Japanese Company Launches New Stablecoin Pegged to the US Dollar

A Japanese company has launched an ERC-20-compliant stablecoin that it says offers "Absolute decentralization, maximum security and a reliable source of stability in the face of volatility."

As its name suggests, USDDex is directly pegged to the United States dollar, helping traders to move their money into crypto without exposing themselves to the erratic price movements seen in other major digital assets such as Bitcoin and Ethereum.

The company believes that its stablecoin could become a viable alternative to fiat and trigger the mainstream adoption of cryptocurrencies, giving employers a safe way of paying their workers' salaries while enabling consumers to make purchases with confidence.

Presently, the company is also preparing to list on 20 exchanges, including HitBTC, Stellar, Bibox and Changelly.

Reliable and stableThe company says that every USDDex stablecoin is collateralized in excess, meaning that those who own this cryptocurrency are inoculated against wild price swings, irrespective of how the market behaves.

Ayako Nakamura, the company's chief marketing officer, explained: "USDDex introduces the breakthrough technology and the possibility to develop an independent, transparent and potentially more stable monetary policy than ever before. The priority in the corporation is interaction with leading decentralized exchanges."The highest level of estimated reliability is provided by open-source code - proved by a repeated comprehensive security audit as well as open information of each USDDex token.

The company raised funds in a closed round in December 2018, and says this initiative exceeded expectations after achieving its target in a matter of hours.

An additional sale of limited amount of USDDex stablecoin with 45 percent bonus is launching on March 19, one month before the stablecoin is officially offered to the public.

The company says its main goal "is the open and active participation of the crypto community in the life of the project.

While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.