Coin98 Labs announces the launch of the decentralized stablecoin CUSD

Chain Catcher News, Coin98 Labs announced the launch of the decentralized stablecoin Coin98 Dollar (CUSD), which is fully backed by reserve assets. To convert to 1 CUSD, collateral assets with a total value of 1 dollar must be sent to the CUSD Reserve smart contract. Coin98 Labs stated that this stablecoin is designed to serve as a cross-chain accounting unit to meet the liquidity needs of DeFi across chains, unleashing the power of the Coin98 ecosystem, with early support for BNB Chain, Solana, and Ethereum.

Coin98 Labs is a DeFi product builder focused on creating and developing DeFi protocols, Web3 applications, and NFTs across multiple blockchains. (Source link)