin issued on IOST this year. One of the world’s largest stablecoins by market cap, HUSD integrated by IOST.

 In the past few years, we can see the steady rise in the price of the cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), they are too volatile to be considered an efficient means of payment. JPYA aims to use it as a means of prepaid payment.

Notably, JPYA is based on IOST which is virtually free of any kind of transaction fees. To popularize the use of JPYA as a stablecoin is one of the goals of the IOST platform that can be used flawlessly for the smallest of payments.

IOST Blockchain

IOST is the user-friendly, secure, and gas-efficient blockchain to develop their dApps. Due to this feature, IOST is the preferred choice for developers.

According to the IOST developers, the blockchain platform IOST is highly scalable and IOST uses its consensus algorithm, proof-of-believability. The decentralized applications can run on IOST and in IOST several thousand transactions can be in a second. IOST composed of the Internet-of-Service (IOS) and the word Token (T).

Moreover, offering technical services, provide consultants, and offer training on the blockchain is the main goal of IOST.

Henceforth, IOST has merged itself as a developer-friendly smart contract platform to launch stablecoins. IOS is practically free which makes it an optimal option for transactions with small amounts

The co-founder, CEO of IOST, Jimmy Zhong said, “With a major uptick of interest in IOST in the Japanese market, launching a Japanese Yen stablecoin optimized for fast and cheap transactions is a crucial step to whet investors especially institutional investors’ appetite for IOST and user more growth in our ecosystem.” And also adding, “IOST team aims and continues to spearhead the growth of blockchain and crypto in the Asia market, and explode in global expansion this year. ”

 Nariya Takemura, Founder, and CEO, Platinums Eggs, said,

“In the future, we will contribute to the development of the blockchain industry in Japan by developing and providing technologies such as smart contracts that can be used by JPYA.”  

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Ishwarya

A dedicated writer who shows her interest in writing all sorts of content about the cryptocurrency market in NewsCrypto. She is an enthusiastic reader and writer with passion for sharing crypto news and trends.

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