Carbon Making A Mark In the Cryptocurrency Market

Carbon as it’s motto states, is a company that is devoted to making the global economy more inclusive and efficient. Their cryptocurrency the CarbonUSD (CUSD) is a step towards that direction.

The CUSD is what is known as a price-stable cryptocurrency, that is one-to-one backed with the U.S. Dollar (USD). What this means is that every CUSD is the same value wise as one USD. This allows the CUSD to remain stable in the otherwise volatile cryptocurrency market.

 In an interview with Bitpush.News, Nicholais Pai said “Really our differentiator right now, a whole capital markets arm, where we do initial offerings for tokens that want to be listed on the exchange, we do market making, and now we offer credit cards on the payment side,” Nicholas Pai is the software engineer behind building the smart contracts for Carbon.

The way the CUSD works is to deposit the users have to simply complete the Know Your Customer (KYC) process and verify their address, then the user send the wire or ACH payment to Carbon’s financial partner’s bank Prime Trust. Trust mints Carbon USD to the user's address upon receiving the funds. If the User wishes to withdraw, they will send Carbon stablecoins to burn smart contract address, once Trust receives the burn they will send the USDs back to the Users bank account.

The CUSD is partnered with many of the top blockchains in the industry, they’re offered on ethereum, EOS, Telos, Tron and intend to launch on Hashgraph when it launches.  The CUSD is currently EOS’s top stable coin on the market, which accounts for 60% of all block chains.

Pai says Carbon intends to “carve a niche space within the decentralized finance world,” With the impressive rise of this unique company it is more then conceivable that Carbon will be able to remain a force in the market for years to come.

Author: Ramsey Baker

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