Standard cryptocurrencies can be highly volatile, often depreciating or appreciating in value 20-30 percent in a matter of hours. Stablecoins exist to remove this market unpredictability as these types of tokens are pegged to fiat currency like USD, EUR, CNY or JPY and sometimes even gold or oil. The GUSD, DAI, PAX and TUSD stablecoins will be available on the COBINHOOD exchange for deposit or withdrawal and trading for all users.
The distinctive characteristics of each added token include:
"The biggest flaw in the market right now is uncontrolled fluctuations in the value of many customary cryptocurrencies. We are increasing the presence of stablecoins on the COBINHOOD exchange so the community understands that their voices have been heard and stability is being made possible," says Co-Founder Wei-Ning Huang. "Our mission is to make the space more approachable for anyone who wants to participate."
Launched in 2017, COBINHOOD is a next-generation cryptocurrency service platform. COBINHOOD is home to the world's first zero-fee, high-frequency cryptocurrency trading platform. The company was founded by Popo Chen, the original founder of '17 Media', and Wei-Ning Huang, former Senior Engineer at Google, with the intention of shaping future economies by creating a financial center for the blockchain era. COBINHOOD believes the evolution of blockchain technology and a decentralized financial landscape will transform global capital markets and business organizations with long-lasting impact.
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