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Decentralized marketplace and e-commerce protocol Syscoin has partnered with the stablecoin platform TrustToken.
The goal of the collaboration is to speed up payments and to provide further solutions to Ethereumâs blockchain. It also means that the five stablecoins of TrustToken, namely TUSD, TGBP, THKD, TCAD, and TAUD, will run on Syscoinâs blockchain and be available for users.
A Collaboration Between Syscoin and TrustToken
According to a release shared with CryptoPotato, the popular decentralized marketplace and e-commerce protocol Syscoin has teamed up with stablecoin platform TrustToken.
Right off the bat, this means that the stablecoins provided by the platform will now run on Syscoinâs blockchain as well. These are TUSD, TGBP, THKD, TCAD, and TAUD.
Stablecoins have grown in popularity over the past few months, mainly because of the DeFi boom, where they are used to enable staking, liquidity provision, and so forth. However, there was also an obvious challenge with all of it â scaling. Supposedly, Syscoin is intended to help with that. Using Z-DAG (Zero Confirmation Directed Acyclic Graph), the protocol claims to be able to settle transactions in less than 10 seconds with comparatively low fees.
The partnership will also enable users to mine two cryptocurrencies at the same time â SYS and BTC.
Distribution of the Roles
While Syscoinâs task would be scalability, TrustToken comes in for the stablecoin part. Itâs a platform that aims at an open financial system through a selection of stablecoins.
The stablecoins it offers are collateralized, and it has also partnered with Chainlink, as well as other protocols.
The overall partnership is aimed at creating a solution for scalable and secure token payments at a lower risk interoperability with Ethereumâs network. It should make TrustTokenâs stablecoins function quicker and cheaper following the enabling of the bridge.
Speaking on the matter was Syscoinâs Foundation Chairman Jag Sidhu, who said:
âDigital assets have growing needs for better usability, robust decentralized security, and a scalable way of ensuring every transaction complies with regulations. Syscoin uniquely aligns with all of these requirements. We look forward to TrustTokenâs family of stablecoins becoming future-proof and gaining significant advantage with Syscoin.â
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