#USA #KuCoin #USDT #Providenciales #Stablechain

KuCoin Ventures Charts New Territory with Strategic Investment in Stable

In a significant development within the cryptocurrency sector, KuCoin Ventures, the investment division of the well-known global exchange, has officially announced its strategic investment in Stable. This innovative project reveals itself as the first high-throughput Layer1 blockchain powered specifically by USDT. This infrastructure is dedicated to the issuance and settlement of stablecoin assets and aims to enhance the global network for stablecoin clearing and settlement.

Stable has garnered support from key players in the blockchain industry, including teams from Tether and Bitfinex. Notably, Paolo Ardoino, Bitfinex's Chief Technology Officer, serves as an advisor for this ambitious project. The funding round saw participation from prominent investors, including representatives from KuCoin Ventures, Bitfinex, Hack VC, and Franklin Templeton. This coalition of investors, representing both the cryptocurrency space and traditional financial sectors, emphasizes a shared conviction about the necessity to upgrade the stablecoin infrastructure.

Addressing Key Issues
Stable aims to tackle several critical challenges prevalent in existing on-chain stablecoin implementations. These challenges include fluctuating fee structures, lengthy confirmation times, and overly complex user interactions. Unlike public blockchains such as Ethereum or Tron, Stable adopts a unique approach, architected specifically for stablecoin functionality, geared toward simplifying the user experience comprehensively.

Innovations at the Core of Stable
One of the standout features of Stable is its utilization of USDT as the Native Gas Token. This enables users to conduct transactions without needing to possess any platform tokens, making peer-to-peer USDT transfers completely free of gas fees. This pivotal element greatly streamlines how users interact with the network.

Additionally, Stable boasts a High-Performance Architecture that implements the StableBFT consensus (derived from Cosmos' infrastructure). The project is set to introduce a DAG architecture, significantly enhancing throughput and ensuring near-instantaneous transaction confirmations.

Furthermore, Stable prioritizes Enterprise-Grade Security and scalability, allowing businesses to apply for dedicated block space. This feature guarantees predictable transaction speeds and costs, which is particularly beneficial for enterprise-level payment scenarios.

Expanding KuCoin's Vision
This investment symbolizes a consistent growth and evolving strategy adopted by KuCoin Ventures, aimed at bolstering cutting-edge advancements in payment infrastructure and the overall stablecoin economy. Cass Tsai, head of KuCoin Ventures, articulated the firm’s long-term vision, expressing strong faith in the potential of stablecoins to reshape global payment ecosystems. “Stable represents a remarkable opportunity for scalable stablecoin circulation, settlement, and international applications. We eagerly anticipate collaborating with the team at Stable to develop a comprehensive network for global stablecoin clearing and settlement, fostering the next chapter of growth in this innovative sector,” Tsai stated.

Vision for the Future of Payments
Joshua Harding, Co-founder and CEO of Stable, outlined the firm’s goal: “The global payments infrastructure is in dire need of transformation, as traditional means have not fulfilled the demand for rapid, reliable, and secure digital transactions. Stable aims to leverage the unique advantages provided by stablecoins like USDT to offer seamless, instantaneous payment solutions, addressing prevailing issues associated with traditional payment methods.” This sentiment resonates with the backing from major investors spanning both the crypto and conventional finance landscapes, who share a vision of a more efficient payment processing future.

Conclusion

In summary, KuCoin Ventures' investment in Stable serves as a pivotal milestone, marking the advent of enhanced payment solutions via stablecoins. As both the cryptocurrency and traditional financial sectors align in this endeavor, the focus on evolving payments infrastructure indicates a promising trajectory for the future of financial transactions worldwide.