Another day another stablecoin added to the list. After the announcement of stablecoins from Paxos and Gemini, Carbon has joined the foray with CarbonUSD, a dollar pegged stablecoin based on Ethereum.
The new stablecoin will be available starting today for institution investors, hedge funds, traders, and exchanges. In a press release Carbon stated they are actively pursuing listings with exchanges. Carbon does believe their stablecoin will have some advantages compared to the other stablecoin offerings.
Co-Founder of Carbon, Miles Albert, told CoinDesk:
"We've already developed our algorithmic scale model, we've already done simulations as well, to test the resilience of our model," he said "From an algorithmic standpoint, we plan to whitelist our 'metatoken' structure after CarbonUSD has reached sufficient scale and liquidity."
Investors looking to purchase CarbonUSD will need to do so by depositing fiat with Prime Trust, a blockchain driven trust company, according to the press release.