BitStore.com, a global crypto transaction platform, has made a significant announcement regarding its partnership with USDD, an over-collateralized stablecoin. This collaboration represents a major step forward in integrating stablecoins into everyday financial activities. With this partnership, BitStore.com users now have the ability to top-up their accounts with USDD and use it for seamless spending worldwide.
One of the primary benefits of this partnership is the enhanced stability it brings to financial transactions for BitStore.com users. USDD, known for being an over-collateralized stablecoin, maintains a minimum collateral ratio of 120%. This provides a buffer against market volatility and ensures that users can use their cryptocurrency for everyday transactions without the usual risks associated with price fluctuations.
In addition to stability, this integration also reinforces BitStore.com’s commitment to transaction security. As the platform continues to establish its dominance in the Web3 space, the inclusion of a stable and reliable coin like USDD allows users to manage their finances with enhanced trust and security. This move is expected to attract more users to the platform who are looking for dependable ways to incorporate cryptocurrencies into their daily lives.
The advantages for BitStore.com users are numerous. Firstly, they can utilize USDD for regular transactions, ensuring stability and confidence despite market fluctuations. Furthermore, USDD allows BitStore.com to expand its operations globally while adhering to local regulatory standards by not providing services in the U.S. Additionally, USDD can be used on various blockchain platforms, increasing the versatility and usability of BitStore.com’s Web3 card in different cryptocurrency ecosystems. Lastly, users can broaden their transaction possibilities with an array of stablecoins, creating a versatile and adaptable spending environment within the BitStore.com framework.
This partnership between BitStore.com and USDD significantly expands BitStore.com’s global reach. However, the platform remains compliant with regional regulations by not offering services in the U.S. Furthermore, this collaboration diversifies the blockchain ecosystems accessible through the BitStore.com Web3 card. USDD is available on multiple public chains, including TRON, Ethereum, BNB Chain, and Avalanche, among others. This multi-chain accessibility provides flexibility for BitStore.com users, allowing them to operate across various crypto environments.
USDD functions as a decentralized stablecoin and is supported by a strong security framework based on over-collateralization. It maintains its stability and market value by leveraging popular digital assets such as TRX, BTC, and USDT as collateral. The value of these assets is always significantly higher than the total circulating supply of USDD, providing a solid financial foundation for the stablecoin.
One critical feature that ensures USDD’s stability is the fixed collateral ratio set at 175%. This means that for every USDD issued, there is 1.75 times the value in collateralized assets, enhancing USDD’s ability to withstand market fluctuations. This extra cushion helps prevent USDD from deviating from its peg to the US dollar in the event of price changes in the collateral assets. The thorough over-collateralization of USDD aims to ensure its reliability and differentiate it from other decentralized stablecoins like Terra, which faced issues due to insufficient collateral and reliance on its associated currency, Luna, for backing.
